The Instigator
samsun01
Con (against)
The Contender
Vampyy
Pro (for)

Demonitesation

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Voting Style: Open Point System: 7 Point
Started: 3/26/2017 Category: Politics
Updated: 1 year ago Status: Debating Period
Viewed: 338 times Debate No: 101409
Debate Rounds (3)
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Votes (0)

 

samsun01

Con

I think demonitesation is a very bad move . Because:-

1) If the 1000 rupee note was the villain , how could the 2000 note be the hero _P.chidambaram

2) More than 125 people have died due to demonitesation .

3) You can't just make a cash flourished economy into a chasless one , it takes time .

"Anyone up for the challenge"
Vampyy

Pro

Hey, my opinion on the issue is that it isn't a bad decision overall but could have been slightly implemented in a better way. It was a huge move for a country and there were some consequences that occurred in the following days but as they say, it takes time to change.

1. The 1000 Rs note wasn't the villain actually. The decision was taken mainly to eliminate a major part of the black money in the country. When the 1000 Rs note was decommissioned, all the bundles corrupt people had were rendered useless. They couldn't use it. Even if demonetization didn't eliminate all of the black money, it did eliminate a huge part of it. Many even donated it for the country. The previous governments hadn't taken any major steps to eliminate black money. This was the first step and surely won't be the last. That's why they are pushing towards a cashless India. The 2000 Rs note isn't the hero, it is just a replacement, even if it has a value double of the earlier one.

2. 125+ people have died. This is actually sad and I'm not going to defend this point, simply because it would be an insult to the people who have died. All I have to say is those deaths could've been prevented if the move was planned a bit better. They didn't die due to demonetization, they died due to the poor execution by the government. I don't think they could've done a better execution as a warning a few days back gives chance to the corrupt to protect their black money. I'm not sure about this point but the reason wasn't demonetization, it was just the poor execution.

3. Yes, it takes time to turn a cash flourished nation into a cashless one. It is a change and change takes time. It is inevitable. The point is, good changes take time too. You say it takes time to turn into a cashless economy, building your house took time too, right? Does it mean you shouldn't have done that? Cashless economy has lot of benefits and will completely eradicate black money if the whole economy turns cashless. It will take years, even decades but after all that time, corruption will be non existent and black money too. It is worth the wait. I myself use PayTM and other cashless methods and I prefer them over carrying cash around. It will take time to implement it over the nation but we just have to wait, as the sweetest fruits takes the most time to ripen.

Your turn, good luck.
Debate Round No. 1
samsun01

Con

1) Only 6% of the whole money was in the form of black money , remaining 94% is in the form of Gold , Land and the stock market . Even out of that 6% most of the money was exchanged by corrupt bankers .

2) For building my house I'd first give it a foundation , but this move is a building whiteout any foundation , it may collapse anytime.

3) If you circulate a 100 rupee note 1000 times its value remains 100.
But if you circulate a 100 rupees through e-wallets such as paytm and mobikwik for 1000 times, for each transaction charges 2% , the value becomes 1000*2.5=2500rupees . In that amount we only get 100 rupees , the remaining 2400 rupees go to the e-wallet companies.

3)Even fully developed countries like USA , have 60% of their economy in cash.

4) Due to this step , even the GDP rate has decreased .
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Debate Round No. 2
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Debate Round No. 3
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