Prime Minister Narendra Modi’s bold announcement of invalidating most circulated currency notes has left hundreds of millions of people stranded without any money. Two weeks into it,infj eroticism however, Modi is now asking for their views on the matter.
SEE ALSO: India's futile attempt to go cashless is a reality check for our dream epayments futureOn Tuesday, Modi said he is seeking feedback about his surprise move to demonetize 86 percent of the country's currency. To share your views with the government, you will have to download Narendra Modi app. It is available on Android, iOS, and Windows Phone handsets. The app requires you to sign up before sharing your feedback, and registration requires you to submit some personal details including voter identification number.
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The announcement further underscores the Indian government's unpreparedness in executing its bold demonetization step. Though the government's intention with the move -- to curb black money and get all cash under the tax system -- has been applauded by many, the way it has handled the situation so far has turned many lives upside down.
In a televised address to the nation, Modi took everyone by surprise earlier this month when he announced that Rs 500, and Rs 1,000 currency notes — the highest denomination notes in the country — were to be rendered useless in the market in a few hours. This resulted in many people immediately rushing to banks and ATMs for cash.
The rush has only grown in the days since. Two weeks later, people still have no choice but to stand in long, snaking queues outside ATMs and banks. Several businesses, especially small ones that heavily rely on cash for payments, have been hit hard. Moreover, dozens of people have lost their lives standing in the queue, or because their cash being useless.
One of the issues with the demonetization has been that the same limitations were imposed on everyone. People who needed a substantial amount of cash were left frustrated and helpless by the move. Farmers across the India who were seeking loans for new crops, as well as people who needed a lot of cash for wedding couldn't do much.
Banks and ATMs didn't have enough cash to meet the sudden influx demand. Many ATMs across the nation are still being upgraded to support the new currency notes. Foreigners who visited India in the last few days were left with abundant Rs 500 and Rs 1,000 notes with no dedicated support from banks.
Several people, many of whom in opposition political parties, have strongly condemned government's move. Delhi Chief Minister, Arvind Kejriwal has been one of them and his speech in the state assembly has garnered over half-a-million views. Several of his other videos posted on his Facebook account have garnered hundreds of thousands of views.
It has also not helped that the Indian government has made over a dozen revisions to regulations arising out of demonetization, only cementing the beliefs that it was not completely prepared for the move.
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The government hasn’t shared what it plans to do with the feedback.
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