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- Category: India
- #585832Happy to see you on ISC after a long time.
Is there any alternative to the people other than to accept and support the Prime Minister Narendra Modi 's announcement on 08-11-2017? The people have no other choice except to face the economic hardships caused by this decision. For catching a handful of economic offenders, the rest of the population is put to lot of inconvenience. The Prime Minister announced that all the ATM's will work normally from 11th. November. Then he asked for 50 days time to bring the situation to normalcy. From what we see the normalcy may not be possible for another three months or more. The people are supporting with the fond hope that black money will be checked and something good will happen to them. Once nothing of that sort happens, the Prime Minister will lose his popularity and may have to face the wrath of common man.
My pension was credited to my account on the first of December. Until now I am not able to draw the money from the bank as the queues are very long and I cannot stand in the queue for a long time.Even if we brave the queues, we have to visit the bank for three or more days in week to draw the allowed amount of Rs 24000/ as there is not sufficient cash in the banks. In our area more than 90% of the ATM's are closed and the rest are fed with meager amounts to cater to all the public. The demonetization is a drastic step that could have been avoided by using other sources to unearth black money.
" Be Good and Do Good "
- #585834Now, along with the black money holders, the corrupt bank officials would also join the list of black money holders as black money supporters. During the raids, IT officials have unearthed crores of new currency notes in possession by certain individuals. It is a wonder how could such a big amount reach the individuals with out the knowledge of banks.
No life without Sun ¤
- #585836What I understand that there is a hidden agenda waiting for a very big step after 30th December dead line is over. What I presume that RBI has printed the new 2000 notes and also printing the new 500 and 1000 rupee notes with series and serial. All the notes are secured and supplied to various banks across the country and RBI has the inventory of such currencies. The present raids and confiscating of new currencies are done by police and IT authorities. After 30th Dec the government is going to have special staff who are given the currency serial numbers with them and they would raid the suspected black money holders known popularly by locals. Even Bank managers would be targeted as to how they changed the new notes to the old one and for whom they have given. All these details would lead to the fresh black money holders and they would be arrested.
'Idhuvum Kadandhu Pogum "
Even this challenging situation would ease
- #585837Welcome to Mr. Sukh Dev Singh sir. After a long gap we are seeing your presence here in ISC. We hope you will continue your presence more regularly from now on wards like in the past. In this particular thread what you and KVRR mentioned is really true. After demonetization what Mr. Modi achieved is no one know and common man is suffering like anything. Big fishes in the country are converting black money into white money. Big guns in the country are using this opportunity to convert their black money into white in front of crores of common people and Govt. of India. For this there is no answer from government and it is advising common lot to suffer some more time. Simply Indian govt. fooling common man with its inept actions. Today after 35 days, large number of angry common people revolted against bank staff at various places in Hyderabad and A.P. Mr.Jaipal Reddy one of the best parliamentarian today stated Mr. Modi's action is directionless and showing lack of experience.
Why all this exercise when the the black money in the shape of currency is about 10% . Consider the expenditure for all this exercise also. The IT Department could have conducted raids on people supposed to have black money. I am unable to understand the logic of the Government to introduce IDS when demonization is in it's agenda. The Government wilfully allowed most of the corrupt to get away with more than 50% of their black money turned into white.
" Be Good and Do Good "
- #585847Whatever taken decision by PM on 8-11-2016 might be caused so much disturbance among the people because they have their own money from the banks. Some people alleged that why did this government pose such restrictions on their own money deposited in their bank.
Mainly pensioners and employees face much problems due to demonetization. There are some rumours that some rich ones who have already hidden their black money as white. I don't know whether it is right. Prior to the directions of demonetization, Jio sims were entered into the market. I do not know for what purpose this experiment had been done by Ambani brothers.
Recently a BJP supporter gali Janardhan reddy who alleged that his friends did his daughter's marriage by donating 500 crores. I don't know how reddy got such good friends who gave cores of rupees.
Now, like adding fuel to fire, the limit of withdrawal will be pressed to 50000rupees per month. It is very surprise that government decides the expenses of common man per month. From this, money problems increase day by day.
People believe that Modi will fulfil the desire of poor and mid class ones. But, it seems to be its effect mainly upon these category people.
- #585849Why can't we wait and watch? Yes, it is true that people are facing difficulties. Yes, it is true that not the entire black money would return to the system. But it is also true that terror financing has been checked. It is also true that some black money has returned. It is also true that the industry of counterfeit currency has suffered a big shock. Isn't 'something is better than nothing'? Some dishonest people have been arrested. The effect of the steps taken by the Government will be understood only after six month or so. The success of the decision will be partially reflected in the next year's budget. Why can't we wait till 1st February, 2017, when the next year's budget will be tabled in the Parliament?
Before that, even the top economists can only speculate. Let's not fall in the trap of speculation. Let's wait for the future. Let's wait for a better tomorrow. Let's be optimist. Let's not allow the pathological hatred towards a person affect our judgement.
Caution: Explosive. Handle with care.