Letter Published in Gulf News UAE on 20 Nov 16,Facebook debate: India’s black money strike
Will India’s decision to withdraw Rs500 (Dh27.1) and Rs1,000 bank notes help the common man For the long run
This decision from Indian government was a good one. The common man is already suffering because of mounting inflation due to black money. By withdrawing the higher denominations this may control the inflation, which will help the common man. Of course initially, the common man has to suffer to exchange the old notes and maintenance may be difficult, but in the long run he will be happy so the interim hurdles need to be ignored. A good economy is important for a healthy living.
From Mr K. Ragavan