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LATEST NEWS UPDATES | No, the poor aren't sleeping peacefully -Salil Tripathi

No, the poor aren't sleeping peacefully -Salil Tripathi

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published Published on Nov 18, 2016   modified Modified on Nov 18, 2016
-Livemint.com

The rich and the middle class have their digital wallets and credit cards; they can afford to wait two weeks, even 50 days, for their money to be exchanged

One has to be astonishingly callous or exceptionally removed from reality to think that the poor are sleeping peacefully and only the rich are frightened, needing sleeping pills in the wake of the great currency-exchange drama playing out in India. For that’s what it is; old notes are being replaced with new, and a new note of even higher value is being added.

But the fantasy description of blissfully asleep poor and terrified rich is just that—a fantasy. Even a quick look at the videos being circulated of the people queueing up to change their money shows their frustration and anxiety; and even if they aren’t below poverty line, they aren’t rich.

Indeed, the rich and the middle class have their digital wallets and credit cards; they can afford to wait two weeks, even 50 days, for their money to be exchanged. It is the day-wage labourers who suffer—three of whom are given a Rs1,000 note to cover their wages; the security guard who needs smaller bills with which to pay a hospital which would otherwise not do an MRI scan of his seven-year-old son who has a lung disease, and who breaks down; the children on the street who sell toys and flowers and pirated books but no longer earn enough to eat because nobody has the small change to buy their meagre offerings; they bear the burden of the sloppy planning.

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Livemint.com, 17 November, 2016, http://www.livemint.com/Opinion/u5tLpMWLTyhqjQ590pqG5L/No-the-poor-arent-sleeping-peacefully.html


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