How Demonetisation affected rural areas
By any standards and by all means demonetisation of 86% Indian Currency that affects the valets of 1250mn population is no ordinary decision. Union Government sent shock waves among not just the hoarders of unaccounted money but also among the state governments and the huge political constituency. The measure may have precedence but the dimension of the effect has no precedence and therefore, economic historians are watching in gaze for generating a new script.
Cash is dirty; banks keep Dettol or soap for their staff handling cash to wash off their hands because of the bacteria that causes pneumonia, or viruses or skin infections. Yet we would love to hold them. Most drug dealers, casinos or prostitutes or casual farm workers prefer to receive cash for they only receive small remunerations for their day’s labour or night’s pleasure. Under-ground economy does not stop these few known. Waste and scrap dealers, many steel merchants join the gang.