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Comment by vijaybritto | Hacker News Reader

A small town in Jammu doesn't represent the entire country you know. The impact of demonetization is incredibly bad on the poor. The GDP has come down. The govt acknowledges it in indirect ways like increasing the fiscal spending by 500 Billion rupees. It's insane that even educated people don't accept the truth and get carried away by emotional rhetoric. What are you all expecting exactly as economic slowdown? This is it!

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>A small town in Jammu doesn't represent the entire country you know

I never said it does and I never said that demonetization was successful. I was just replying with first hand experience that impact of demonetization was not too bad for the people from what I saw and that the google will show what you want it to show.

>It's insane that even educated people don't accept the truth and get carried away by emotional rhetoric

What made you think that I got carried away by emotional rhetoric?

> What made you think that I got carried away by emotional rhetoric?

Refusing to accept or understand failure means that there is something else that makes you argue for it even when there are explicit results for everyone to see. Also it was not directed at you personally, rather at anyone who supports this decision still.

Again, the amount of impact it has caused is there for everyone to see. The numbers are out. Arguing anymore about this is like arguing with flat earth society. Let's not downplay the Poor's suffering.

> Again, the amount of impact it has caused is there for everyone to see.

That's your opinion. Two people have already mentioned that what they saw is inconsistent with what you claim everyone can see.

Do you have a personal anecdote to share that describes your experience? If yes, do so.

Do you have substantive evidence that your experience has been the experience of the majority? If yes, cite such statistics from trusted sources.

I think they can intentionally dismiss it. I'm not making up anything. So many verified sources have already published multiple articles. Just Google 'impact of demonetisation' which is obviously an unbiased query.

He is talking about his own experience. What is your own experience? Leave out what you read from MSM. From what I have seen and experienced, It isn't as bad as whats reported in the media. There were some initial hiccups but otherwise things are fine. A decrease in bootlegging and other evasive/illegal activities must've been included in this "slowdown".

The thing which is currently confusing and causing slowdown is GST implementation. Most businesses don't know what to do. This is to be expected. Feels like the govt wasn't fully ready with a streamlined implementation.

This is incredibly annoying. What do you mean it's all okay? For whom? You think the economy slowed down immediately after GST? No. GST's effect is yet to come in full flow. Dude the GDP has come to 6% in such a huge economy? You think that's a hiccup? Why aren't you all accepting numbers? If there is a small hiccup, then why is there a prolonged negative emotion in the country? If you ask how, see the recent attacks by the govt on a weak leader like Rahul Gandhi, this plan to electrify all villages. There was a plan to clean Ganga, clean the entire country as well. We all know how that went. If you don't accept failure you'll never grow.

6% is a huge GDP growth tbh. Here in Europe everybody celebrates when Germany grows by 1.5% as it means EU economy is booming.

I understand that India is a developing country so growth should be faster but 6% is not that bad.

Read what I wrote twice. Where did I say or mean its "all ok"?

Nobody implied it is okay. Read carefully before responding. This is Hacker News, not your Facebook timeline.

Describe your experience anecdotally or provide citations when you make broad claims about the country's experience, and speak substantially in both cases.

I have lost or cancelled a truly significant number of orders for capital goods as a concequence of GST alone.

This is on the backs of a ridiculous plan to demonitize cash, in a cash based economy.

We saw an immediately slow down when GST hit. Certain sectors were entirely dead - real estate - for a while.

It’s been nearly 6 months, and the pain in the informal sector is now whip lashing its way into the formal economy.

Indians are born children - you are not taking toys away to make them behave.

Real estate transactions in india are one of the largest areas where tax cheating and black money goes in to. It's not surprising the sector was hit. I'm not sure if it's a bad thing.

I understand the real estate part. Perhaps it (real estate) needed some regulation (though this is probably not the right way). It was getting out of hand and out of reach of most Indians. Tax evasion is a real problem we face.

Sorry for your loss pal. Lets hope things look up soon.

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