Opposition members are paid handsome salary, perks and other allowance by the people. They and their party workers are supposed to help people and not black-money and fake note producers. Banerjee and Kejriwal crossed all the limits of decency to protect their ill earned wealth in the name of poor.
.....smilingly in a queue with patience for his turn to come and withdraw his weekly need of rs.2000.With this kind of example, there is no reason for any kind of chaos or mayhem at the ATMs and the Banks. Congress cna use priyanka and sonia too to help people understand how smilingly one can stand in queues and let the demonetisation a huge success, failure of which anyway not being an option.
.....to the govt....both political and economic ! Whatever the odds now, failure of demonetisation is no longer an option......a billion-voices have collectively spoken against corruption and blackmoney which was destroying all the efforts to develop and strengthen our economy. The process of implementation is going on fine.....except for what anti-bjp lobbies make out of it for their political survival.....the govt. and the citizens have no axe to grind .....it is purely an naction meant to rid the economy of blackmoney to the extent possible.....a misssion that has been hugely achieved as evidenced by the extent that sections of the political opposition are feeeling rattled and making noises ! However, this unprecedented example of Citizen-Government Partnership is far too strong for any short-term fallout to breach the long-term concrete gains.
It was needed for corrupt Babus and indisciplined politicians but common people were made victim first. Will Modi take any action on suspected corrupt Babus and politicians including those who are spreading hate among societies to divide the people.
Re: Stroke
by rishi on Nov 21, 2016 07:22 PM
Yes. This is being done in a continuous mode and you will see good results soon in the form of higher-purchasing power of every rupee you earn.....and less dishonesty around you ! Just have patience.....BJP-Led-NDA is committed and has made itself capable first by staying above corruption as far as the top-stalwarts are concerned.....they are therefore well-positioned to question any discrepancy in money-matters of the govt. atleat that comes to their notice.....and they have a very strong vigilance section which is enabling them to reach at all sources of generation and misuse of blackmoney.
Playing to one’s strengths is a golden rule in sports and politics . Having decided on demonetization, Mr Modi appears to have ignored this golden rule in at least two areas: 1. Since May 2014, the BJP and Mr Modi’s popularity has been steadily increasing, with only a few glitches here and there, but the widespread distress caused by demonetization to common people all over the nation , may well see a halt to the rising popularity graph.Especially if the cash crunch goes on for more than a month.
2. As a globally significant economy, India was watched with interest as the fastest growing large economy. After demonetization there is going to be an uncertain period of low growth rates , maybe even below the UPA’s 2014 figure of 6.9 %. In one stroke, Mr Modi has thrown away the advantages we had in world forums as a large well managed economy.
It will also be impossible for Mr Modi to shift the blame for any negative fallout on bureaucrats or others since this is seen solely as his decision, kept secret from even the FM and the CEA.
After 13 days today I was able to enter a bank without much of a queue and withdrew some amount from my account. The bank cashier was reluctatnt to give me denominations in 100s and wanted to give me mostly in 2000 notes. Unless there are plenty of 100 rupee 50 rupee and even 500 rupee in circulation people will find it difficult to use only 2000 notes in day to day life as no one could give you cahnge.
The accumulation of 500 rupee and 1000 rupee note happenned only because the ATMs and Banks would give only the high value currency. With the 2000 rupee notes now in circulation the future day to day requirements for smaller change will be difficult for everyone.
I wonder why the Government chose to print 2000 rupee notes at all.
Re: Demonetisation and after effects
by bakchod on Nov 21, 2016 04:44 PM
I wondered too. But then I read somewhere that they needed to replace the value of the demonetized currency as soon as possible. So suppose it takes 1 month to print 3.5 lakh crore in 2000 notes, it will take 2 months to print it in 1000 notes and 4months to print in 500 notes. So time was one factor. Another factor is that while the average retail transaction size by the end-consumer is probably around 100-200 rupees, the average transaction size of the supply chain from producer to consumer is probably much bigger say 15-20,000 upwards and running to maybe a lakh. (E.g. A small shopkeeper would buy 5000-10000 rupees of stuff from a distributor per day). So to keep the supply-chain running, much more money is needed immediately, and hence 2000 notes were required because it is the fastest way to replace the 15lakh crore of demonetized money.
Once this became clear to me, I felt that the govt should have printed 5k and 10k notes also and announced that these would be discontinued after 12 months when the supply of 500 and 1000 rupee notes became normal. So all those who are having weddings could easily be given 2.5 lakhs in 10k notes and this would not disrupt the cash distribution to the ordinary citizens. Traders and supply chain people could also have been given 2-3 lakh each in 2k, 5k and 10k denominations. The time saved by printing 5k and 10k notes instead of 2k notes could have been used to print good quantity of 500 notes before the demonetization was announced.
Re: Demonetisation and after effects
by bakchod on Nov 21, 2016 04:45 PM
I wondered too. But then I read somewhere that they needed to replace the value of the demonetized currency as soon as possible. So suppose it takes 1 month to print 3.5 lakh crore in 2000 notes, it will take 2 months to print it in 1000 notes and 4months to print in 500 notes. So time was one factor. Another factor is that while the average retail transaction size by the end-consumer is probably around 100-200 rupees, the average transaction size of the supply chain from producer to consumer is probably much bigger say 15-20,000 upwards and running to maybe a lakh. (E.g. A small shopkeeper would buy 5000-10000 rupees of stuff from a distributor per day). So to keep the supply-chain running, much more money is needed immediately, and hence 2000 notes were required because it is the fastest way to replace the 15lakh crore of demonetized money.
Once this became clear to me, I felt that the govt should have printed 5k and 10k notes also and announced that these would be discontinued after 12 months when the supply of 500 and 1000 rupee notes became normal. So all those who are having weddings could easily be given 2.5 lakhs in 10k notes and this would not disrupt the cash distribution to the ordinary citizens. Traders and supply chain people could also have been given 2-3 lakh each in 2k, 5k and 10k denominations. The time saved by printing 5k and 10k notes instead of 2k notes could have been used to print good quantity of 500 notes before the demonetization was announced.
After 13 days today I was able to enter a bank without much of a queue and withdrew some amount from my account. The bank cashier was reluctatnt to give me denominations in 100s and wanted to give me mostly in 2000 notes. Unless there are plenty of 100 rupee 50 rupee and even 500 rupee in circulation people will find it difficult to use only 2000 notes in day to day life as no one could give you cahnge.
The accumulation of 500 rupee and 1000 rupee note happenned only because the ATMs and Banks would give only the high value currency. With the 2000 rupee notes now in circulation the future day to day requirements for smaller change will be difficult for everyone.
I wonder why the Government chose to print 2000 rupee notes at all.
COMMON MAN SUFFERING IS DUE TO INCOME TAX HORRIBLE STEPS THAT THEY TOOK TO WIPE OUT SO CALLED BLACK MONEY .BURN INCOME TAX BUILDINGS AND FROM NOW ON NO INCOME TAX TO BE PAID BY COMMON MAN WHICH IS HIS HARD EARNED MONEY
