Implications of making Rs 500 and Rs. 1000 notes invalid currency and my rating of how successful it will be on each such parameter :
1. It will affect counterfeit money in circulation in India and hit ISI which is the source of such counterfeit money. 10/10 2. It will Damage politicians, especially old timers from Congress, SP, BSP, etc. who have made 100s of crores in black_money in last 50 years. 8/10 3. It will hit the terr0r!sts and their activities as most of their financing is done in cash. 7/10 4. It will affect ill-gotten money with criminals like drug_mafia and thereby break the back of the criminals. 7/10 5. It will reduce black_money in the country by making cash worthless. 5/10 6. It will help Modi win UP and Punjab election. 5/10 7. It will discourage corruption in the country by creating a disincentive to hoard cash. 3/10 8. It will help Indian government reduce fiscal deficit by collecting taxes. 2/10 9. It will help the Indian economy by giving a body blow to the parallel economy. -5/10 10. It will help small traders, farmers and other people in the unorganized sector. -8/10
In short, if the purpose was to attack black money and benefit the economy, it was a bad decision.
If the purpose was to hit ISI, terr0r!sm and criminals, it was bang on.
To me it appears to be a case of Kahin_pe_nigahein_kahin_pe_nishana.
The msin reason for generation of black money are many not one. The largest chunk is generated by real estate and there is a huge difference between the circle rates and market rates.Unless that entire regime of taxes is not brought to reasonable level which the people are willing to pay,the problem will remain.
Re: AP CM Mr.Naidu has also proposed this
by AdinarayanaSastry Burra on Nov 10, 2016 11:24 AM
CBN claims credit for good things and blames Jagan for all evils in the World. He suffering Jagan Phobia because he thinks Jagan will not allow Lokesh, his son to become CM after him
Re: Re: AP CM Mr.Naidu has also proposed this
by surya prakash malluru on Nov 10, 2016 02:01 PM | Hide message
I did not mention YSR jagans name here. Funny thing is this craps name comes every where CBNs name is there.Please understand its Jagan who spent 16 months in Jail and its congress who put him in jail. Whether it Jagan or CBN black money should come out.
A very bold step but unless future generation of black money is not controlled then this exercise is worthless.Do away with laws which encourage corruption.The most significant and fantastic suggestion is of abolishing all form of taxes and replacing it with a single tax is an outstanding suggestion and if these are all implemented correctly then even our opposition leaders will be shouting ache din aa gaye.
A very bold step but unless future generation of black money is not controlled then this exercise is worthless.Do away with laws which encourage corruption.The most significant and fantastic suggestion is of abolishing all form of taxes and replacing it with a single tax is an outstanding suggestion and if these are all implemented correctly then even our opposition leaders will be shouting ache din aa gaye.
Re: Demonetising
by Rakesh Dandekar on Nov 10, 2016 01:14 PM
In India it is not possible to control corrupt. Today govt banned 500 1000 rupees and introduced 500/2000. This means only black money will come out. Then what next. after that there is no black marketing. In India every field there is corruption beginning from high office to lower office. Last two days I am thinking the banning of old notes how govt will stop corruption. There are black money everywhere so any one is knowing please clarify.
Re: Re: Demonetising
by Rakesh Dandekar on Nov 10, 2016 01:20 PM
As per my guessing only 10 to 20% black money will come out and balance instead of paying tax and penalty they will burn the note and make money after some time this guts they have. The printing of new notes a sum 10 through crores govt. spending. this magic only for looking coming election but I dont think this will materialize. I am the retired person and depending on our children hence I have bothered. My children getting their salary directly bank account and honestly they are paying income tax regularly. I am proud to say I am also a member in india shining.
Re: So crookCongress
by Deepak on Nov 10, 2016 11:38 AM
what about 2002 ? What about those crooks ... they were idle too ? :) Oh, some of the same crooks are now in power ;)
Well there are many people who are ready to take credit for demonetizing the currency notes. Some are producers of films from South India while there are others as well.In the end I appreciate the PM for taking a bold step ahead. But I would suggest him to give more priority to the finance minister and others ministers to shine as well. This announcement was expected from the finance minister. Also I expected the strike on POK to be announced by the home minister or the defense minister not the PM.
Re: Credit for demonetising
by Ghanshyam S on Nov 10, 2016 11:20 AM
Mr. b q as per our constitution PM is the leader of the cabinet and both are the part of our cabinet so I think that is not the matter. Second, roll life and real life is very different my friend. This is for your knowledge.
Re: Credit for demonetising
by Ghanshyam S on Nov 10, 2016 11:20 AM
Mr. b q as per our constitution PM is the leader of the cabinet and both are the part of our cabinet so I think that is not the matter. Second, roll life and real life is very different my friend. This is for your knowledge.
If taxes are abolished: No motive to evade Tax - of course all monies are legal. Then what are the sources for Govt Revenue? COUNTERFEIT NOTES: Whether it is being routed thru from neighbouring countries only? AS Lot many cases are there in India for Printing currencies. DRUGS: There are many cases for manufacturing illicit liquors within India. Whether only fake currencies required for using drugs? Cashless Transactions: whether India is equipped to that state - while more people are not getting accustomed and many do not have a/cs and many villages do not have banks at all AS OF DATE whether it is possible?
