Question

Hoe does the demonetization affect the middle class

Answer 1

A substantial section of the middle class – particularly the section that has benefitted from globalisation – has a schizophrenic view of demonetisation of the Rs. 500 and Rs. 1,000 notes. Since it is able to use credit or debit cards, its inconvenience has been relatively far less than of the bulk of the Indian people, who survive using cash. Therefore, the middle class possesses a smug sense of satisfaction that though we may be temporarily “inconvenienced”, the black money holders are really being punished.

Of course this can change quickly if the money they require in the beginning of the month is not available from the banks or the economy tanks. It is now being predicted with GDP growth coming down to even 0.5% in the second half of this financial year leading to significant job losses for the middle class as well.

But more relevant than the middle class’ view of demonetisation and its discomforts, is its complete disconnect from the rest of the people. The globalising middle class now lives in gated communities, works in business parks or commercial centres. They are no longer connected to industries and have also severed their links with rural India. It shops in malls or online. This is the secession of the middle class from the rest of India. It lives in a bubble, where it meets only people like itself. Of course they have maids that come to work in their homes, watchmen to guard their elite enclaves and a host of services provided by faceless, nameless people with whom they rarely interact.

Answer 2

Implement of demonetisation make usage effect on the ppl now first of all the ppl mast have to give their time for deposit or exchange thier money but this move can make so much positive effect too

• all middle class ppl being foreword with internet banking and plastic money

• the property value goes down after this so it will also help them to buy home

•bank will recover their money and will get usage amount from government so they will decrease loan rate of interest

•black money will totally comes out so government usage That amount for the improvement of country they will gonna make good and long term effective thinks for ppl

•There are also more thinks are there which we can not thik r8 now