The unbeaten path

social and economic matters that effects our society

Sunday, 22 January 2017

Effect of demonetization on lower middle class

This is a story about an old man who is a street  vendor selling woolen clothes on the streets of  a small town in the north eastern province of India. His age is nearly 70 years during all this years he does not have a bank account as there is only 3 banks in his district nearest being 60 kilometers from his hometown .He has never being to school nor his three children's they represent nearly 20 percent of our population who are illiterate in our country but they are very lucky that they live above below poverty line where nearly 200 million people live below the poverty line .It  means they earn more than 27 rupees 20 paisa per day and not consider poor in the country there for they do not get the benefit of government schemes for the people living below the poverty line 

After November 8 2016 that is after  demonetization was declared there was sudden slump in his business an incurred huge losses in the same month and the whole month was completely chaotic as all the adult members had to travel long distance and wait in long ques to change the currency that they are saved over the years after they have lost their daily earnings income source now they are forced to change there life style the photo of the old man with the fishing net shows the change they have undergone  for both ends to meet  

The criteria for BPL has been a joke on the face of democracy