Demonetisation Effects or Side Effects

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The word DEMONETISATION is has been part of every conversation lately in India. What is your take on it? Have you felt any pain or you have the sweet cramps as after effect?
Indian economy has been through a lot from the beginning. And it would be unfair to say only Indian economy; every country economy has their own share of ups & downs. If the economy has been stable throughout always than share market would have been a dull place. 
There have been numerous stories of side effects of demonetisation, and the will demonstrated has been even stronger. Inspite of tremendous resistance pumped in by opposition parties the citizens of India has shown good unity. On obvious note and even lately Mr. Prime Minister also mentioned; demonetisation has brought in pain, but that will be short term. 
Any change is always painful and when the nature of change will be impacting each individual related to country it requires cooperation. On the side effect part the pinch has been more to the poor class as they use more of cash and less of wire money. The daily wage worker has suffered the most. And the major reason is literacy and lack of awareness of wire money; hence the impact on the poor has been more. In any economy as small as a family economy the first impact comes to the poor and than to the head of the family; which by no means say that decision is incorrect. 
The change announced on 8 Nov was sudden but was not unplanned. Few decisions management is difficult, hence pain is obvious. At the same time there could have been better remedies to the pain. Few nationalised banks and public sector banks did not manage it well. The staff has been veterans so their acceptance to technology and changes is low. At the same time few private banks like HDFC has managed well with cooperation and management of frustration that is commendable.
I'm not an expert economist to comment if Indian economy will suffer but it is going to have hiccups; which every person concerned need to go through. The pain is now; gain is to follow.


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