3 years of demonetisation: 66% say it had negative impact, 33% blame it for slowdown | Survey

[Sachin200]

Three years, PM Modi announced demonetisation declaring 86 per cent of currency in use as invalid. Now, 66% people in a survey say the move had a negative impact while 33% blame it for slowdown

 

• 66 per cent people in a survey say demonetisation had negative impact
• 33 per cent blame demonetisation for economic slowdown
• On the other hand, 42 per cent identified tax net expansion as positive effect

 

Demonetisation was announced on November 8 in 2016 declaring 86 per cent of the currency in circulation invalid. These were currency denominations of Rs 1,000 and Rs 500. In a televised address, Prime Minister Narendra Modi said the decision was taken to counter terror funding, corruption and hoarding of black money.

Three years down the line, 66 per cent of respondents in an online survey have said that demonetisation had negative impact on economy and labour employment. Only 28 per cent of the respondents said demonetisation did not have any negative impact in the survey conducted by LocalCircles, a citizen engagement platform.

About 33 per cent of those participating in the survey blamed demonetisation for economic slowdown that the government is finding hard to grapple with. Indian economy was flying high when demonetisation was announced.

A couple of quarters later, economy was on the downhill. It recovered briefly in 2017-18 but slipped again. The GDP growth rate has been declining for past five consecutive quarters. Though, demonetisation is not the only factor responsible for economic slowdown.

Economy watchers held that demonetisation hit the unorganised sector the hardest causing loss of jobs and initiating a spiral effect in which consumption declined due to loss of earning, particularly in villages.

In the latest survey, nearly a third of the respondents agreed with this view with 32 per cent holding demonetisation as the principal reason for loss of earnings for many unorganised sector workers.

Among those who voted on the positive effects of demonetisation, 42 per cent said the move brought a expanded tax net bringing a large number of evaders in its ambit. The survey also found that use of cash - in businesses and individual transactions that has declined soon after demonetisation was announced -- has increased in the past two years.

[Spartan]

  so 99% of the respondents were non-bhakts and gharwapasi batch ana maata...

[Sachin200]

2 minutes ago, Spartan said:

  so 99% of the respondents were non-bhakts and gharwapasi batch ana maata...

😅

It's still debatable topic whether denonetisation had positive impact or not . 

@prasadr Ami antadu ante taxes Baga perigaye antadu , digital transactions increase ayyayi antadu but modi Target chesina money ayitey raledhu  

[kevinUsa]

chai wala ki govt iste inte 

 he always thinks at a level of Chaiwala not as a prime minister

[pittagoda]

1 hour ago, Sachin200 said:

😅

It's still debatable topic whether denonetisation had positive impact or not . 

@prasadr Ami antadu ante taxes Baga perigaye antadu , digital transactions increase ayyayi antadu but modi Target chesina money ayitey raledhu  

@prasadr ki gedi uccha gurinchie adugu cheputadu.. Antha kanna scene ledu bhaya ki.. 

[kevinUsa]

3 minutes ago, pittagoda said:

@prasadr ki gedi uccha gurinchie adugu cheputadu.. Antha kanna scene ledu bhaya ki.. 

good post 

[prasadr]

huh,

we have had elections recently,

 

wonder why people elected BJP!

We have had elections in MH and Haryana and BJP did very well even after being in power for 5 years.

 

It seems like opposition is winning in surveys where as BJP seems to be winning elections.

 

strange really.

[jefferson1]

17 minutes ago, kevinUsa said:

chai wala ki govt iste inte 

 he always thinks at a level of Chaiwala not as a prime minister

the whole administration seems like a joke to me every day

[Spartan]

1 minute ago, prasadr said:

huh,

we have had elections recently,

 

wonder why people elected BJP!

We have had elections in MH and Haryana and BJP did very well even after being in power for 5 years.

 

It seems like opposition is winning in surveys where as BJP seems to be winning elections.

 

strange really.

  online respond ainollanta...twitter online lo bratikesaremo..polling booth ki velli vote vesunte 66+22 % = 99% BJP ki against ga vote vesi Congress ni gelpinche vallu...

[sattipandu]

the more i think about it the more jackass  I feel for having support bjp govt for that move 

it hurts my brain now 

[sattipandu]

6 minutes ago, prasadr said:

huh,

we have had elections recently,

 

wonder why people elected BJP!

We have had elections in MH and Haryana and BJP did very well even after being in power for 5 years.

 

It seems like opposition is winning in surveys where as BJP seems to be winning elections.

 

strange really.

haha u dont get it thats ok though

given a choice between modi led bjp  and pappu gandhi led  congress

i will choose modi , not that i'm a bhakth but my aversion to pappu gandhi is more

u can still vote for bjp but not toe their line on every issue or move they have made 

[Spartan]

2 minutes ago, sattipandu said:

the more i think about it the more jackass  I feel for having support bjp govt for that move 

it hurts my brain now 

• 

[babu_bangaram]

only 100 people were surveyed and out of which 99 were congressi and 1 person was absent

[Spartan]

Just now, babu_bangaram said:

only 100 people were surveyed and out of which 99 were congressi and 1 person was absent

i think that absentee was AAPtard...

[jeessy_bb]

7 minutes ago, sattipandu said:

the more i think about it the more jackass  I feel for having support bjp govt for that move 

it hurts my brain now 

Bodi gaadu CBN cheppindhi full ga follow ayyunte ee karma vacchedhi kaadhu gaa. Ippudu yedchi yem upayogam. Oorike visionaries aiporu.