Modi Plunders India’s Cash. Indians Cheer.

[ravi gupta]

https://twitter.com/x/status/804267652805857280

So with a full month to go it appears that almost everything will come back, which essentially means that govt's main hope and perhaps the single major objective of demonitization that a huge portion of it wouldn't come back and they would be then able to use that amount for whatever they want (R Jagannathan even went as far as to say that jan dhan accounts would get a cash reward before election in one of his articles!) did not work out. So if there was black money stashed under beds or in mattresses, people have managed to get that into the system and legitimize it without paying a dime extra and on the top of that banks would now pay 4% interests to them. If you watch Chidambaram's interview that he gave within a week of demonitization, he predicted exactly this. No wonder the govt is now changing the narrative from black money to digital transaction. Past few days have been all about digital transaction from govt's PR machinery.



You have no idea what you are talking about. If everything comes back to the system it is actually a failed exercise.

Sir,how,r u suggesting black economy is good for nation.

 

[jaunty]

Sir,how,r u suggesting black economy is good for nation.

Arre nahi bhai, read my whole post above, it should tell you. Govt was banking heavily on the assumption that a portion of the money (~3 lakh crore) wouldn't come back and rbi would be able to reprint it and give it to govt as dividend for use. It was a good idea in theory but as you can see, the trend is not looking good. If everything comes back to the system that would mean no gain for the govt.

 

[nair]

The impact on common man is huge, It may be a short term as the common man is expecting this issue to be resolved in a month or so ...... Inspite of the hardships there is hardly any opposition for this move, do not forget every Indian is facing hardship....The reason is simple, common men doesnt suspect the intention behind this move.....The salaried class is not affected in any way as their money is safe in banks, but look at other sections as traders and business class, all of them have been hit big time, and they have no clue when their business will be back on track..... I would say lot of thought has been put in to before taking this move, Yes it could have been better..... But If the secrecy was key, then there is hardly anything more one can do.....

 

[ravi gupta]

Arre nahi bhai, read my whole post above, it should tell you. Govt was banking heavily on the assumption that a portion of the money (~3 lakh crore) wouldn't come back and rbi would be able to reprint it and give it to govt as dividend for use. It was a good idea in theory but as you can see, the trend is not looking good. If everything comes back to the system that would mean no gain for the govt.

You have a valid point sir,However all the black money is very difficult to re-enter in banking.Politician,builders,businessman has huge cash with them,they can manipulate small but not in big way.
Even some black money is coming,IT will send notice for heavy cash deposit in bank with penalty,
Below is the link.How we are going ahead in cashless economy.

Note ban sees 30 lakh new bank accounts, SBI alone opened 11.8 lakh accounts

Source: https://defence.pk/#ixzz4RaZGMLkM

 

[jaunty]

You have a valid point sir,However all the black money is very difficult to re-enter in banking.Politician,builders,businessman has huge cash with them,they can manipulate small but not in big way.
Even some black money is coming,IT will send notice for heavy cash deposit in bank with penalty,

That's an assumption. Deposit data shows that a significant amount has already entered the system and by the end of Dec it should be closer to the obsolete notes in amount if this trend continues. Only idiots keep money in stashes, most black money holders invest it which means that the money is in circulation and would find a way to the bank.

Below is the link.How we are going ahead in cashless economy.

Note ban sees 30 lakh new bank accounts, SBI alone opened 11.8 lakh accounts

Source: https://defence.pk/#ixzz4RaZGMLkM

Cashless economy is a hogwash. A country of India's size, population and problems can never be cashless, certainly not in the foreseeable future. You can encourage people to use digital banking which stands at 2% of total transactions now. Maybe it will go up to 4% or 5% but 90%+ of the transactions would continue to be in cash in the next decade or so.

 

[Cyberian]

What can you expect from a nation that has democratically elected, under no force or coercion, a Hindu extremist Government to power.

 

[jaunty]

The impact on common man is huge, It may be a short term as the common man is expecting this issue to be resolved in a month or so ...... Inspite of the hardships there is hardly any opposition for this move, do not forget every Indian is facing hardship....The reason is simple, common men doesnt suspect the intention behind this move.....The salaried class is not affected in any way as their money is safe in banks, but look at other sections as traders and business class, all of them have been hit big time, and they have no clue when their business will be back on track..... I would say lot of thought has been put in to before taking this move, Yes it could have been better..... But If the secrecy was key, then there is hardly anything more one can do.....

From 50 days (till 30 dec) it has already become one or two quarters, and you say it was well thought out?

https://twitter.com/x/status/804297815887380480

 

[911]

Does that 11 lakh crore worth cash exclude tax penalty?

 

[hell9214]

People don't have ready cash, all cash dependent businesses (and there are thousands of them) have been severely negatively impacted by this move, sorry, but there is no way for anyone to put a positive spin on this. Common people from all walks of life are suffering.

[QUOTE="T-72, post: 8963319, member: 1on't know a single person who is happy about this demonetization business, everyone from paanwaalas and auto drivers to businessmen and housewives are complaining. Everyone has been sending their domestic help to stand in line and convert their money to white, 2.5 L at a time, so "windfall" for some but life thrown out of gear for everyone, no cash/huge lines in ATMs to withdraw a paltry amount.

Shit move by modi, these idiots cheering online are either lying or are government worshiping zombies/operatives who can't think for themselves.[/QUOTE]

No its the best move by modi nd its government u know that this will help to drain out all money that was stored by people to hide the tax... nd he has NT only banned notes bt he also sending police to every person house fr search of notes whether he was businessman leader of any party it doesn't matter to him u know few days back one leader was arrested for storing 40000 Carore Rps in cash .... until now only in around 1 month u know how much India get revanue nd he was giving to people NT storing that fr himself. Nd now in India we have new notes in market in jst only 1 month

 

[T-72]

No its the best move by modi nd its government u know that this will help to drain out all money that was stored by people to hide the tax... nd he has NT only banned notes bt he also sending police to every person house fr search of notes whether he was businessman leader of any party it doesn't matter to him u know few days back one leader was arrested for storing 40000 Carore Rps in cash .... until now only in around 1 month u know how much India get revanue nd he was giving to people NT storing that fr himself. Nd now in India we have new notes in market in jst only 1 month

The idea may be good but like all things desi, the rollout is a disaster, no efficiency, things still happen the old socialist babudom way, chaotic and badly managed.

I don't care about the small handful of crooks they are busting, more pressing daily concerns to tend to here.

shit move, the common folk shouldn't have been dragged into this bs, 20 days and counting with no signs of improvement, hope stuff gets back to normal soon.

 

[911]

If this scheme failed then government will be discouraged from taking any other radical steps, potentially including the one announced against undisclosed properties. Any future step however will be opposed/criticized by the opposition irrespectively. If Indians need changes but without any suffering then better stay with status quo.

 

[CorporateAffairs]

Around 9Lakh CR deposited in banks till date.

 

[Abba_Dabba_Jabba]

This whole "Demonetization" saga has once again proved that Indian economy is ready for shocks. After 2008 this is another one and Indian economy is back on track after just 3 weeks.

Also in between this AAPtards vs Bhakts battle, it's the Indian Economy which is seen as the only winner.

Note: Everybody celebrate the "New Year" before 31st, because we don't know when will that fearful voice with "Mitron" or "Bhaiyon Beheno" comes out again.

 

[T-72]

this AAPtards vs Bhakts battle

 

[NirmalKrish]

She has explained the issue very well in limited time, people from international communities were getting false image due to opposition's shout.