Is demonetization a scam to make the rich richer ?

Posted on November 21, 2016

While the whole nation is supporting Narendra Modi on his new move of killing black money, there are few that call demonetization a scam to make the rich richer and common man miserable. The opposing national parties Congress and APP are repeatedly expressing their views against this step by the PM and are calling this move of demonetization a scam.

Well APP and Congress have few valid points in their claim. The most shocking step was when SBI wrote off Rs 1200 crore debt of Vijay Mallya. Well in three years more than 40,000 crores were written off by SBI. Now when currency is flowing into the banks, AAP and Congress are calling demonetization a scam to write off bad loans of the rich. Well as per facts specified by these two political parties Modi government’s step is causing banks to write off loans. Read Startup Scams.

Also no upper middle class and rich class is in line to deposit money or exchange currency note, it’s the common man that is suffering. Keeping all this aside, we have to keep in mind that this is a national economic reform and the whole country will go through downs for the better future. This is why majority of the people are supporting PM Modi and are ready to stand in lines. Well this step may be a scam for few, but once black money is in the system, chances are interest rates will go down, real estate will stop overpricing, and many more benefits will be seen to the nation. Read Business News.

Is demonetization a scam to make the rich richer ?