Thursday, January 5, 2017

Impact of demonetization

1. GDP down 2%. 

2. 100 plus death while exchanging old notes. 

3. Loss of employment. 

4. Informal and unorganised sectors are off the track. 

5. No compensation for bank employees who did wonderful job. 

6. Credibility of RBI as an autonomous institution has been dented. 

7. Both the houses did not function in the winter session. 

8. Loss of man hour - citizens were in queue during demonetization period abandoning their daily work. 

9. Export down. 

10. Tourism has been hit very badly. 

11. Untold story of loss revenues in the small / retail business segment. 

12. Much more - Sensex down more than 7%, companies have lost more than 1 lac crore in market cap.

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