*1kg tomato is going for 30paisa in market yard. Average cost is Rs.13 ...thats 99.99% loss in value. .This is killing farmers and in another 10days you will see farmer suicides because they can't get price for their produce due lack of cash. The farmers are dumping their produce and going home depressed. This is not fair by anymeans.
While cities will see skyrocketing of price because of lack of stock.
Modi has hit at the heart of Indian economy of Farmers. They just are helpless ,the panic is rising every minute and it will create chaos in matter days.
1.EMERGENCIES
2.FOOD
3.RIOTS
4.LAW ENFORCEMENT BECOMES NIGHTMARE.
5.Everybody is calm till supplies last. Locality by locality, then city by city and state by state will fall. Fall in terms of food supplies ,emergency services,transportation and then riots.
Tourists where only cash is accepted are the most effected. They didn't come to India to stand in queue to pay fo meals.... They came to travel freely.
I can see every minute it will become nightmare because nobody wants to spend because they don't have change. In matter month the tourism which relies on cash will be dead.
Rajan stood for poor India... He saw through this... He was told to go.
My respect for rajan grew all the more the day I learnt that he had reservations about demonetisation plan.... .. I can see clearly why he was asked to go.
The Facts:
Justdial used to generate total 1000 leads a day across 10 industries(realty,services,transport etc) in one city.
Number leads per day
Nov 1st :986.
Nov 2nd: 977
Nov 3rd: 956
Nov 8th: 705
Nov 9th: 403
Nov 10th:212
Nov 11th: 156
Remember more than 200 companies are effected because of this in one city alone. India has 2300 small towns n cities. Imagine the scale of business lost.
Lost business or leads not created because of demonetisation is huge. At this rate more than 70% of business turn over will be lost and this will kill small business completely.
1.cash riots for lack of cash in every market.... Indias 70 % population use cash.
2.Normally 10% of ATM's don't work.. Now it's 95% of them not working.The anger is raising every minute.... It will be unsustainable if riots breakdown...please do something creative "Lets not become another riot hit country."
3.Demonitisation caused Prices of perishables to raise /it will kill the dealers. The big market yards all deal with cash.... It's nightmare to ask them to even do basic signature forget asking them to do fund transfer. It's far too tough and far too many people are being left behind because they are illiterate. Everything will skyrocket from here.
4.Realty will fall 40%. With it all support industries like Telecom and Infra industry. Only infra projects which get government payments will be sustainable. Rest in single sweep go down to no point of return.
5.The illiterate and masses are the most effected with this move. Remember 80% of Indians earn less than 2lakh. All they get is daily payments... I got at least 5autowalas and others to open bank account. When I looked at the scale of getting 50crore Indians onboard is far too much to little time of 30 days.
It's become war on the poor and illiterate instead of black money hoarders. I am sure there are better and more suitable solutions instead of this mess.
Dear Smart HN reader,Kindly suggest ways what do from here on,otherwise the poor will suffer because they are not smart enough to open bank accounts.
I will publish solutions suggested here to all news agencies.
wow you are spot on with Bernie and Demonetisation of currency. I think I can say trump won because of independents were not allowed to vote for Bernie...effectively DNC did a self goal.
Bernie is the most popular guy ever.....somehow hillary and her machinery scrwed him, independents inturn screwed her.
Hence we are in the dinosaurs land.Earth belong to dinosaurs... Longest survived mamals.