Demonetisation: 80% Indians see cash crunch as no big deal, hail PM Modi's notebandi

Long queues at ATMs and banks have wreaked havoc, the underprivileged being the worst hit, but most people see the brighter side

The long queues at bank branches and ATM centres, and the so-called banking crisis following Prime Minister Narendra Modi’s announcement two weeks ago that Rs 500 and Rs 1,000 were ceasing to be legal tender, do not seem to have eroded Indians’ faith in their PM or his intent to cleanse the economic system of black money.   

According to a nationwide survey conducted by C-Voter, 80-86 per cent Indians admit to the inconvenience caused, but hail demonetisation as a great move in the direction of combating the black money menace.

Since Modi’s late-evening address to the nation on November 8, when he announced demonetisation of Rs 500 and Rs 1,000 currency notes, serpentine queues have been seen at ATMs and banks; the mess has affected the underprivileged in small towns and villages the most.

The survey conducted among half the total parliamentary constituencies on Monday by C-Voter, an international polling agency, shows that almost 86 per cent respondents in urban and rural areas say the inconvenience is totally worth it. However, the NDA government's decision has been endorsed the most by the higher income groups, with 90.6 per cent of them saying the move is good. Only 12.6 per cent respondents across income groups thought the difficulties caused were an "unmanageable disaster."
 
The Centre has been facing backlash from the Opposition parties, which have united to condemn demonetisation. Critics have labelled the move unplanned and hastily implemented. Nevertheless, according to the survey, a broad consensus emerges that demonetisation was 'well implemented'. This sentiment was reflected among 71 per cent of those surveyed in urban areas, 65.1 per cent in semi-rural zones and 59.4 per cent rural respondents.
 
According to 38 per cent respondents in urban, 35.5 per cent in semi-urban and 36.8 per cent in rural belts, the problems caused by demonetisation are 'little, easily manageable'. Also, 55 per cent respondents do not want the prime minister to succumb to political pressure and roll back this courageous move.
 
While the Centre has made a bold attempt to impose a tight leash on corrupt citizens and black money hoarders, some economists have maintained dark projections for the Indian economy.
 
On Tuesday,  Lawrence 'Larry' Summers, a former chief economist of the World Bank and ex-economic advisor to the US President said, "Modi's demonetisation move is 'unlikely to have lasting benefits'".
 
The economic consequences of the Narendra Modi government’s decision on demonetisation have been debated extensively.
 
Many other veteran economists have criticised the move, nonetheless, Modi has his voters' support, as apparent from the survey.
 
Reacting to C-Voter's survey, social media was immediately abuzz with the latest development. Here too, Prime Minister's move has been hailed. One twitter user said that with this survey, debate on what people think should end.

Here are some tweets:

 

Today's C Voter poll data should rest the debate on what people think of #DeMonetisation

— GP Dash (@GP_Dash) November 23, 2016

#C_voter is one so called survey where actually no voter matters but #C stands for currency to hide voters opinion

— QueenBee ? (@vaidehisachin) November 23, 2016
 

Good to see >80% Indians support #DeMonetisation
Although I feel @CvoterIndia had selection bias.@timesofindia
https://t.co/LAUTtZba6E

— Dinesh Narayanan (@IamDineshN) November 23, 2016

#C_Voter is nothing but #Ctyapa #ciyapa #chamchagiri by paid Media,this is how journalism taking new heights in present establishment ????

— QueenBee ? (@vaidehisachin) November 23, 2016

C-Voter survey is a tight slap on Corrupt AK ,Mamta and Co . #MamtaKejriXposed pic.twitter.com/lB2Wvx2MZ7

— ????? ?????? (@Bharat_Putra) November 23, 2016