Demonetization was the worst thing to have happened in India. Purpose was self defeating. Timing was horrible.Black money and corruption could have been dealt in a different way. People involved and areas of corruption are very much open and people in power behave as if they do not know any thing. As a result economy is taking the beating. Is there any one accept and take responsibility for the blunder?
Right from that porter in red shirt on a railway station to the renowned economist from a hardward or a princeton.
Nobody, including the PM, the FM and the RBI chief, is absolutely sure about the benefits or injuries to the economy as a whole.
They too are perhaps scratching their heads as no apparent benefit seems to have emerged from the whole untidy exercise promoting more irregularities rather than curbing the wrongs in the economy.
DEMON has been the single best thing that could have happened to the country the way it has helped keep Inflation under check post DEMON. During UPA regime the high growth figures were mainly driven by 'Food Inflation' with very high MSP benefits of which did not go to the farmers but to the mandi owners, traders & corporate food stockists operating in commodities market and other middlemen who dealt in BM cash.Post DM all such speculative activities on food items using cash have drastically reduced keeping the farm to fork gap in food prices under check.N0 wonder all theses unscrupulous elements in place of real farmers who used to make windfall profits on food items are frustrated and complaining.Another positive of DEMON and digitization is low level of cash availability and less of BM transactions which in turn will reduce inequality as it checks the trend of rich becoming richer. That is why perhaps ordinary people welcome DEMON rather than rich people and elite economists.Even if growth is less it is more even for sure.
Tell us what the Govt. has done for aggrarian sector yearwise and what it expected to achieve ,what it achieved and what actions it did to avoid variance yearwise and bring out the causes to be attended.What has been done for mechanization, better yield giving practices and ensure water availability,BRING TO BOOK ALL ADMINISTRATORS WHO CLOSED RIVULETS AND PONDS and allowd building to come up.In my dist.I see a board along a old rivulet -------Canel."There is no canel.Call to book all the Collectors of this Dist.to books who had allowed allowed that to happen. Bring out the achievement of the Govts. in aggrarian sector YEARWISE for the past 70 years and the contribution of Economics class to that.The aggregates are numerals . they give themselves for addition and subtraction not for work in the fieldR.PONNAMBALAM
Whatever Economics may say Growth, Froth etc.wittingly or unwittingly reports, proud at it , had appeared in newspaper that 47%( ie close to half of GDP) of GDP growth is the contribution of Informal Sector the euphemism for Black money sector, So depending on the extent of black money now in the system the GDP growth out of that 47% has to be less now if that black money contribution to growth is less This is conclusion of lay man.The GDP may not grow and growth may be hard to come by because there may be some substantial % of the then existing black money that has ceased to be in circulation now.The Business and market used to it’s old ways of Flattening the country’s economy has enough money to enjoy and not to waste time in doing business at the Govt’’s terms whether good or bad.If the country seeks growth the Govt. has to find new ways for that.It is not happening.We are beating around the bush. Who cares demonetization is success or failure.?With all the growth, GDP figures trumpeted every year from that 5% to 7% say for 60 years has it contributed the betterment of life of the man on the street who by purchasing power parity has the same standard of life as he had 60years back.What all growth India has achieved? 57 people having the wealth of 60% of the bottom strata.Economics compare our performance figures sector wise with that of China or Japan and tell or teach us how to go ahead without
Stop these foolish analysis based on concocted govt figures.....reality is rich got richer like auto, white goods registering growth, poor getting poorer with pulses and vegetables demand down.
The RBI Governor is missing his dates with the parliamentary panel, unable to explain if the count of notes matches the deposits !
During the first two days after the announcement of demonetization, people rushed and colluded with bank managers. The currency deposited has to be reconciled with the credits to the accounts for the day. If the credit is more than the currency, someone else is debited, right ?! That will be RBI.
So, is that the reason that the RBI governor is avoiding the parliamentary panel? if not, why doesn't he confirm that the notes have been counted to tally with the credits into the accounts?
If I had 1 crore rupees of black money, I would have had to pay penalty to deposit into the account. So what do I do? Like Sahara did and the AIADMK did, I will get a 'truckload' which the can't be counted. The bank will provisionally credit and then when the currency goes to the RBI currency chest, confirm the credit, knowing fully well RBI couldn't have counted the flash flood of billions of notes.
Re: Currency collected less than credit into accounts !
by Rajesh Chheda on Jun 19, 2017 03:08 PM
Till poor people who are real bankchors stop supporting Modi and BJP, tax payers are cursed to pay for fat salaries of corrupt, defaults of bankchors poor and rich. Modi is worst PM but poor cannot understand this until they lose their jobs and go hungry.
Re: Currency collected less than credit into accounts !
by Bharat Kumar on Jun 19, 2017 12:10 PM
if you understood the above, one can understand why Manmohan Singh was anguished and called the exercise a Monumental blunder and Organized loot.
Re: Re: Currency collected less than credit into accounts !
by ishrat quadri on Jun 19, 2017 02:21 PM
But the over wise PM does not understand or ready to understand-realize. It was indeed a monumental blunder and the effect will be felt for decades into the form of actual loss to the country. Alas.. it has been done by the so called nationalists. Very unfortunate.
RE DIFF AND ECONOMIST WRONG , WE DO SMALL TRADING WORK OUR PAYMENT OUTSTANDING VERY HIGH WAS PAST YEARS NOW FROM NOV PAYMENT ALL CLEARED NOW WITH WE ARE HAPPY , NOTE WHERE FROM CASH COME NO IDEA IT IS AFFECT OF DEMO
Re: DIS AGREE
by Rajesh Chheda on Jun 19, 2017 03:10 PM
Yes this has happened in all markets. Going forward I can assure you half of firms in your line will die a painful death....just pray that yours is not one of them.
Re: Re: DIS AGREE
by rnages waran on Jun 19, 2017 03:27 PM
sorry say Rajesh Now bank lending more funds for us genuine small businesses people No Bribe , No going behind bank managers etc The impact will result slowly If True Just analysis . All Noted economist are wrong, They were criticizing demo , Because they talk on growth GDP Never talked White Money. This people made Block By chit us for 70 years. IF the economist are then why we did not improve for several years .Al wrong.. One basic question how country can be. All 1- rich. 2 All Poor 3 SUper rich, Middle class and POor . which economist can do. what ever condition I said are exist in world > all because economist world People keenly observing what is development happening after 1 year - 5 year and 10 years. then they will conclude. It is test happened in world result will come after some years
the number and amount of tax and taxpayers has increased many folds due to demonetisation.Those involved in parallel black economy greatly effected. the farmers have had the same problems since the last 60-65 years but just that courtesy ,the support of combined opposition parties, got a reason to blame for their miseries
Re: strongly disagree
by shivraj kasana on Jun 19, 2017 03:08 PM
AGREE WITH YOUR STRONGLY DISAGREE ON DEMONETIZATION ,BUT DONT AGREE THAT OPPOSION PARTIES HAS ADDED TO MISRIES OF FARMERS ,IT WAS CONGRESS RULE LAST 60-65 YEARS, SO BJP IS NOT RESPONSIBLE. S.S.KASANA
Modiji has take the blame squarely on him for having given the FM job certainly not for his economic acumen but some thing else which the country may not be interested in understanding.Inspite of having stalwarts like Dr.Swamy ,and Arun Jaitley must have worked under him for few years before getting into this job.Arun apart from the horribly wrong demonitisation move,which he can play act as act of God also has done irreparable harm to Indian poor millions by not going after Sonia,Vadra and scores of others.Modiji after all his poll promisses,should not try to fullfill promisses by putting erudite,honest,and true Hindu star Dr.Swamy who has been enumerating methods to get black money.If modiji introspects and truly wants to correct himself,throw out Arun Jaitley and bring in Dr.Swamy as FM with full powers and watch the results
