Most fellow economists are going gaga about the demonetisation.
Kudos PM. Restoration of black money! Really?
What about the money in swiss accounts? What about assets and gold?
So you just demonetise notes of 500 and 1000. Eighty five percent of the currency is that of 500 rupee notes.
I am not writing as someone from the middle class. I anyway do not use cash that much. I use cards for grocery shopping, ola money for cabs. Yes, I am in the lucky privileged class that uses online banking. What about the countless many?
Those who save cash for a rainy day?
Those who had to buy from the wholesaler on 10th November morning when they could not?
Hospitals in Chennai are not accepting 500/1000 Rs. Why? Why are they causing inconvenience to the patients?
What about maids? Informal sector?
Is the cost of this whole exercise worth it?
There are big queues out of ATMs. It saddens me that the people who keep calling this a good move have no empathy.
At least help the poor. Help them understand.
My own friend who was travelling didn't know how he would buy food.
You shook our basic rights. It has to be a political move because I dont trust any of these policies.