I have heard this argument of the Indian middle class standing in lines but having a positive outlook of the future. That’s the general sentiment floating around. Many economists and social scientists in India have been highly critical of the move and its implementation too. The govt didn’t present data about how much dirty cash was scooped up through this move. It’s narrative changed from bringing back dirty money to digital transactions.
The population hit hard by this move is the poor, which frankly hasn’t got the kind of access to technology to be using credit and debit cards. Access to smartphones hasn’t picked up to the extent of substituting it as an alternative to cash. What about them? They form a large chunk. Not a lot of media attention has been given to this section of society - the daily wage earners, factory workers paid in cash, farmers[0]. Who’s talking about these folks? I would be more interested in some real insights into this instead of rhetoric and searching for some silver lining.
[0] https://thewire.in/89578/costs-of-demonetisation-dampening-s...