In recent news in Indian economy and slide down of GDP after demonetisation you need not to be a economic scholar or any economic advisor to predict coming financial year’s economic picture going through some incomplete dry statistical data.
Let’s start the calculation from your home and in your local market’s daily transaction during four months approximately.
After November 8, 2016 the picture of normal life was changed abruptly, and no one was prepared to handle that awkward situation. The man who withdrawal cash in 500, 1000 note either from bank or ATM on 8th or before, was not prepared to exchange those notes within few hours. There were created panic, long que were seen outside of banks, ATMs. Almost 90% ATMs were dried, closed. People were running one ATM to another and going to be frustrated. The whole sale market, the retail markets were closed consecutive 7 days. It was seeming that any war was going on and cash curfew was imposed.
Last one decade, TERROISM is a common and very known word around the globe. While I first read the news in net on 8th night, instantly I had realized the coming days definitely will become horror.
November 8 is the day of scur in two nations, One is India and another is America. If one is Demonetisation the other is Deportation. The hidden story of these two coincidal incidences have one purport, that is “anti poor”.
Whatever, the cash withdrawal limit was Rs.2000 in a single day. And weekly limit was Rs.10,000. The first two months after demonetisation were precarious condition in India. More than hundred peoples were died due to standing in long queue outside the banks or ATMs and died due to not getting admission into the hospital for treatment due to non availability of cash, cash was leashed into bank accounts. Wsst it not TERRORISM?
A report reveals that in normal time the cash flow in the market was 45-50% and that was only 15% and 20% consecutively on November and December 2016. 2016 was not the good year for Indian manufacturers due to low purchasing power parity in domestic market. Average people’s earning is not good that after expensing to buy essential commodities they do not have surplus money to buy other products. Consumer Price Index or Whole Sale Price Index totally controlled by the big traders and hoarders. Government never intervene of fearing to loose vote bank and party fund. Usually government has been pulvarizing common people by curtailing various subsidies along with imposing various taxes which are returning as indirect taxes.
So, demonetisation was a catalyst to erode the population, not the allievating of poverty, practice of diminishing the population, by throwing poor in deep malnutrition and anxiety attack.
Was it not TERRORISM?
Tomorrow is all India bank strike, called the bank employees union. And most probably 16th March is all India strike called by central government employees unions. These central government employees and pensioners are ditched by the government.
Real Estate, Automobile, Gold & Jewellery and many more medium and small scale industries are deeply affected by demonetisation and thus the result, the migrated labourers have lost their jobs. Today they have no earning to feed their families.
Was it not TERRORISM?