Both India and USA having taken important decisions on the same day can be speculated towards both countries working together in the future converging their strategic and economic interests. It is true that #demonetization efforts will have huge impact on domestic ran business especially cash driven. One of many sectors that would be affected is the agricultural sector which accounts at least 60% towards Indian economy. For example: Kadi, known as cotton city or Manchester of India, saw closure of cash or spot cotton markets due to the inconvenience created by the government. The markets were shut for at least a month which resulted in local economy slowing down and resulting in lakhs of loss for every individual small businesses. Kadi is just one of thousands of town in India that are cash driven and especially Rs 500 and Rs 1000. However, India runs a parallel economy of unaccounted money as majority of its citizens have income below minimum slab to pay income tax. Therefore the real impact of demonetization won't be seen on paper but on the field where small business would close down and big companies (domestic and international) would take control of agricultural sector putting burden on the farmers. However it won't much effect on the financial markets as most of the companies on the market are not cash driven. #rupee
When it comes to #demonetization, it's a mixed reaction among people. The author said it right, it's the low-income group (middle class) who get affected. Being a #cash dominating society, many are currently facing issues due to the cap of withdrawing a max of Rs. 24000 per week from the banks and max of Rs. 2500 per day from ATMs. Inspite of the inconvenience caused due to this cap, people still appreciate the decision taken by the government. #modi#india
India ETFs Tangled Between Note Demonetization & Trump Win
Both India and USA having taken important decisions on the same day can be speculated towards both countries working together in the future converging their strategic and economic interests. It is true that #demonetization efforts will have huge impact on domestic ran business especially cash driven. One of many sectors that would be affected is the agricultural sector which accounts at least 60% towards Indian economy. For example: Kadi, known as cotton city or Manchester of India, saw closure of cash or spot cotton markets due to the inconvenience created by the government. The markets were shut for at least a month which resulted in local economy slowing down and resulting in lakhs of loss for every individual small businesses. Kadi is just one of thousands of town in India that are cash driven and especially Rs 500 and Rs 1000. However, India runs a parallel economy of unaccounted money as majority of its citizens have income below minimum slab to pay income tax. Therefore the real impact of demonetization won't be seen on paper but on the field where small business would close down and big companies (domestic and international) would take control of agricultural sector putting burden on the farmers. However it won't much effect on the financial markets as most of the companies on the market are not cash driven. #rupee
Modi’s Demonetization Is A Cure Worse Than The Disease
When it comes to #demonetization, it's a mixed reaction among people. The author said it right, it's the low-income group (middle class) who get affected. Being a #cash dominating society, many are currently facing issues due to the cap of withdrawing a max of Rs. 24000 per week from the banks and max of Rs. 2500 per day from ATMs. Inspite of the inconvenience caused due to this cap, people still appreciate the decision taken by the government. #modi #india