In the current currency crisis, Andhra Pradesh State Government decides to help its people by distributing free mobile phones for carrying out financial transactions. Rs 3000 Crores are supposed to reach this State by November 28. Currency crunch has proved how much we are reliable on our savings. Andhra Pradesh is known as the best State for its Infrastructure where thousands of IT professionals move in for jobs. Demonetization, a policy to curb illegal monetary transactions has come highly expensive for the economically backward people who depend on daily wages. Anil Bokil, a Pune based economist whose idea has transformed our nation said that an average Indian do not spend more than Rs. 20 per day. ‘Everyone needs a mobile phone for digital transaction these days’, said Chief Minister N Chandrababu Naidu. During a review meeting with RBI officials and bankers in Vijaywada on Thursday, Chief Minister had come up with this proposal. This actually proves that Andhra Pradesh is slowly transforming into a technologically advanced State. However, this has various cons.
- The economically challenged masses who are targeted in this plan, do not know how to use mobile phones.
- They do know the mobile lingo and may get robbed off by getting hacked by a third party encryption.
- This plan seems like the masses (e.g. Farmers) are being helped but they are getting swamped in unreal situations try can’t get out of. In my opinion, they’d prefer cash over digitized money.
However, it’s still better than striking against the Government who came up with this demonetization theory. At least several steps are undertaken to help the poor.