Thursday, 15 December 2016
Impact of Demonetization on Job Market
Change in the Economy
Indian Economy has been fluctuating drastically, there are many changes which have taken places, in the recent years, inflation is rising, GDP has increased and the rate of import and export has increased. Indian Economy is the fastest growing economy, it changes according to the total income of the country, Indian Economy depends upon market, the more market would increase, more would economy will rise. The Economy of the respond according to the changes that take place radically. But In the recent times Indian economy has become imbalanced the richer is become richer and poor is becoming more poorer, as the flow of the money is not proper as per the equilibrium.
8th November, 2016 is considered as the most iconic date, it is because on this date, the prime minister of the country took an important decision for the welfare of the country, he banned note of Rs500 and Rs 1000, so as to bring back th secret wealth of the people. Demonetization is a longterm perspective which was taken immediately for the Monetary benefits of the country. It is impacted socially and politically,the India GDP was estimated to increased by 23%, Demonetization has given vast impact on the common man, as people used to use Rs 500 & Rs 1000. Money flows from the top, but now flow of the money is completely disturbed as people are not able to get money properly for their use.
Impact of Demonetization
Demonetization has impacted every individual, as the entrance of the money has become static and the money flow in the market has become stagnant. It was estimated that 90% of the people has Rs 500 and Rs 1000 note than any other currency, the industries are also facing the loss due to the demonetization because the sale and supply of the goods have completely stopped and the cash dealing business have become slow. More or less every industry is facing major problem, whereas job market is concern, job market has stopped working as recruiters are mere looking for a candidate to work. People normally look forward to work in the capital, as here industries are not doing well they have stopped hiring meanwhile due to problem in cash flow system, where as freshers jobs in NCR is concern, due to demonetization freshers are facing difficulties in getting placed in a reputed firm because the expectation which they have from the particular company is not up to the mark.
After Mumbai, Delhi is the city where you may get numerous job opportunities, there are lot of industries which are working tremendously but now days due to rapid changes latest jobs in Delhi NCR have stopped coming up, it is because of the cash flow system which have become weak for sometime.