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  • Category: Miscellaneous

    The “DEMONETISATION”, As I Understand…

    If I take an instance of myself only, then how does this have an impact on you?

    Suppose I am having a huge cash stock at my home not yet traceable because I haven't made any bookkeeping of those not either electronically or in hard copy. So what will happen to that money? At least for sure that this lying stock of cash wouldn't be of any meaning for you. But suppose if all those money are being spent on welfare schemes then this will prove good for us but instead if the same were spent on unlawful activities then this might lead you to suffer a lot & in different ways. The unlawful activities could be anything like the loot or the riots or the threat to the democracy by persuading the illegals.

    For me "the Demonetization", have been of great assistance in order to locate all those hidden cash or money to the bank accounts & so in this way letting cash coming onto the mainstream of our country. Now as the money goes on record of the revenue department of the government & as the digital transactions have been mandatory for beyond a limit transactions, all the money movements can easily be traceable which wasn't the case earlier. The intelligence agencies can now better track the movements of any monetary transaction throughout India & works this out on countries favor.

    Look at the bigger picture & you will be surprised of its implications on either side of good & bad.
  • #639084
    I agree with the author. Whether it is legal or illegal the money has a count now and has come to banks. So the money from the bedrooms has come on to the banks so that it can be used for some purposes. It is not stagnant now. To that extent, we can say there is a benefit because of this demonetisation. Now illegal money transactions have come down and even real estate business is also trying to avoid non-banking transactions. If this money is genuinely used by the governments for welfare schemes it will be good for the poor. But I don't know how far it will happen.
    always confident

  • #639090
    For the first time in India every Individual has come under the government scanner of buying and selling and thus no one can escape without paying the tax. At every department and in every transaction the mention of Aadhaar has become must and compulsory and thus the total details of every person dealing with huge transactions are easily traced and the tax collected. No dodging activity can be done as the opposite person with whom you have dealt any profit making business, he also shows and reveals the income earned by you. So every one is the tax payer now, no matter how much he pays.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

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