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Rohit pande , Have a view on many things but happy to thras Nov, 13 2016

Is Mr Jaitley exhortation for electronic / formal payments a Mary Antionette moment for India ?


A lot would depend on what the government does with this additional mobilization of funds that would transfer out of private hands to government coffers. If they are able to provide targeted doles, social security, quality education and healthcare from their coffers, a lot of this might start making sense to Indian citizens


but have they put in place structures for all this, is change in the air ?

A lot would depend on what the government does with this additional mobilization of funds that would transfer out of private hands to government coffers. If they are able to provide targeted doles, social security, quality education and healthcare from their coffers, a lot of this might start making sense to Indian citizensbut have they put in place structures for all this, is change in the air ?

Vikram Gupta , Exploring, learning, believing Nov, 17 2016


Hahahaa. Loving the analogy!


Rahul Singhla , Thinker, Blogger, UPSC aspirant. Nov, 14 2016


India is at a brink of revolution, positive or negative no one knows. Most would claim to be positive but it might be too early. How would capitalist class react to it, will it play on the govts. direction. How will middle class business man react to the change. I met a restaurant owner in Karol Bagh, he said I will not be able to operate for next 6 months atleast.

Meanwhile govt will become super reach, and opposition totally poor. If I am not termed anti national I must say that this can have very wrong impact on the economic, social and political structure if it is not done with pure intentions. And I hope I will not be termed anti national here :)

India is at a brink of revolution, positive or negative no one knows. Most would claim to be positive but it might be too early. How would capitalist class react to it, will it play on the govts. direction. How will middle class business man react to the change. I met a restaurant owner in Karol Bag


Shantanu Kothuri , Proud BITSian, [email protected] Nov, 14 2016


You can be termed anti national when this is what the country feels:



Shantanu Kothuri , Proud BITSian, [email protected] Nov, 13 2016


Can you explain Mary Antionette moment?


Rohit pande , Have a view on many things but happy to thras Nov, 14 2016


If you can't find notes why not use paytm or bitcoins ?


Shantanu Kothuri , Proud BITSian, [email protected] Nov, 14 2016


It looks like that is happening already. Paytm registerd 435% growth rate in app adoption the day this was announced. Bitcoin is difficult for mass adoption in india not because it is new, but because its time has not yet come. I remember you shared a video about disruption and its abnormally high adoption but I believe bitcoin is not one of them. Paytm sure is going to become a mass movement if it wasn't already. Everyone using it in my workplace is astonished by how smooth and super useful it is.
It looks like that is happening already. Paytm registerd 435% growth rate in app adoption the day this was announced. Bitcoin is difficult for mass adoption in india not because it is new, but because its time has not yet come. I remember you shared a video about disruption and its abnormally high a


Rohit pande , Have a view on many things but happy to thras Nov, 14 2016


The problem my friend is on the earning side. The vast majority of people do not have access to sure sources of income for them to be able to spend on paytm. Of course game can be changed by a 10000 X govt job recruitment or a social security dole. On the narrow base that paytm has, getting 435 % is no big deal given the cash crunch in the economy. Paytm would surely do well and maybe bridge its scale of loss too relative to growth. But that cant be a national goal or can it ?
The problem my friend is on the earning side. The vast majority of people do not have access to sure sources of income for them to be able to spend on paytm. Of course game can be changed by a 10000 X govt job recruitment or a social security dole. On the narrow base that paytm has, getting 435 % is


Shantanu Kothuri , Proud BITSian, [email protected] Nov, 14 2016


"The vast majority of people do not have access to sure sources of income for them to be able to spend on paytm" this is what needs to change. As Rahul Singhla suggested culture of business will change and this change can happen only the way it is happening.


Syed Raza , In the quest of truth. Nov, 14 2016


Paytm's user base is not small:




Rohit pande , Have a view on many things but happy to thras Nov, 14 2016


With about 10 million actives, I didnt mean it in any absolute sense

But relative to the scale required to govern India

In France too people ate cakes

The Mary Antionette moment was in exhorting masses to eat it too when they did not get bread



Nikhil Dua , BITS alumnus, Market research analyst at Cred Nov, 15 2016


Paytm has 5 mn daily transactions, it cannot be small.


Rohit pande , Have a view on many things but happy to thras Nov, 16 2016


not small relative to digital economy or to other startups, but to the size of the Indian economy or to see it as an alternate to the mass economy


Rahul Singhla , Thinker, Blogger, UPSC aspirant. Nov, 14 2016


On a serious note this is an extremely important question. I think one of the three things have happened:

1.) Govt is extremely serious in making India a nation where tax is taken very seriously. In this case it has to undergo massive massive implementation in changing the culture businesses have been operating in India since independence. I am not sure of the feasibility but is surely a possibility.

2.) Govt knows what it is doing and this is just a refresh: In this case people will have to readjust by losing some percentage to the system.

3.) Govt and administration is blind to the problem as long as there purpose is solved.

Third case is a dangerous one and has a very low possibility as well. But if system fails to control the govt. things can go really out of hand.

On a serious note this is an extremely important question. I think one of the three things have happened:1.) Govt is extremely serious in making India a nation where tax is taken very seriously. In this case it has to undergo massive massive implementation in changing the culture businesses have bee


Rahul Singhla , Thinker, Blogger, UPSC aspirant. Nov, 14 2016


On a lighter note, as a matter of fact Mary Antionette never said "Let them eat cake" as the phrase is used commonly.


Rohit pande , Have a view on many things but happy to thras Nov, 14 2016


Nor did Mr Jaitley say use paytm. In fact maybe paytm didn't even ask PMO before putting his picture in the ad.

The point is not how the money is spent, but how it is earn

All young people comfortable with phones can spend on paytm / other such ones

Now its on the Indian govt + Jackie Ma + Softbank + others to fill their wallets with money to spend

Nor did Mr Jaitley say use paytm. In fact maybe paytm didn't even ask PMO before putting his picture in the ad. The point is not how the money is spent, but how it is earnAll young people comfortable with phones can spend on paytm / other such onesNow its on the Indian govt + Jackie Ma + Softbank +


Nikhil Dua , BITS alumnus, Market research analyst at Cred Nov, 14 2016


Bitcoin adoption should have been a thing by now but capitalists and govts. never wanted it to happen.

Cashless economy with card payments or paytms is not really cashless, bitcoin completely changes the game and is not under any one's control. Bitcoin!=digital payments.

Bitcoin was more revolutionary than any of these digial payments mode but it made govt. and capitalists scared, very scared.

Bitcoin adoption should have been a thing by now but capitalists and govts. never wanted it to happen. Cashless economy with card payments or paytms is not really cashless, bitcoin completely changes the game and is not under any one's control. Bitcoin!=digital payments.Bitcoin was more revolutionar