Demonetization: 3 steps to Gutters
1. Printing the Rs 2000 first never made sense with out a middle value note, it should have been Rs 500 to enable the economy run. Rs 100 is too small to make Rs 2000 viable. Bulk payment was always good for Digital India and mostly resorted to by educated citizens, so that was the lamest excuse ever heard.
CORRECTIVE: Should have stopped printing Rs 2000 and started printing Rs 500 on emergency footing. Was it done?
2. Exchanging scrapped notes over the counter for new, lead to huge chunks of black money to be converted to white and formation of incredible queues in banks due to proxy exchangers. Why was that required for bank account holders? Wouldn't a separate deposit and withdrawal make queues run faster? Only those without an account should be allowed for exchange on providing valid proof of address, pan, etc. Would have gone a long way to promote banking too.
CORRECTIVE: Immediately stop of exchange over the counter but took more than two weeks to implement, why?
3. Declaration of Unaccounted Deposits In Old Notes To Attract 50% Tax, 4 Years Lock-In. What does that achieve except 50% of Blood Money is now valid white money to be reinvested in terror, drugs, trafficking, etc. Majority of Black money is not untaxed money but blood money from criminal activities like drugs, prostitution & trafficking, smuggling, etc.
CORRECTIVE: Enforce a maximum limit based on profession/business and previous years declared income. Keeping in view how many relatives or employee account is associated with the account in question and their viable possible account balance. Will it be implemented?
If BJP fails to win election it won't be because of demonetization which every Indian supported, but because of the subsequent defanging of the move! more
CORRECTIVE: Should have stopped printing Rs 2000 and started printing Rs 500 on emergency footing. Was it done?
2. Exchanging scrapped notes over the counter for new, lead to huge chunks of black money to be converted to white and formation of incredible queues in banks due to proxy exchangers. Why was that required for bank account holders? Wouldn't a separate deposit and withdrawal make queues run faster? Only those without an account should be allowed for exchange on providing valid proof of address, pan, etc. Would have gone a long way to promote banking too.
CORRECTIVE: Immediately stop of exchange over the counter but took more than two weeks to implement, why?
3. Declaration of Unaccounted Deposits In Old Notes To Attract 50% Tax, 4 Years Lock-In. What does that achieve except 50% of Blood Money is now valid white money to be reinvested in terror, drugs, trafficking, etc. Majority of Black money is not untaxed money but blood money from criminal activities like drugs, prostitution & trafficking, smuggling, etc.
CORRECTIVE: Enforce a maximum limit based on profession/business and previous years declared income. Keeping in view how many relatives or employee account is associated with the account in question and their viable possible account balance. Will it be implemented?
If BJP fails to win election it won't be because of demonetization which every Indian supported, but because of the subsequent defanging of the move! more
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Allowing farmers to buy seeds from government seed shops using old notes but how many government shops are there in villages. More than 50% farmers buy from private seed shops and few keep their own seeds. Hardly 30/35% may be buying from the government shops. The quality of seed from the government shops are also not of good quality. Our government these days is running just like traders shop. If this method is faulty change it and if the second one is not successful change it again. The government is not run like this it should be run on professional manner as there is no dearth of qualified and experienced people but they should be allowed to their work freely and systematically and not like traders shop. It should be implemented in planned manner taking into account all section of people and their problems. The method of implementation was a total failure. The scheme was good. It should have been planned with zero defect and instructions given at one time. GOD BLESS INDIA THE SO CALLED BHARAT. more
Nov 27
Why not disband the police and courts too, it would be a free jungle for all? Civilization is dead!!! Previously 100% of black money value moved into the economy. Now 50% is reduced from Government coffers which may be used to fund terror, drugs, trafficking, etc. In effect we legalized all the Criminal earning, thereby boosting and aiding Corruption instead of curbing it. more
Nov 27
Implementation was a total failure of the governments plan to effectively introduce the demonetisation of the 500 n 1000 rupee notes. Its implementation was done without putting any brain into it. The bureaucracy n politicians all failed in this process but no body is owning any responsibility in India. It is such big country that the rulers think that people are fool,of first water n make them fool. Who suffered is the honest poor n middle class. GOD BLESS INDIA THE SO CALLED BHARAT. it is the failure of the government n the bureaucracy they are governing the country on day to day basis. No proper planning n no long term implementation programme without pains to the public. You can say anything while sitting the air conditioned offices or in public meetings the pain is felt by those who stood in lines for hours for their own money and to feed their family. May GOD give them some sense not to repeat suck blunders in future. more
Nov 27
There will be mistakes in a mammoth project but why start demonetization if you end up making Blood money into white money? Looks more like a scheme to convert Black money to white. Hope BJP can explain this to the masses who bore all the hardships just to end corruption. Opposition will tear the government to shreds and the image will be tainted beyond redemption. It would have been 1000 times better to sink now with full faith of masses if it so happens and at least the peoples moral support will ensure BJP recovers. Don't know who advises Modiji, ask him to hire me instead - you don't need a PG degree in Law, Economics or Political science to understand this, anyway I have much more. more
Nov 27
Seriousness increasing due to Fake Currency , Huge number of Notes to reduce , presently opting 2000 is the fast remedy while the government had the plan of real continuance of requisite denomination comes in course to replace this 2000 too . The Currency Bundle Stolen from Goods Wagon in Tamilnadu in the 3rd/4th week of October holing with gas cutter , might have made the secret information share to many and finally the VIGILANCE Force found proofs and reported to the P.M. who forthwith , even before time they planned , had to announce demonetization on 8th itself . This , becomes true if we think vigilantly the issue of Looted Currency Bundle please . more
Nov 27
