Demonetisation brings manufacturing to a halt

[The_Showstopper]

Demonetisation brings manufacturing to a halt

HYDERABAD: About 30,000 units manufacturing auto mobile spare parts and about the same number of agro based industrial units have shut shop post-demonetisation with orders drying up. About 1.5 lakh MSME units (all segments) lined up along Jeedimetla, Balanagar, Shahpur, Maheswaram, Adibatla, Quthbullapur, Dulapally, Kukatpally and Cherlapally are on verge of shutting down operations after facing huge losses over the past one month. Also small players in retail textile, food processing and plastic industry are also bearing the brunt of demonetisation.




Most of the units manufacturing auto mobile spare parts in the city cater to show-rooms and shops within the city. While the units are not ancillary units that supply to any mother companies but they manufacture spares that work equally well as original parts. Since the `micro' industry completely runs on cash, be it placing of orders, transportation, payment to workers or purchase of raw materials, units have seen between 50 to 70% loss of production over the month. "I am unable to pay to my labourers as none of them have bank accounts. They are refusing to come to work, forcing me to suspend operations," said Shaik Hussain, accessory manufacturing unit owner from Balanagar.




Despite the announce ment that banks can give upto Rs 50,000 to commercial establishments, banks are not giving that amount. "The worst hit among the lot are the micro units with turnover of Rs 10 lakh to Rs 50 lakh. Also MSMEs across segments are hit badly. In most of these units, the workers are hired on a daily basis," added Gowra Srinivas, senior vice president, Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry.




Dealers in spare parts and industrial machinery are unable to meet deadlines and have even attracted heavy fines. Moiz Ahmed of 2 M Trading and Spare parts who deals in local as well as imported spare parts said, "With production at the manufacturing units dipping, the supply has gone down. Moreover, even the transportation network which operates only on cash is hit. In the whole process, I am unable to supply to my clients. I have not only lost a number of orders but even reputation in the process."

http://timesofindia.indiatimes.com/...g-to-a-halt/articleshow/56057205.cms?from=mdr

 

[Taimoor Khan]

Hallucination , delusion of grandeur and lack of mental capacity induced by Bollywood, you have recipe of deadly cocktail. The so called "cashless economy" can only work within highly developed nation, with strong banking system, strong internet access throughout population, online banking available, high street banks reaching every corner of the state, and a population who is tech savy. A country where half of the population defecate outside, where women prefer to use their bra as "safe deposit", who actually sold this BS to Modi?

 

[DHARMICACE]

Hallucination , delusion of grandeur and lack of mental capacity induced by Bollywood, you have recipe of deadly cocktail. The so called "cashless economy" can only work within highly developed nation, with strong banking system, strong internet access throughout population, online banking available, high street banks reaching every corner of the state, and an population who is tech savy. A country where half of the population defecate outside, where women prefer to use their bra as "safe deposit", who actually sold this BS to Modi?

where did you get that from your ***

 

[Taimoor Khan]

where did you get that from your ***

You are a perfect specimen of what I mentioned. Quote "Hallucination , delusion of grandeur and lack of mental capacity induced by Bollywood"

 

[DHARMICACE]

You are a perfect specimen of what I mentioned. Quote "Hallucination , delusion of grandeur and lack of mental capacity induced by Bollywood"

heck no not half of country dfecate on street only some low life towns and villages that happen and about women thing naa that thing died years ago and it was famous in all of south asia even in pakistan

 

[Sam.]

Noob article. Manufacturing is in halt due to New years is coming and not much people will want to buy 2016 model in 2017. So every year manufacturing goes down this time.

Jeez you liberals you suppose to be educated but these days (Puke)

 

[DHARMICACE]

Noob article. Manufacturing is in halt due to New years is coming and not much people will want to buy 2016 model in 2017. So every year manufacturing goes down this time.

Jeez you liberals you suppose to be educated but these days (Puke)

This is gonna be GOOD in long term BHARAT has many of these Economic projects going on it would Boost Indias Economy DMIDC GST CHABHAR SMART CITY SKILL INDIA MANY MORE

 

[T-72]

This is gonna be GOOD in long term BHARAT has many of these Economic projects going on it would Boost Indias Economy DMIDC GST CHABHAR SMART CITY SKILL INDIA MANY MORE

maybe, but it's but not going so good in the short and immediate term for the country.

 

[Sam.]

This is gonna be GOOD in long term BHARAT has many of these Economic projects going on it would Boost Indias Economy DMIDC GST CHABHAR SMART CITY SKILL INDIA MANY MORE

Can't say good or bad but it was shocking then and tiresome now. I don't have time for ATM line 3-4 hour queue and not every shop has ATM debit facility.

 

[Quibbler]

Hallucination , delusion of grandeur and lack of mental capacity induced by Bollywood, you have recipe of deadly cocktail. The so called "cashless economy" can only work within highly developed nation, with strong banking system, strong internet access throughout population, online banking available, high street banks reaching every corner of the state, and a population who is tech savy. A country where half of the population defecate outside, where women prefer to use their bra as "safe deposit", who actually sold this BS to Modi?

If wishes were horses. But let me assure you that demonetisation has a sound economic basis. We (as in people) are short sighted and superficial. Only few times have India has seen a government capable of thinking above populism, and it seems this is one of those moments.

If you analyse the architecture of upcoming GST and other structural changes for bank reforms, universal aadhar, push for cashless, one can easily see how demonetisation fits into the new paradigm.

And to rebut what can only be called as a "rant". Yes a significant portion of our population defecates outside. But what is also true is that more than 80 pc of families hold bank accounts. We have more than 500 Million internet users. Last year alone we added 110 Million internet users and by 2020 this number is expected to inflate to a minimum 800 Million. And we plan to mould our systems for high growth ,rather that carry on with sloppy legacy systems like in the glowing example in our immediate west.

Fearing that the above may be little technical for the brain that produced the quoted "rant". The outgoing RBI governor Raghuram Rajan responsible for the monetory policy, held the chair at the department of economics university of Chicago. Hope that induces some confidence in you regarding our system.

Sayonara

 

[Sam.]

maybe, but it's but not going so good in the short and immediate term for the country.

Result are hidden , good or bad time will tell.

If wishes were horses. But let me assure you that demonetisation has a sound economic basis. We (as in people) are short sighted and superficial. Only few times have India has seen a government capable of thinking above populism, and it seems this is one of those moments.

If you analyse the architecture of upcoming GST and other structural changes for bank reforms, universal aadhar, push for cashless, one can easily see how demonetisation fits into the new paradigm.

And to rebut what can only be called as a "rant". Yes a significant portion of our population defecates outside. But what is also true is that more than 80 pc of families hold bank accounts. We have more than 500 Million internet users. Last year alone we added 110 Million internet users and by 2020 this number is expected to inflate to a minimum 800 Million. And we plan to mould our systems for high growth ,rather that carry on with sloppy legacy systems like in the glowing example in our immediate west.

Fearing that the above may be little technical for the brain that produced the quoted "rant". The outgoing RBI governor Raghuram Rajan responsible for the monetory policy, held the chair at the department of economics university of Chicago. Hope that induces some confidence in you regarding our system.

Sayonara

Lol you gave troll with inferiority complex that much time. Kuddos to you bro.

 

[DHARMICACE]

If wishes were horses. But let me assure you that demonetisation has a sound economic basis. We (as in people) are short sighted and superficial. Only few times have India has seen a government capable of thinking above populism, and it seems this is one of those moments.

If you analyse the architecture of upcoming GST and other structural changes for bank reforms, universal aadhar, push for cashless, one can easily see how demonetisation fits into the new paradigm.

And to rebut what can only be called as a "rant". Yes a significant portion of our population defecates outside. But what is also true is that more than 80 pc of families hold bank accounts. We have more than 500 Million internet users. Last year alone we added 110 Million internet users and by 2020 this number is expected to inflate to a minimum 800 Million. And we plan to mould our systems for high growth ,rather that carry on with sloppy legacy systems like in the glowing example in our immediate west.

Fearing that the above may be little technical for the brain that produced the quoted "rant". The outgoing RBI governor Raghuram Rajan responsible for the monetory policy, held the chair at the department of economics university of Chicago. Hope that induces some confidence in you regarding our system.

Sayonara

was raghuram bad or good

 

[Great Sachin]

Hallucination , delusion of grandeur and lack of mental capacity induced by Bollywood, you have recipe of deadly cocktail. The so called "cashless economy" can only work within highly developed nation, with strong banking system, strong internet access throughout population, online banking available, high street banks reaching every corner of the state, and a population who is tech savy. A country where half of the population defecate outside, where women prefer to use their bra as "safe deposit", who actually sold this BS to Modi?

My car cleaner start collection money using credit card machine from this month....things changing ....I can drink Rs 10 tea using paytm from local tea shop....

Can't say good or bad but it was shocking then and tiresome now. I don't have time for ATM line 3-4 hour queue and not every shop has ATM debit facility.

Thats not gonna be forever

 

[Sam.]

My car cleaner start collection money using credit card machine from this month....things changing ....I can drink Rs 10 tea using paytm from local tea shop....


Thats not gonna be forever

I know bro ,lets hope it ends soon or BJP govt will not come in UP.

 

[Quibbler]

was raghuram bad or good

He was brilliant no doubt.
But his viewpoint on some crucial matters diverged from that of the government. Rather than being coerced into following the governments policy, he decided to pass on the reigns to a more dovish Urjit Patel and go back to academics, in spite of what felt like his likeness of the position of the RBI gov.