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  • Category: India

    Demonentisation and Corruption


    Has the demonetization exercise by the central government started producing any results? Could corruption be curbed? Could the money hoarders be brought to books? Let us have a healthy discussion based on facts and figures.

    We are aware of the truth but somehow we tend ignore it.
    Demo the latest catch word!
    The exercise was to curb corruption and bring in the parallel economy in black money to the mainstream.
    Who are hoarders?
    Babus in the first order.
    Go to a Registrar's office and you would know. Undervaluation of property and the resultant loss to exchequer is paramount.
    We need not discuss about the corruption in Defense Budget for we all know how many scandals are there!
    Railways. Some gentleman acquired crores from just rigging bottled water supply.
    Customs and Excise department. We do not have to discuss as that as those who have dealt with them know how it works.
    Income Tax deparment - that is a good laugh!
    Had the exercise netted any of them?
    Business men do not hoard cash. Because that would be a waste of resources.
    Who hoards money in Cash?
    Only Politicians and Bureaucrats?
    Any body from that Caste prosecuted or brought into picture?
    You got to be joking Mr.
  • #591246
    Wow what a dig at Demonetization and corruption of high order. Surely the demonetization may be aimed at controlling corruption, but it has back fired on the common man very much to the extent that his hard earned money was not able to be put in his account and suddenly the RBI says nothing doing. Even today there are many common public who are holding the old 500 and 1000 rupees notes and who are eligible to exchange the same at RBI are now being advised to tear off the notes as they wont be accepted. The government says it can be done up to 30th March but RBI says no. Why this is not addressed so far. The black money holders have exchanged the old for new notes in silent mode , thanks to the over whelming cooperation of their bank branches then what about the common man woes. That remains same and unattended. And the corruption do prevail.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #591278
    What a great thread from the author!
    Gangadharan,
    The demonetization did not help to bring back the black money, but helped to continue to hold their black money as Pink money (2000 rupee currency notes) with the help of corrupt top officials of Reserve bank and other banks of India. Black money still remains as black money even after abolition of old 500 and 1000 currency notes.

    Mr. Modi is blinking and silent. What to do? We cannot change the fate of India and Indians who have vowed to live with black money.

    No life without Sun ¤

  • #591302
    Gangadharan, I can understand the anguish you have. You can have definitely empathisers and sympathisers on this matter, depending on one's own experience once or more.

    However, regarding the demonetisation action alone, I have a different view. I have made that known in the GD and in my responses to some other threads.

    I personally feel that the real main purpose behind withdrawal of currency is not recovery of black money. Whatever said in that regard was just for public consumption. The government was compelled to take that drastic step as that was the only alternative left to 'kill' the fake currency in circulation. Saying and giving details about that might have some effects on international relations, nation's discreet security, nation's image in front of other nations who hold some regard and respect to us.

    Otherwise the PM would not have avoided making a clear speech and declaration in parliament.

    However the currency withdrawal had its effect on people and small level corrupt people. People adapted their mind to digital methods of transactions. Corrupt and tax avoiding people in small level would have changed their mentality and turned to be tax compliant and honest and non-corrupt individuals.

    I feel that it may need some more years to know the real truth about demonetisation, when files would be declassified.

  • #591346
    Venkit,
    this is not a personal response or rebuttal but your reply is exactly what I was afraid of. As in the first line of my thread, I repeat in a different vein "some of us know the truth but tend to ignore it". I perceive that informed and knowledgeable Indians are not up and acting responsibly.
    One catch word in the DeMo was "end corruption".
    Do we want to end corruption? Clean up the Babudom. That should have been the first step rather than putting the common man to agony. Does any politician have the guts to do that? Kejriwal tried but they simply put him in the icebox.
    About Fake currency and terrorism. Where do you think the terrorists get their munitions? Apparently they do not have the expertise nor facilities to produce them! Do you not think that is a joke on the whole of the world?
    The State, The Establishment are there to Control and not to Facilitate.
    (The upper cases are used to highlight as I am unable to highlight them in the usual manners.)
    However, the World is still spinning on its axis and revolving around the Sun as expected so there may be better days for humanity.


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