Earnings, Spending Impact due Demonetisation
With many of you participating in the earnings and spending impact survey via state and city circles, below are the links to the results.
Economic Times
http://bit.ly/localcircles-et-spending-earning
LocalCircles Full Report
http://bit.ly/localcircles-earnings-spending
Overall at a national level, earnings of 20% citizens have been impacted and approx 48% are spending less.
If you have specific inputs on what can be done by Govt to come out of the current situation, please share.
We look forward to your inputs! more
Economic Times
http://bit.ly/localcircles-et-spending-earning
LocalCircles Full Report
http://bit.ly/localcircles-earnings-spending
Overall at a national level, earnings of 20% citizens have been impacted and approx 48% are spending less.
If you have specific inputs on what can be done by Govt to come out of the current situation, please share.
We look forward to your inputs! more
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There is a certain element of uncertainty in people .spending has come down by 49-59% due to uncertainty and cash restrictions .In comes of traders has come Down by 20-30%.but small traders ,hawkers are selling less ,at reduced profits as he has made of habit of selling at exorbitant prices earlier.Price stability has been achieved .But hoarding of small notes like 100 downwards has increased and even 2000 notes by big traders.Deposits in to bank is minimal .All are saving ,hoarding as much as possible due to apprehension. Quick reassurance by the public reps and govts and ease of release of cash in an emergency as faith in present govt is shaken.Big black marketers are causing the shortage of notes by converting their black and hoarding and bankers are hand in glove with this community leading to further chain of hoarding ,generation of black money. Cashless should become ,less cash economy if all insist on swiping machines,mobile phone apps and it will take time to people to adjust . Pumping of small notes. Tightening of tax net ,increasing tax base ,release of hoarded new currency in to system are the immediate Needs. more
Dec 16
Many ATMs are still not working. HDFC Bank ATM located at Ratan Towers, Near Arjun Towers , in Ghatlodia, Ahmdabad 380061. worked only for a few days during the third week of November. THIS SHOWS THAT THE ATM HAS BEEN RE-CALIBRATED. However, the amount of cash loaded was so small that it got exhausted in only about 15 minutes. SINCE THEN THE ATM HAS ALWAYS BEEN FOUND CLOSED WITH THE SHUTTERS DRAWN DOWN. In fact mos of the ATMs run by private banks are found "not working". This is specially so with the HDFC & the AXIS Bank. I fear that the cash earmarked for ATMs. is being diverted for irregular use. In any case this needs to be looked into. more
Dec 15
PM and FM are least sensitive about suffering of common man...this is no economic logic..pure politics and winning elections..and stay in power more
Dec 14
The Government is doing its job in going after the black money mafia. The immediate job is that of the RBI and Banks to replace at least 75% of old currency removed from system with new currency notes in denominations of Rs.500/- and Rs 100/- at the earliest so that it is freely available in ATMs and in Banks and open markets, at the same time encouraging cashless transactions through cards and paytms etc by giving incentives for using these methods.This will save the common man in the urban and rural areas from disaster and help in reviving the economy. more
Dec 13
