Farmers & unskilled workers hit hard

By Our Reporter

SHILLONG, NOV 27: Confederation of Industries of Meghalaya (CIM) secretary general  Rohit Jain informed that since the demonetization of the Rs 500 and Rs 1000 notes, the unskilled workforce and the farmers in Meghalaya have been the two segments of the working class who have suffered the most.

Even as Jain hoped that the demonetization will bring in longtime benefits to the people of the country and the economy, he, however, said that his sympathy are with those who depends on their agricultural produces and daily wage for survival as they are  desperately trying to tide over the crisis.

Jain informed that the transportation of goods and services is another sector that has been hit hard by the demonetization. He said, “The demonetization crisis is of course short term, but nonetheless transportation has been hit as transporters have reduce their movement due to non-availability of the new notes.”

As the secretary general of the CIM, he informed that the unskilled working class in factories across Meghalaya is also experiencing the financial hardship.

Speaking about the farmers, Jain said that the farmers and villagers in the rural areas are facing insurmountable financial problems as banks are few and far between for them to exchange the old notes for the new ones.

Jain, however, said one can take solace from the fact that the demonetization decision of Prime Minister Narendra Modi will have a long term benefits for the nation’s economy.  But, he cautioned, that the nation will surely head into a short term recession in all fields of business which will take time to re-bounce as visualised by the economists/ leaders/business houses across India.

Jain also was of the opinion that the demonetization will surely hit curb black money which is the need of the hour and put a halt to the counterfeit currency being flushed into India from across the borders.

Jain also said the impact in curbing terrorism and insurgency activities within India will also get a boost but that he said will be for short time till the countries responsible for funding such activities find other ways of arming such groups again.

Speaking of the woes of the farmers, Jain said that the farmers have been forced to sell their produces at peanut and have even dumped the perishable products as they have been unable to sell due to no money circulation. To add to the economic woes, he said that the non-stop threats from leaders to penalize persons accepting such notes have only aggravated their situation.