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> The government face-planted themselves miserably with demonetization experiment. They thought it would be easy to muscle everyone to use electronic payment wi
by sfifs 9y ago
> The government face-planted themselves miserably with demonetization experiment. They thought it would be easy to muscle everyone to use electronic payment without understanding the ground realities. The economy is performing below expectations solely due to it and they still haven't disclosed what they have achieved(good) with demonetization.
You're completely missing the point of demonitization. Modi got elected partly on the promise of doing something about black money and corruption - which is what pulled down the previous government.
Demonitization was basically a way to demonstrate that he was keeping that promise. For months on the end, towns were filled with stories of the corrupt rich desperate trying to get rid of their unaccounted for cash and government officials getting raided.
In other words, it was primarily a political exercise designed to show he will take action if he makes a promise. The vicarious pleasure the common man got hearing about the discomfiture of the corrupt rich I reckon is more than sufficient to get his government re-elected and also give him some slack from people if the GST thing falls flat - given they trust him more due to demonetization.
- navinsylvester 9y ago> The vicarious pleasure the common man got hearing about the discomfiture of the corrupt rich I reckon is more than sufficient to get his government re-elected I agree the common man can be easily be fooled by gimmicks and the BJP government is an expert in sugar coating gimmicks. Please read: http://www.dailyo.in/politics/demonetisation-noteban-six-months-failure-terror-financing-modi/story/1/17139.html http://www.dailyo.in/politics/demonetisation-noteban-six-mon...
- sfifs 9y agoJust to be clear, I think the reduction in currency note availability which has forced a large number of traders, businesses and the unorganized sector to accept bank payments a positive thing and reduced bribes anecdotal well worth the point of growth sacrificed. I was just outlining that the political rationale is primary.
- kamaal 9y agoNot one person is doing this. People did temporary hacks like PayTm because they didn't want to take hits on their business. Today no one. Not one single person is taking cards or PayTm. If you wave a card in front in front of their face they ask you to withdraw cash from the nearby ATM and come. In fact its already a few months since I did a electronic transaction to buy anything near my home. This whole act achieved nothing at the end. Your best measure is Police constables, especially the traffic ones. They are back to asking bribes on the street. In Bangalore every 1 km has a police party doing this.