Notes Ban: Short & Long Term Losses?

The Prime Minister Narendra Modi's monopolistic decision of demonetization of high Currency Notes is showing its adverse effects with each passing day. According to Economists, the impact of this strange decision will have its short term and long term damages. Following is the list of those losses particularly for common people. 

SHORT TERM LOSSES:

* Getting change for the notes turned out to be a huge problem. It's a Herculean task for exchanging notes in hospitals, markets, petrol bunks and in many other places.

* Thousands of crores worth man power is all set to be wasted as all people should apply leave in their work places and should stand for hours in queues outside banks and POs. 

* It's a nightmarish experience in standing in the queues for the people who suffer with Diabetes, pregnant women, women with infant kids and aged people.

* No change availablity in RTC buses. Eventually, people are cancelling their journeys.

* Most of the people turned out to be selfish and misers due to insufficient money kept with them. 

* Most of the people in below poverty line may starve for many days owing to lack of money.

LONG TERM LOSSES:

* Land and site prices slashed down drastically. This situation has made the rich comes under the category of middle class and the middle class to the poor. For an instance, if a person has the land or site worth of Rs.1 crore market price previously, its price has now depreciated to Rs.10 lakhs to Rs.20 lakhs after big notes ban. Economists informed that the situation would be continued for three more years. As such, there will be no buying or selling of fixed properties. Real estate may have to go for a long term hibernation mode.