On November 8th at 8 p.m. Prime Minister Narendra Modi addressed the nation. The speech announced demonetization of the Rs. 500 and Rs. 1,000 currency note. The move took the country by total surprise. A move that would impact only those who had unaccounted cash or the infamous Black Money.
Its a speech that lasted almost an hour and was delivered in Hindi.
https://youtu.be/tM39Uxq0tPY
The finance minister, Arun Jaitley answers many of the questions that come to mind.
The next few days in which it's been implemented has led to long lines at banks and a short supply of usable currency. Surprisingly the common man has been extremely supportive of the move and there was relatively very little criticism of the move by the common man who stood in line.
The move has been roundly criticized by the political parties who are using the woes of the common man as the reason for urging the government to roll back its decision.
And even the spiritual leaders are publicly voicing their opinions.
Gurudev Sri Sri Ravi Shankar Speaks on the Demonetization
In researching the subject, I came across one created by Dr. Navneet Goel. He has managed to convey the positive benefits in under 3 minutes.
Demonetization - Long Term Benefits Explained
While there may be long term benefits in the short term there's a significant impact on the day to day lives of people. The government has promised that everything will normalize in a couple of months.
Whether the move has a major long term impact only time will tell, but even the harshest critic of Modi will acknowledge that its a bold move which has zero political upside for Modi but could have significant downside.
And such moves can only be made by leaders who believe in trying to make a difference to the country at the risk of their own personal careers. Hats off to a man who is attempting to do the impossible. And surprisingly, he seems to be succeeding.
Its a speech that lasted almost an hour and was delivered in Hindi.
https://youtu.be/tM39Uxq0tPY
The finance minister, Arun Jaitley answers many of the questions that come to mind.
The next few days in which it's been implemented has led to long lines at banks and a short supply of usable currency. Surprisingly the common man has been extremely supportive of the move and there was relatively very little criticism of the move by the common man who stood in line.
The move has been roundly criticized by the political parties who are using the woes of the common man as the reason for urging the government to roll back its decision.
And even the spiritual leaders are publicly voicing their opinions.
Gurudev Sri Sri Ravi Shankar Speaks on the Demonetization
In researching the subject, I came across one created by Dr. Navneet Goel. He has managed to convey the positive benefits in under 3 minutes.
Demonetization - Long Term Benefits Explained
While there may be long term benefits in the short term there's a significant impact on the day to day lives of people. The government has promised that everything will normalize in a couple of months.
Whether the move has a major long term impact only time will tell, but even the harshest critic of Modi will acknowledge that its a bold move which has zero political upside for Modi but could have significant downside.
And such moves can only be made by leaders who believe in trying to make a difference to the country at the risk of their own personal careers. Hats off to a man who is attempting to do the impossible. And surprisingly, he seems to be succeeding.
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