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Kozhikode youth divided over demonetisation move

A brave decision that adversely affected life of common man'

KOZHIKODE: In an attempt to crack down on blackmoney, Prime Minister Narendra Modi announced the withdrawal of two major currency denominations – Rs 1000 and Rs 500 notes. It has met with wide ranging reactions from the public and polity. Youngsters from the city talk to DC how badly demonetization has affected their professional as well as personal lives. “While this may prove a major boost for people to use digital means of transactions, there are a lot more ramifications for the larger public”, said Shigil NP, an entrepreneur from the city.

"On one hand, this move to combat tax evasion and end blackmoney is the best-ever decision a prime minister of the country so far has taken. But on the other hand, the decision has widely affected young entrepreneurs like me, as we are still working on minimal money. To pay our employees and carry out business has been hindered with this issue", he added. Sadam Shad, a young businessman hailing from Kozhikode, said that he was in trouble a few days ago, when a private hospital in Kozhikode did not accept a credit card. "I had to run from pillar to post in order to arrange a few new currencies to settle my bills with the hospital. Not just in my personal affairs, but in my business too I am facing a tough time as people are not able to do business with insufficient currencies", he added.

But welcoming the move, Swarna Unnikrishnan, a women entrepreneur from the city, said, “This is one of the best promising moves made by the PM towards a cashless economy”. Electronic payment methods would spread across the nation which would initially help emerging entrepreneurs to put in more innovative ideas into this sector, she said. "Initiation difficulties should not be a matter of worry as these steps would help the public and the nation to see the country free from counterfeit notes and stop the flow of blackmoney, she added.

( Source : Deccan Chronicle. )
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