Demonetisation having an age-wise impact: Expert

Kolkata, Nov 18 (IANS) Thriving on plastic money, the younger generation seems to have adapted relatively easily with the central government’s decision to spike Rs 500 and Rs 1000 notes, a population studies expert observed on Friday.

“There is an age-wise impact of demonetisation. Since the current economy is adaptation dependent, the present generation is transitioning relatively easily as they have been using plastic money all along.

“Be it paying for transport, booking movie tickets, purchasing goods, even groceries, they have had a smoother transition than their parents,” Partha De of the population studies unit of Indian Statistical Institute, Kolkata, told IANS.

Prime Minister Narendra Modi announced the demonetisation move on the night of November 8 to crack down on corruption and black money.

“The very aged are completely dependent on cash transactions whereas the youngsters lead a fast life and plastic money caters to their needs.

“The generation in between the present and the elderly, is trying to balance it out. This demography of Indians uses plastic money to some extent but is largely used to cash transactions,” he added.