The Big Picture: Demonetization: A year on



Guests: A.K. Bhattacharya, Editorial Director, Business Standard; Ajay Dua, Former Secretary, Ministry Of Commerce & Industry; Bharat Panchal Head Risk Management of National Payments Corporation of India (NPCI); Ashwani Kumar, Assistant Professor, Sriram College of Commerce

Anchor: Frank Rausan Pereira

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38 thoughts on “The Big Picture: Demonetization: A year on

  • November 11, 2017 at 9:06 pm
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    I don't knw y Frank biased this episode without fairly criticsm…Public trusted gvmt in immense way thts y they supported nd beared the struggle but finally wt happnd the goals of exercises changed to digitilzation nd formalising …If these were reasons then other ways would had there to do them…But whole purpose of idea defeated So nw gvmt shuld accept their mistake nd mv forward…When we take big reforms there r chances to backfire them so gvt should take reforms but in planned manner with lot of consultation of experts nd with lot of preparation nd with step by step process rather than in single move to gain electoral benifits…

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  • November 11, 2017 at 9:06 pm
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    they want to bring transparency to all but political funding .there digital donations is not possible but it is possible for chaiwalas and rikshawalas.global connectivity index is low. what are u talking about .
    do india live in tier 1 2 cities only ?
    corruption was because of moneg right .
    not because archiac laws no police reforms,low transparency,no judicial reforms,finding loophole in lokpal law to not appoint one.
    gst has become paradise for ca's .
    npa problems is not getting solved and no reforms but recapitalisation could make next npa disasted in making without reforms.
    shell companies breakdown was good. i guess thats onlt takeaway from that but most of thse companies was under scanner for many years.

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  • November 11, 2017 at 9:06 pm
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    I think dr. Rajiv kumar think that he is only person live in india rest of them are may be blind or non sence. Dr. Rajiv has no write to talk on behalf of 1.3 billion population. I think issues like demonetisation is not a single room discussion where, 3 to 4 decide to talk on the behalf of world 2nd largest populated country.

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  • November 11, 2017 at 9:06 pm
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    Well Constructed Debate as always, Those who love" Mirch Masala" may watch some other stupid channel.

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  • November 11, 2017 at 9:06 pm
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    RSTV subdued too. The intent is bought, but the effects were supposed to be discussed here(if not the indiscretion on the executor's part)
    Didn't expect varnished episodes from u Frank.

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  • November 11, 2017 at 9:06 pm
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    As an ordinary and rural citizen, I want to narrate my experience and my experience by being with my friends who are in rural and doing farming:-
    Positives:-
    1. There is no doubt that, the ppl who had black money had nightmare on Nov 8, 2016.
    2. Many of them(tax evaders) thought, they are safe now by depositing their illegally earned money into banks through various channels. But they don't know IT officials are after them.
    3. I personally observed that, many big fishes in and around were having sleepless nights and I'm damn sure they found illegitimate ways to deposit their black into banks.
    4. Shops started using point of sale (POS) at their shops even in rural areas. And digital transaction at rural is still growing.
    5. Honest home buyers were always victims Because of lot of black controlling real estate. Real estate is one important sector which actually played vital role in GDP growth. But sad part is it actually worked below 'moral' level in what it needs to be done.

    Negatives:-
    1. Yes, it impacted common man who dependant on cash in his/her day to day activities. If anybody has any argue, pls come with me and I will show you with proof by meeting few farmers at my village who got impacted for few months after Demo.
    2. Farmers faced problems in selling their crops(post monsoon ie Nov 216) in market. Due to inadequate cash, they were not paid for their crops on time.
    3. This caused frustration in some segment of farmers. But they never protested. All of them stood together in-spite of difficulties they faced initially.
    4. It's so easy to tell demo not impacted anyone by sitting in AC room, having 2-3 credit/debit cards with ample of balance in account. Not all poor and farmers has such luxury like us. They faced problem in buying day to day ration to their houses.

    So, we need to think broadly. All these views are my personal experiences.
    There is difference in understanding effects of demo or any policy by just reading on internet , websites, blogs and by actually going to field (rural) India to realise t's impact.

    But, surely I believe, the govt intentions are correct and it's implementation(home work) is somewhere not up to the mark considering 1.2 billion population, that to majority are living in rural India.

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  • November 11, 2017 at 9:06 pm
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    With due respect rstv, views are presented one-sided, critical analysis and constructive criticisms are needed.

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  • November 11, 2017 at 9:06 pm
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    This is the first time that I feel RSTV has stood us up. Pretty much a propaganda episode which fails to even touch upon the negative effects completely. The worst part of the debate was when Mr. Bhattacharya, the wise old man sitting in his plush chair in an AC office had the nerve to say that the informal sector took it on it's chin and the effect got mitigated thanks to digital transactions. The sheer hypocrisy. How can anyone in their right senses expect to take in this argument.

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  • November 11, 2017 at 9:06 pm
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    Well the debate didnt really focus on the negative aspects of demonetisation on economy…the informal sector is still struggling, it led to huge job losses is amply clear through Eco Survey Vol II which indicates the increase in job seekers under MGNREGA, whether it really affected black money is not clear ter is still huge amount of cash recovered by EC in various state elections, stone pelting in J&K and naxalites are affected is fine but how can be sure tat it is not temporary and they may again get hold of money overtime. With respect to fake notes experts have pointed out that the security features in the new notes aren't new n is only a matter of time before the same is replicated (btw fake notes are already recovered in few places). While we cant be completely negative about it as ter r also positives as mentioned it wud be better if govt can clearly spell out on its future course of follow up actions rather than simply saying it's a resounding success.

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  • November 11, 2017 at 9:06 pm
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    I request to rstv plz when it comes to debate on govt decisions policies etc plz don't call people who r working in govt departments we want neutral debate not biased… plz

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  • November 11, 2017 at 9:06 pm
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    Hey frank Greetings
    Always good to see big news analysis here, I thank all the members involved directly and indirectly in this show and that of Desh Deshantar by kurban ali also, though i am silent spectator i am here first time to request you and of course RSTV to make a episode on impact of SC judgements on distance education which happened recently, and what is going to be the impact on education system in India. If possible please call senior members from AICTE, educationist.
    This SC judgement might be game changer in non formal education.

    Thanks & regards
    Abhishek Jha

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  • November 11, 2017 at 9:06 pm
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    frank sir the debate is focus only on impact on economy not in inconvenience face by common man.debate can be more comprehensive

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  • November 11, 2017 at 9:06 pm
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    Someone plz ask What about lokpal, rti on political funding, panama, Paradise, jai shah,mahesh shah n all…. U can't deny from Demo. Disaster it's negative impact on common people, unemployment rate hiked, companies sacked most of their employees, people were died in que. Gov. Should apologies from the public for demo disater. It was also a step for the corrupt people to convert their black money in white.

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  • November 11, 2017 at 9:06 pm
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    demonetisation has only evil effect,s till now . black money holders are demoneytisers and digital India is needed only for them .the Bharat where people don't have so much money to sustain their mostly people are illiterate , dificating in open what they have to do digital India.these are the borrowed anchor,s and TV shows
    n

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  • November 11, 2017 at 9:06 pm
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    today this is govt promotional promgramme ? perhaps govt is going to spend 15.86 lakh cr on advt to prove their ill conceived economically disasterous demonatisation move…..just for shake of pyrrhic victory.

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  • November 11, 2017 at 9:06 pm
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    mr bhattacharya,, something has changed ,, you were critical of this move of govt ,, i also supported demonetisation but after hearing panelists again and again in this same show i slowly changed my mind ,,

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  • November 11, 2017 at 9:06 pm
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    Rstv is not expected to analyze without being critical .
    This shows that change of guard have changed channel as well

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  • November 11, 2017 at 9:06 pm
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    people are always talking about long term benefit ,,, the longer we wait more we see the effects of demonetisation ,,, did demonetisation stopped production of fake currency ,,, even after demonetisation people have found a way to bring out the fake currency in the system ,,, the black economy is re-emerging ,, would you go for demonetisation again to stop this black economy ??

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  • November 11, 2017 at 9:06 pm
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    demonetisation was implemented to wipe out black money and when it did'nt work the goal post changed towards digitisation ,, and finally came the stupid talks of demonetisation stopping stone pelting in kashmir and stopping of prostitution ,,, i dont know about prostitution but i can say that stopping of stone pelting would have been the result of our army forces ,,,

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  • November 11, 2017 at 9:06 pm
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    every ordinary citizen supported the move because they did'nt had any option ,,, why is that even after demonetisation there are many cases of fake notes circulating in the economy ,, the effect which was supposed to be only for 50 days has crept on even to this date ,,, the worst effected area is the Medium and small sectors and the ones who depended on cash for their daily transactions ,, people endured pain because it was supposed to be a boon and it has turned to be a curse ,,,,

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  • November 11, 2017 at 9:06 pm
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    Dr. Rajiv Kumar from NITI Aayog says no impact of demonetization on common man ?! Seriously these guys don't have the courage to speak the truth and are happy to boost about themselves and their government. Mr. Rajiv Kumar-

    1.You are an Economist, Don't you know how many man hours of productivity were wasted by common man standing in queues for hours ?
    2. Don't you know the loss of jobs in the unorganized sector ? Why there was a sudden demand for MGNREGA post Demonetization ?
    3. Is Black Money really tackled with Demonetization ? Then how come 99% cash came back into the banking system?
    4. Do you know how bad the construction workers who depend on daily wage were hit badly ? The kirana wala, Pani puri wala, vegetable seller etc all struggle with their daily wages on top of it your stupidity costed them immense pain
    5. How many years will IT department work to catch the culprits ? If caught how long it will take for our Judiciary to convict the accused ? There is a pretty good chance that the accused will die and case will be closed.

    I may sound utter pessimistic, but Demonetization was one of the worst decision made with faulty execution and end of the day the rich escaped with their influence with the Banking system and the common man suffered the burnt !!!

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  • November 11, 2017 at 9:06 pm
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    rstv has become a government mouthpiece with no critical analysis. The anchor has no clue about issues.Late girish nikam was better.

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  • November 11, 2017 at 9:06 pm
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    Govt has acted well on demo on 8th Nov 2016 we see less home loan rate in future when all job done by modi we all Indian nearly free from corruption – Indian must think on future of next generation coz we all not thinking if better India – you can see hate from opposition what they want tax theft more in India via celebration blackday

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