Punish offenders
The decision will temporarily curb the challenges with black money, but it has caused lots of inconveniences to the common man who doesn’t have any! The execution should have been planned in a much better way. Prime Minister Narendra Modi spoke about exposing the list of black money holders and it’s been more than a year, but the list is still not out. Punish the offenders, not the common man! You cannot use the shoulders of the common man to keep the gun to shoot the vultures!
From Mr Sholto Dias
UAE
We can wait
Vice-President of the Indian National Congress party Rahul Gandhi, chief minister of New Delhi, India Arvind Kejriwal and all other leaders representing caste and religion politics, should not worry about the inconvenience to the common man. We can bear it. We have seen enough suffering in the past and we have been inconvenienced due to it. We have stood in queues since independence for rations, hospitals, school admissions, utilities, transportation tickets, taxes and even at religious places. Let’s not forget, also for voting! We don’t mind standing in a bank queue for a better tomorrow!
From Mr Himanshu
UAE
Money overseas
The step taken to combat black money is good, but the government instead of issuing 2,000 rupee (Dh108) notes, could have issued new 500 rupee (Dh27) notes only. The panic would have been less.
But, question is, what about the big business tycoons who have stacked huge amounts of black money in Swiss bank accounts?
From Mr Nargund Naz
UAE
This is a scam
This is the planning for the next election. Every political party has investment groups. Who invested in the Bharatiya Janata Party (BJP) will benefit. Their money will become white and the groups who invested in Congress, their money will be wasted and they will not be able to stand behind the opposition party in the next election. This is called dirty politics. One day it will become the biggest scam in the history of India.
From Mr Ali Jaffri
Dubai
Creating uncertainty
Demonetising the 500 and 1,000 rupee notes is just creating problems for the common man. Today for depositing the notes in a bank, a common person has to stand at least eight to 10 hours in line with no certainty that when his turn comes, the bank will still be open.
If at all someone has successfully deposited the money, then he has nothing or at least a less amount of money due to old high-denomination (OHD) notes being banned and the shortage of 100 rupee notes due to the ban.
In this case if something bad happens, that person has little to no money with him apart from that for withdrawing money. Even if you get a chance to withdraw money, you can only get around 2,000 rupees and for a family of four that is nowhere sufficient in this time of such financial unrest.
From Mr Bahauddin Shaikh
Dubai
The reality is different
Brother, Mr Bahauddin Shaikh. First come to India and then talk about what it’s like on the ground here. I only stand for 15 minutes and I’m able to take 2,500 rupees.
From Mr Sandeep Sharma
UAE
For the long run
This decision from Indian government was a good one. The common man is already suffering because of mounting inflation due to black money. By withdrawing the higher denominations this may control the inflation, which will help the common man. Of course initially, the common man has to suffer to exchange the old notes and maintenance may be difficult, but in the long run he will be happy so the interim hurdles need to be ignored. A good economy is important for a healthy living.
From Mr K. Ragavan
Bengaluru, India
Torturing the wrong people
Scrapping notes is fine, but it should be executed wisely where the common man isn’t affected. Now we see only working men, middle class and poor suffering. To catch a few thieves, he is torturing the whole nation.
From Mr Govind A.
UAE
Must be another way
For few corrupt people, many good and honest citizens are suffering. There may be some other ways to recover black money.
From Ms P. Aoa
UAE
Better late than never
The demonetisation of higher currencies is one of the best schemes that 21st century India has witnessed. Though the implementation has its own difficulties and the ritual bad mouthing by the opposition, it will find its way to boost the Indian economy in less than a year. Demonetisation will now give more value for each rupee that we earn. It will collapse the beds of notes that the black money holders have. It is the best way to put an end to corruption. It is sad that the Congress couldn’t come up with this and the common man had to wait so long. Anyhow, it’s never too late to start!
From Ms Parvathi Sreeraj
Dubai
More issues
It’s creating more issues. No food, no treatment, no education and no business because of this foolish decision.
From Mr Faizan Asad
UAE
The poor suffer most
It’s the worst decision Modi has made so far. India is home to 1.3 billon and they certainly aren’t all corrupt or black money holders. The richest people are not saving their black money in their homes. They are using different bank accounts and transferring to bank accounts in other countries. The internet banking system is so easy to transfer money. It’s black or white, but we are 100 per cent sure that the poor who likely save an average of 10,000 to 20,000 rupees are mostly victims. Some areas in India don’t have a bank nearby and there isn’t easy transportation. They still can’t change their notes. Sure the Indian financial system will be affected badly because billions of rupees are still not changed.
From Mr Mohammad Jalal Hussain
Dubai
Not practical
It was a foolish decision by Modi. It is not practical and there are a lot of problems being faced.
From Mr Shameer Ashraf
UAE
This isn’t feasible
To save more lives, they should withdraw the order. Later in the next financial year, they can implement this gradually and also put strong policies to bank while accepting cash deposits. Even ATMs can’t dispense 2,000 rupee notes now and it will take at least 30 days to put a specific tray and software configuration across the nation. It’s not at all possible to visit a bank every day to get an exchange.
From Mr Muthu Nainar
UAE
Facebook comment
Can’t back down now
Now that it’s implemented, Modi can’t back out from this. If he backs out then the people will be on high alert and they will convert all their black money from property to gold. Right now there is no chance of a withdrawal. People are suffering, but nothing can be done.
From Mr Mohammad Yousuf
Sharjah
Facebook comment
Selfish action
Has Modi done anything positive for his country apart from taking selfish actions for his political campaign? What will a poor person do now? His steps are not of a democratic leader. Why use the word democracy at all?
From Mr Osman Humayun
Dubai
Facebook comment
Take care of the common man
The people in India are ready and happy to cooperate with the decision taken by the central government. At the same time, the common man raises the question to the government that, when a huge percentage of 500 and 1,000 rupee notes are taken back from people, it is the duty of government to take enough precautions as it might affect the daily lives of the common men in India.
From Mr Mohammad Ashraf
Dubai
Facebook comment
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