Demonetization debate: How do People get back lost jobs
By: Amit Bhushan Date: 1st Dec. 2016
The Commercial news media has made it fashionable to observe queues on the bank branches and ATMs. However the debate of the Aam admi might be lot different. While some of the people might be looking for some easy bucks where they can get some decent income in exchange for ‘change’ to the extent that can go into the bank accounts easily. This might be spawning secondary business of sundry shop keepers like Paan walas, Chai walas, village grocers etc. who may have lost business on account of ‘Chutta’ but want to make the best out of whatever ‘Chutta’ that they may be getting. No wonder the Jan Dhan accounts and rural bank branches are witnessing deposits. With channels competing to advertise ‘exchange rates (of new vs old)’ the extremely ordinary business class is steadily becoming conscious of the possibilities. While the ‘working capital’ is impacted but some of them may take a week of punt, if returns are decent. Then there is daily wage workers also equated with landless labourer, who may have lost the contract employment possibilities on account of people facing difficulties. We already have the media coverage of factories facing a reduction in demand and have reduced employment to conserve their capital in anticipation. The see-saw in agricultural prices and ‘thanda’ property & gold market would have their impact. How are storages (official) able to perform say for their ability to stock Aaloo/Pyaj in this season and which often seals the fates the parties in power. Rise in 'channa' after a healthy monsoon is a point to ponder. The government should perhaps mandate all official agri-storages to make payment via deposit transfers either electronically or by cheques to manage bigger punters. All in all, the real debate should be around the jobs rather than the queues outside banks/ATMs however the learned friends persist with their getting things right.
The effort to evaluate ‘Make in India’ or 'Digital India' etc. seems rather down in the priority of media which is focused on queues alone in probability to get eyeballs which it has steadily lost to the social media and would continue to do so. This is because there interest is rather limited to current hot topics where as in a diverse country different people have different concerns as their high priorities. So being focused on a single issue for more than 20-25% of the time and for more than a week (that for an event with such impact and magnitude) is a recipe to the demise of the commercial news media. It is also correct that other than rona-dhona on the issue, little more is expected to come out now since it was already forecasted in these articles in managementparadise.com, that this would have falling dividends. Now with over half the expected currency or more with banks, the exercise of this magnitude is almost irreversible from a political standpoint. The state leaders can although score some brownies by specifying a list of currency related woes at different places and gain connect with people rather than generic Gyan being harped on the commercial news media. What would matter most in longer term is measures that would help ramp up jobs for those who have lost them and perhaps those as well who do not have them. This may be true for the opposition as well as parties in power at the state as well as at the centre. Incidentally, what would be the leaderships’ concerns and strategy around these, seems to be the question that is being royally ignored in the commercial news media. Incidently the media would not shy itself from proclaiming itself as being closest to the people and most relevant electorally. Ha, Ha, Ha… Let’s see the ‘Game’ evolve…
By: Amit Bhushan Date: 1st Dec. 2016
The Commercial news media has made it fashionable to observe queues on the bank branches and ATMs. However the debate of the Aam admi might be lot different. While some of the people might be looking for some easy bucks where they can get some decent income in exchange for ‘change’ to the extent that can go into the bank accounts easily. This might be spawning secondary business of sundry shop keepers like Paan walas, Chai walas, village grocers etc. who may have lost business on account of ‘Chutta’ but want to make the best out of whatever ‘Chutta’ that they may be getting. No wonder the Jan Dhan accounts and rural bank branches are witnessing deposits. With channels competing to advertise ‘exchange rates (of new vs old)’ the extremely ordinary business class is steadily becoming conscious of the possibilities. While the ‘working capital’ is impacted but some of them may take a week of punt, if returns are decent. Then there is daily wage workers also equated with landless labourer, who may have lost the contract employment possibilities on account of people facing difficulties. We already have the media coverage of factories facing a reduction in demand and have reduced employment to conserve their capital in anticipation. The see-saw in agricultural prices and ‘thanda’ property & gold market would have their impact. How are storages (official) able to perform say for their ability to stock Aaloo/Pyaj in this season and which often seals the fates the parties in power. Rise in 'channa' after a healthy monsoon is a point to ponder. The government should perhaps mandate all official agri-storages to make payment via deposit transfers either electronically or by cheques to manage bigger punters. All in all, the real debate should be around the jobs rather than the queues outside banks/ATMs however the learned friends persist with their getting things right.
The effort to evaluate ‘Make in India’ or 'Digital India' etc. seems rather down in the priority of media which is focused on queues alone in probability to get eyeballs which it has steadily lost to the social media and would continue to do so. This is because there interest is rather limited to current hot topics where as in a diverse country different people have different concerns as their high priorities. So being focused on a single issue for more than 20-25% of the time and for more than a week (that for an event with such impact and magnitude) is a recipe to the demise of the commercial news media. It is also correct that other than rona-dhona on the issue, little more is expected to come out now since it was already forecasted in these articles in managementparadise.com, that this would have falling dividends. Now with over half the expected currency or more with banks, the exercise of this magnitude is almost irreversible from a political standpoint. The state leaders can although score some brownies by specifying a list of currency related woes at different places and gain connect with people rather than generic Gyan being harped on the commercial news media. What would matter most in longer term is measures that would help ramp up jobs for those who have lost them and perhaps those as well who do not have them. This may be true for the opposition as well as parties in power at the state as well as at the centre. Incidentally, what would be the leaderships’ concerns and strategy around these, seems to be the question that is being royally ignored in the commercial news media. Incidently the media would not shy itself from proclaiming itself as being closest to the people and most relevant electorally. Ha, Ha, Ha… Let’s see the ‘Game’ evolve…