Reserve Bank of India has finally declared that 99.3 % of demonetized 500 and 1000 currency notes have returned to Reserve Bank of India. Do you think that demonetization was successful  in eradicating black money ?

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  • Re: Demonetization - Aftermath

    by » 2 years ago


     corruption failed demonetization. A country where there is transaction of hundred million Rs. of bribes how some believe that country have not black money. No one use white money for bribes.


    Thank you said by: arjun sai

  • Re: Demonetization - Aftermath

    by » 2 years ago


    It is totally impossible to root out black money , especially in a corrupt developing country like ours. But necessary , harsh steps have to be taken from time to time to stunt the growth of black money which is what demonetization did . Eminent brains have come up with different versions depending on what their political leanings are. Here is a more or less detailed fair analysis of the effect of demonetization that make us lay persons understand how it sets a chain of actions and reactions within the financial system

    https://www.quora.com/99-3-demonetised-notes-came-back-concedes-Reserve-Bank-of-India-Does-this-mean-that-Modis-demonetisation-did-nothing-for-India/answer/Deepak-Mehta-2?share=436ea63f&srid=uQUv

     


    Pay no mind to those who talk behind your back, it simply means that you are two steps ahead !!!


    Thank you said by: arjun sai

  • Re: Demonetization - Aftermath

    by » 2 years ago


    usha manohar wrote:

    It is totally impossible to root out black money , especially in a corrupt developing country like ours. But necessary , harsh steps have to be taken from time to time to stunt the growth of black money which is what demonetization did . Eminent brains have come up with different versions depending on what their political leanings are. Here is a more or less detailed fair analysis of the effect of demonetization that make us lay persons understand how it sets a chain of actions and reactions within the financial system

    https://www.quora.com/99-3-demonetised-notes-came-back-concedes-Reserve-Bank-of-India-Does-this-mean-that-Modis-demonetisation-did-nothing-for-India/answer/Deepak-Mehta-2?share=436ea63f&srid=uQUv

    I agree with the points mentioned in the answer are valid but the black money accumulated by politicians/businessmen were somehow converted to white through various channels such as hawala, buying land, jewelry etc. Even today the policeman, traffic police, politicians continue accumulating black money and property. Until strict laws are made to check illegal land grabbing , more than genuine income, black money problem cannot be curbed.


  • Re: Demonetization - Aftermath

    by » 2 years ago


    Demonetization mighthave not achieved all that it was supposed to. But definitely there has been few positive changes that will help country in a long run. Corruption is the fabric of this country and it is Impossible to throw it out completely. That is an unfortunate situation. But I welcome the move as someone dared to take such decision without thinking too much about aftermath of it. It definitely upset a lot who suffered a great loss.


    I am open to experience what life's mystery bag holds for me

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  • Re: Demonetization - Aftermath

    by » 2 years ago


    I think it has been disappointing to see what the RBI has been revealing in terms of data relating to demonitization which reveals that Black money has been converted into white money, as a common man I am pretty much disappointed with the way it was handled in terms of operative effectiveness.

    However what has been done is done & it requires some courage to do such actions all of a sudden which itself tells the person at the helm of affairs was doing all that he could albeit individually.

    I personally believe that BJP as a party has many loopholes in their members. The party is not as strong as the leader, rather the leader is as strong as the party members who are no better than Congress, though not all of them. But atleast a good leader is better than a Pappu!


    Life is like a boat in a sea, there is a lot to learn, so never close your mind to your limited experiences!


  • Re: Demonetization - Aftermath

    by » 2 years ago


    Demonetization has had one major achievement , which is increased tax payers , almost 30 percent more at 56 lakh tax payers ..all these people were out of the tax system earlier ..


    Pay no mind to those who talk behind your back, it simply means that you are two steps ahead !!!


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