Poor happy in belief demonetisation hitting rich harder than it hit them

Nagpur: Despite hardships, the marginalized class seems to find demonetization to be a great leveller. The idea that it has hit the rich hard, has left many in the segment convinced that the policy will ultimately turn their fortunes in long run. If not so, at least bring the upper class down.

TOI did a quick survey, among workers, street vendors, petty businessmen, and small contractors across the city, which revealed that this class supported demonetisation no matter the troubles they faced. The day to day struggle on account of cash crunch was not denied, but a vast majority of those TOI talked to saw light at end of the tunnel. Their arguments may have lacked much sense of economics, even as each one felt that the money now pouring into the banks will finally reach the poor.

A few also complained that they were facing problems in depositing their life long savings in banks. Though earned out of hard labour they preffered to keep it at home. Now as the amount is huge they may not be able to explain the source.

For many demonetisation meant social justice as they hoped that if the rich are made poor by snatching away their wealth, things will get cheaper. A blow to rich also seemed to pacify their pent-up anger against the well-heeled class.

“Now even the rich will be at par with those like me,” said Shyam Sundar Gaur who moves around the town in a bicycle selling paper fans for Rs10 each. Gaur’s smile said it all. “The rich always looked down upon us, now they have been robbed of their vanity, I wonder if any of them can do hard work like me now,” he said.

Sandip Sahoo who runs a food stall near Futala Lake said, his business was down by nearly half. But he believed finally when there are enough new notes in the market there will be money for all, especially the poor.

Javed Raza a fruit vendor at

Santra Market

, said “I do not entirely support the BJP. Especially the decision on beef ban has left many miffed. But I would back Narendra Modi on demonetisation. No matter if it has halved my business but, I am happy that black money is being flushed out.”

“The rich were getting richer and the poor were getting poorer. The gap will be bridged now. The common man is certainly facing hardships but that will be temporary.” said Ashraf Ali a roadside shoe vendor at Santra Market.

For many it was because of their meagre income that they did not have much to loose. So demonetisation had hardly affected them.

“With a salary of Rs8,000 a month, I hardly have anything in the bank. I hope that life will become better for the poor after this,” said Sachin Mahindarkar a security guard at LIC’s office at Kingsway.

Jagdish Chaudhary a mechanic said he had saved a substantial amount running into lakhs which could not be deposited in the bank as he did not have the right documents to open an account. Now he is finding it difficult to explain the source.