Modi takes out ₹500 and ₹1000 rupee notes from circulation tonight!

[Mp812]

goes without saying. These guys as it is have billions of black money in swiss banks. They wont be affected

 

[big_gamer007]

In Pakistan I think the big fish will already have found ways around it and used loopholes or downright bribery whereas the poorer folk with little knowledge of how some things work may end up getting swindled.

Yes the biggest of the elites might get away but what about the middle sized business man's and local politicians/ religious maulvis etc who get black money would be affected right? So it would have some good affect on your economy and country so wouldn't you support such a move?

We do not live in a perfect world but atleast some of the wrong doers can get screwed isn't that the best thing we can hope for rather than not doing anything?

 

[big_gamer007]

goes without saying. These guys as it is have billions of black money in swiss banks. They wont be affected

I really hope that is the next step..

Step 1: Push for everyone even the poorest to open accounts.
Step 2: Push for everyone to declare black money and pay taxes on it and government recovered around 1.3lakh crores of un accounted black money.
Step 3: Ban 500 and 1000 notes now whoever did not declare black money would be screwed. Fake currency would be screwed too.
Step 4: Bring back the black money stashed abroad, if that happens then we would have enough money to fast forward our push to becoming a super power by atleast 10-15 years.

 

[Tera Gawaandi]

In Pakistan I think the big fish will already have found ways around it and used loopholes or downright bribery whereas the poorer folk with little knowledge of how some things work may end up getting swindled.

Same is true for India as well, point is that India will at-least start from clean slate. Income tax department cannot go after every offender, and there will be millions after new revelations. They will pay minimum 30% tax and move on, there is no point punishing them and wasting resources.

2/3rd of India's GDP is on cash.

This will dent Hawala transactions.

 

[street cricketer]

While the intentions of the move can't be doubted, doesn't the re introduction of 500 and new 2000rs notes sort of weakens the objective? I mean, how long will it take to put the new currency into black money circulation..

Can someone well versed explain me more..

 

[Thivagar]

Upsets my plans. Especially when I needed extra money for my marriage. Someone told me that I can show money as gift during marriage and it won't be taxed, not sure how true it is.

Get a "Marriage Certificate" and you can right it of as a gift.

 

[Thivagar]

While the intentions of the move can't be doubted, doesn't the re introduction of 500 and new 2000rs notes sort of weakens the objective? I mean, how long will it take to put the new currency into black money circulation..

Can someone well versed explain me more..

Did you watch Vijay Anthony's Pichaikaaran ? One of the homeless guy calls a TV show and requests governments to do this to eliminate Black money. #ModiwatchesTamilmovies.

 

[street cricketer]

Did you watch Vijay Anthony's Pichaikaaran ? One of the homeless guy calls a TV show and requests governments to do this to eliminate Black money. #ModiwatchesTamilmovies.

Lmao one tamil news channel was actually broadcasting that scene on tv after Modi's plan got revealed.

 

[Hornbill]

Did you watch Vijay Anthony's Pichaikaaran ? One of the homeless guy calls a TV show and requests governments to do this to eliminate Black money. #ModiwatchesTamilmovies.

I think that particular scene is available on his official youtube account

 

[Pakistanian]

They can exchange their notes or deposit till Dec 31st without any limit if its legitimate. For the same value.
Incase you are going to deposit 1 crore ,2 crore then neither u r poor or lower.

Also Most lower income Indians were pushed to open bank account for last 2 years by GOI.

So they only have a month and a half?! Tough luck for the poor. 3 months notice would've been more appropriate.

 

[Hornbill]

So they only have a month and a half?! Tough luck for the poor. 3 months notice would've been more appropriate.

You can easily open a bank account in India for free and deposit money within ten minutes so it's not a big issue for the poor.

 

[kaayal]

If the black money is stored in the form of gold (which most people do), govt can do nothing to expose it.

 

[Pakistanian]

What if somebody had already converted all the black money into foreign currency?

 

[Varun]

What if somebody had already converted all the black money into foreign currency?

The announcement was so sharp and with such a limited timeline (it's already past midnight here in India) that those who didn't now cannot.

 

[JaDed]

So they only have a month and a half?! Tough luck for the poor. 3 months notice would've been more appropriate.

Huh how?If they are poor how much money do they have that they need 3 months for converting?

 

[JaDed]

Lot of idealistic posters here,this is only one step it creates a hurdle ,black money in cash is involved in terrorism,elections and evading tax by local businessmen.

True the big industrialists will still find ways out from this but this hits local tax evaders and MIGHT have a massive impact at economic level.

Would had been better had 500 and above denominations discontinued permanently.

 

[from_da_lost_dim3nsion]

That's why our crooks deal in Dollars. Rupee is for the small fish .

 

[TheFlashPoint]

http://timesofindia.indiatimes.com/...ely-PM-Narendra-Modi/articleshow/55315473.cms

Best decision by GOI since independence.

All notes with a denomination of more than ₹100 were demonetized in 1977 also. It was carried out by Morarji Desai.

 

[Waseem]

It's actually quite an interesting move and i am sure it will make a poitive impact eventually so great job by Indian government.

I think businesses & real estate will also get huge boost as people will line up to purchase items that can retain it's value. People may buy cars, houses, gold, foriegn currency etc but it will still make poitive impact towards Indian economy.

 

[JattMaula]

Modi has won me over!

Finishing shadow election economy in one stroke, at least for some time.

Oh... Happy day.. I am imaging some panicked people...)

 

[Ankit007]

Others say, Modi does...

 

[Navdeep Srivastava]

He has to be one of the most brave pm we ever got. I think he scheduled it. First zero balance account opening drive, then converting black into white after 40%deduction, and now this. Looks like it was all planned.

 

[Romali_rotti]

This move will destroy a lot of frauds in my home state Kerala. Brilliant Brilliant MOVE, Kerala the land of the frauds will feel the HEAT NOW!!!!!!!!!!! Modichayan Zindabad ...

 

[adit_sh]

This move will destroy a lot of frauds in my home state Kerala. Brilliant Brilliant MOVE, Kerala the land of the frauds will feel the HEAT NOW!!!!!!!!!!! Modichayan Zindabad ...

Kerala Finance minister is very angry with the move

 

[Romali_rotti]

Kerala Finance minister is very angry with the move

Modi really has a plan and a vision, he is an amazing leader.. After being looted and robbed by Sonia Ammayi and her Gandhi Clan for so many years, India finally has hit the jackpot...

 

[jeetu]

Today's sale might even cross Diwali. Pretty much every vehicle is heading towards Petrol Pump.

 

[Cpt. Rishwat]

It's actually quite an interesting move and i am sure it will make a poitive impact eventually so great job by Indian government.

I think businesses & real estate will also get huge boost as people will line up to purchase items that can retain it's value. People may buy cars, houses, gold, foriegn currency etc but it will still make poitive impact towards Indian economy.

Now the question that needs to be asked of PMN-L diehards like Mamoon is if it is so easy to pull the rug under corruption in a country like India, how come Nawaz Sharif has never done anything similar in Pakistan? He still could of course....

 

[Hornbill]

This move will destroy a lot of frauds in my home state Kerala. Brilliant Brilliant MOVE, Kerala the land of the frauds will feel the HEAT NOW!!!!!!!!!!! Modichayan Zindabad ...

Yes there is no shortages of frauds in kerala but look at what desperate frauds in modi's own state are doing.

Scramble for gold in Gujarat after demonetisation

The government's sudden and unexpected move to demonetise currency notes of high denomination of Rs 1,000 and Rs 500 prompted many people in the State to convert their unaccounted for cash into gold by buying jewellery and gold bars with 20 to 30 per cent premium.

"People frantically bought gold barsand jewellery till late midnight. For jewellers, it turned out to be a goldmine for us," a prominent jeweller in Ahmedabad told The Hindu.

Long queues were witnessed outside jewellery showrooms in Ahmedabad, Surat, Vadodara and Rajkot to purchase yellow metal and dispose of cash which is often unaccounted for.

''People did not mind paying premium to buy whatever they could as they were scared and did not know what to do with cash on hands," he added.

Another jeweller said average purchase per person was more thanRs one lakh. "Most of transactions were made back dated.

"Some people even paid Rs. 35,000 for 10 g gold coin against the price of about Rs. 30,000.

http://www.thehindu.com/news/nation...monetisation/article9323127.ece?homepage=true

 

[Donal Cozzie]

Absolute masterstroke this.

Doing this overnight is the correct way to go about it.

Can someone explain to me what exactly has happened and why this is such a genius move.

Genuinely curious

 

[pillionrider]

This move will destroy a lot of frauds in my home state Kerala. Brilliant Brilliant MOVE, Kerala the land of the frauds will feel the HEAT NOW!!!!!!!!!!! Modichayan Zindabad ...

Now that the weather is looking good here, maybe time for you to move back home )

 

[Waseem]

Now the question that needs to be asked of PMN-L diehards like Mamoon is if it is so easy to pull the rug under corruption in a country like India, how come Nawaz Sharif has never done anything similar in Pakistan? He still could of course....

I had same question, these are steps taken by even 3rd world countries so we are not even asking about western nations. A corrupt and businessman will never take such steps because they look after themselves/family/friends etc and never implement such reforms. Mamoon and his friends argue so much about PTI leaders like Tareen but when PTI's Asad Umar intoruced a bill on tax reforms (starting with parliamentarians) he wasn't even given a chance to speak about it.

 

[Cpt. Rishwat]

I had same question, these are steps taken by even 3rd world countries so we are not even asking about western nations. A corrupt and businessman will never take such steps because they look after themselves/family/friends etc and never implement such reforms. Mamoon and his friends argue so much about PTI leaders like Tareen but when PTI's Asad Umar intoruced a bill on tax reforms (starting with parliamentarians) he wasn't even given a chance to speak about it.

Even more surprising as Mamoon is one of PP's biggest foremost admirers of India in general, you would think he would be so keen to follow in their footsteps on a policy which is supposedly an answer to Pakistan's biggest problem, that being corruption. Always such a vocal critic of "Kaptaan" but not even a peep so far about why Nawaz' PML-N haven't considered a similar move to Modi's Hindu natiionalist movement.

 

[Mamoon]

Now the question that needs to be asked of PMN-L diehards like Mamoon is if it is so easy to pull the rug under corruption in a country like India, how come Nawaz Sharif has never done anything similar in Pakistan? He still could of course....

Don't know how many times I have to insist that I'm not a PML-N diehard.

Apparently, anti-PTI ≠ pro-PMLN is difficult to understand for most people.

I have criticized Nawaz for his brown-nosing the Saudis enough, and I have also acknowledged his corruption, and only recently I called him a 'fool' for always finding a way to rub the Military establishment the wrong way.

The reason why I appear to be less critical of Nawaz is because they are hardly any pro-PMLN folks here and almost everyone unanimously agrees that Nawaz is a dud, so pointing out his failings is redundant, and it's better to direct my energies to the so-called savior who fights for the democratic rights of the people by taking undemocratic people under his wing and threatening democracy, who disbelieves in the constitution and the legal system but is too afraid to denounce it, since his masters will not like it.

As far as Modi is concerned, he's a mass murderer and a religious nutter - Hindu Taliban in other words, but unlike Nawaz, he had to work his way to the top and is a self-made individual, which means he's no ordinary personality.

From selling tea to leading a country as big and complex as India is not everyone's cup of tea. He is a great leader for the people he serves and he is street smart. Same qualities apply to Imran but unfortunately time and time again, he has proved that he's a novice politician.

 

[Cpt. Rishwat]

Don't know how many times I have to insist that I'm not a PML-N diehard.

Apparently, anti-PTI ≠ pro-PMLN is difficult to understand for most people.

I have criticized Nawaz for his brown-nosing the Saudis enough, and I have also acknowledged his corruption, and only recently I called him a 'fool' for always finding a way to rub the Military establishment the wrong way.

The reason why I appear to be less critical of Nawaz is because they are hardly any pro-PMLN folks here and almost everyone unanimously agrees that Nawaz is a dud, so pointing out his failings is redundant, and it's better to direct my energies to the so-called savior who fights for the democratic rights of the people by taking undemocratic people under his wing and threatening democracy, who disbelieves in the constitution and the legal system but is too afraid to denounce it, since his masters will not like it.

As far as Modi is concerned, he's a mass murderer and a religious nutter - Hindu Taliban in other words, but unlike Nawaz, he had to work his way to the top and is a self-made individual, which means he's no ordinary personality.

From selling tea to leading a country as big and complex as India is not everyone's cup of tea. He is a great leader for the people he serves and he is street smart. Same qualities apply to Imran but unfortunately time and time again, he has proved that he's a novice politician.

I was planning to start a thread on whether Pakistan could follow a similar path as "religious nutter" Modi as a means to end corruption, but seeing as you are no longer tied to PML-N, why don't you do the honours and open one instead? You have seen how this measure has brought unconstrained joy to our Indian members despite all claiming to be secular (apart from CricketCartoons). Now here's your chance to show that you too can back a move that would wipe out corruption, surely a good thing for Pakistan, whether carried out by Nawaz, baby Bhutto or "Kaptaan"?

Open the thread and let's discuss which party is likely to deliver.

 

[Varun]

Can someone explain to me what exactly has happened and why this is such a genius move.

Genuinely curious

So out here in the sub-continent, there is a lot of black money in use - particularly in the real estate and jewellery industries. If I were to buy a house same time yesterday, I would pay 60 lakh rupees as the stated value of the property, and a further 20 lakh to the builder under the table in black - which I can put together using 500 and 1000 rupee notes. The builders obviously get oodles of such currency and needn't pay tax on it. Worse, other nefarious elements of society use the money to fund terrorism and the like.

Overnight, their means to a daily, corrupt end has gone kapoot. Last night was most certainly a sleepless night for them, and most of middle-class India is happier for it!

From selling tea to leading a country as big and complex as India is not everyone's cup of tea. He is a great leader for the people he serves and he is street smart. Same qualities apply to Imran but unfortunately time and time again, he has proved that he's a novice politician.

Imran doesn't come off as streetsmart in the slightest. Seems like a bumbling idiot at every turn and corner, very similar to Kejriwal out here.

 

[Mamoon]

So out here in the sub-continent, there is a lot of black money in use - particularly in the real estate and jewellery industries. If I were to buy a house same time yesterday, I would pay 60 lakh rupees as the stated value of the property, and a further 20 lakh to the builder under the table in black - which I can put together using 500 and 1000 rupee notes. The builders obviously get oodles of such currency and needn't pay tax on it. Worse, other nefarious elements of society use the money to fund terrorism and the like.

Overnight, their means to a daily, corrupt end has gone kapoot. Last night was most certainly a sleepless night for them, and most of middle-class India is happier for it!



Imran doesn't come off as streetsmart in the slightest. Seems like a bumbling idiot at every turn and corner, very similar to Kejriwal out here.

Yes he isn't, but he is passionate and I would say a good leader because a lot of people blindly believe in him and it takes good leadership skills to pull something like that off.

 

[Varun]

Yes he isn't, but he is passionate and I would say a good leader because a lot of people blindly believe in him and it takes good leadership skills to pull something like that off.

I do admit he was captain of the 1992 World Cup team...

Scratch that and there's probably no other substance (correct me if I'm wrong).

 

[Mamoon]

I was planning to start a thread on whether Pakistan could follow a similar path as "religious nutter" Modi as a means to end corruption, but seeing as you are no longer tied to PML-N, why don't you do the honours and open one instead? You have seen how this measure has brought unconstrained joy to our Indian members despite all claiming to be secular (apart from CricketCartoons). Now here's your chance to show that you too can back a move that would wipe out corruption, surely a good thing for Pakistan, whether carried out by Nawaz, baby Bhutto or "Kaptaan"?

Open the thread and let's discuss which party is likely to deliver.

The dynamics of Pakistan politics are different. Someone like Modi cannot thrive in our system, the closest thing we have had is Kaptaan who has, as I said, proven himself to be a novice politician time and time again.

Neither is our politics institution-based like the U.S. where someone like Trump can come into power, and Kaptaan is a watered down, saner version of Trump in a lot of ways. We also need to consider the differences between Hindu nationalism/extremism and Islamic nationalism/extremism. If a Mullah rises into power (God forbid the potential TUQ revolution), Pakistan would go back to the Middle Ages and would become another version of KSA.

Modi is anti-Muslim but he is not going to halt the progression of India as a state with his ideologies, which will not be a case if our very own religious nutter comes into power.

In my opinion, Pakistan's long-term betterment lies in leaving democracy untouched. The new found democracy since 2008 needs to be allowed to prosper, which is the only way if we are to move forward.

These political dynasties of Sharifs and Bhuttos will not last forever, neither will the opportunists and turncoats pretending to bring change under the pseudo-PTI revolution banner, democracy will sort itself in the long run provided that we allow it to prosper, which means no intervention of the military establishment and compliance with the constitution and the legal system.

 

[Mamoon]

I do admit he was captain of the 1992 World Cup team...

Scratch that and there's probably no other substance (correct me if I'm wrong).

A great philanthropist too, but these thing don't make you a great politician.

 

[Cpt. Rishwat]

The dynamics of Pakistan politics are different. Someone like Modi cannot thrive in our system, the closest thing we have had is Kaptaan who has, as I said, proven himself to be a novice politician time and time again.

Neither is our politics institution-based like the U.S. where someone like Trump can come into power, and Kaptaan is a watered down, saner version of Trump in a lot of ways. We also need to consider the differences between Hindu nationalism/extremism and Islamic nationalism/extremism. If a Mullah rises into power (God forbid the potential TUQ revolution), Pakistan would go back to the Middle Ages and would become another version of KSA.

Modi is anti-Muslim but he is not going to halt the progression of India as a state with his ideologies, which will not be a case if our very own religious nutter comes into power.

In my opinion, Pakistan's long-term betterment lies in leaving democracy untouched. The new found democracy since 2008 needs to be allowed to prosper, which is the only way if we are to move forward.

These political dynasties of Sharifs and Bhuttos will not last forever, neither will the opportunists and turncoats pretending to bring change under the pseudo-PTI revolution banner, democracy will sort itself in the long run provided that we allow it to prosper, which means no intervention of the military establishment and compliance with the constitution and the legal system.

I think you are missing the point, the steps taken by Modi - an ardent and dangerous Hindutva despite you're attempts to water it down - can just as easily be taken by any Pakistani PM regardless of his religious or political affiliation. Yes Pakistan has a house that is in general disrepair if you agree with the Pakistani press, but if you have a leaking tap you can fix that without waiting until you have enough money to fix the whole house.

Why wait until Pakistan has gone through another 50 years of democracy if you can counter corruption today using Modi ji's ingenious method (implemented overnight and not over a slow and ridiculously long process as you advocate).

 

[ask_analyse_act]

people with lakhs of money will get caught and have to become poor overnight and re-earn them who must saved the money for their children's education, study abroad, marriage etc... people who are super rich with lakhs of crores hidden in the form of company's, firms, will be free..

Mallya still in UK cant get him back to pay his bills LOL...

with this revolutionary move the GOI may get few hundred crores of black money recovered from the common and normal middle class who saved their small small earnings for decades. On the contrary, the big leeches like ambani, mittals, birlas, bollywood stars and last but not last the politicians whose lakhs of crores will be brush under the carpet...

yes this is a brilliant move but the big leeches still get a away with it... where was the money from swiss bank accounts of big politicians as they said on the election campaign and deposit 15 lakhs on every indians account . poor indians will become more poor again...

 

[Varun]

people with lakhs of money will get caught and have to become poor overnight and re-earn them who must saved the money for their children's education, study abroad, marriage etc...

They had it coming if it was all cash stashed under their pillow.

 

[Bhaag Viru Bhaag]

Another bad news for black money lovers. Deposits above Rs 2.5 lakh under 50 days to face tax, 200% penalty on mismatch.

 

[ask_analyse_act]

They had it coming if it was all cash stashed under their pillow.

here see when u itself want to brush the billionaires under the carpet and replying one part of the message...those were hard earned money they saved it for their children and GOI though having chunks of amount now coming back at these poor people again leaving the big guns untouched...

 

[ask_analyse_act]

Another bad news for black money lovers. Deposits above Rs 2.5 lakh under 50 days to face tax, 200% penalty on mismatch.

2.5 lakhs a very small amount.... i heared modi's kurta suit was 3 lakhs... normally 2.5 lakhs nearly 80% of the people would have because the private professional institutions like engineering and medical charge 1 to 10 lakhs as fees for the student per semester i believe even thought the government engineering universities also charge 40-50k i think... and one maruti swift is more than 2.5 lakhs... A complete chaos and fear mongering was being created by these bully BJPs among the poor civilians...

 

[JaDed]

2.5 lakhs a very small amount.... i heared modi's kurta suit was 3 lakhs... normally 2.5 lakhs nearly 80% of the people would have because the private professional institutions like engineering and medical charge 1 to 10 lakhs as fees for the student per semester i believe even thought the government engineering universities also charge 40-50k i think... and one maruti swift is more than 2.5 lakhs... A complete chaos and fear mongering was being created by these bully BJPs among the poor civilians...

Fees is paid as DD or online not in cash who pays fees above 1 lakh in cash?I passed out in 2010 and even then I didn't pay fees in cash.

The chaos will hit mostly families with huge black money and INCONVENIENCE the average civilian.

 

[Mamoon]

I think you are missing the point, the steps taken by Modi - an ardent and dangerous Hindutva despite you're attempts to water it down - can just as easily be taken by any Pakistani PM regardless of his religious or political affiliation. Yes Pakistan has a house that is in general disrepair if you agree with the Pakistani press, but if you have a leaking tap you can fix that without waiting until you have enough money to fix the whole house.

Why wait until Pakistan has gone through another 50 years of democracy if you can counter corruption today using Modi ji's ingenious method (implemented overnight and not over a slow and ridiculously long process as you advocate).

I'm not watering down. I've called him a mass murderer and a Hindu Taliban, how is this 'watering it down'? As I said, the dynamics of Pakistani politics are different. We cannot have a flamboyant PM like him as things stand.

Will a Modi like figure be good for Pakistan? possibly, but as I said, if we want our own version of religious extremist in power, we cannot hope for progression on any front. Modi for all his bigotry is not holding India back in terms of technological advancements, which will happen with a Muslim extremist in power because these things are supposedly haraam in Islam.

 

[JaDed]

I was planning to start a thread on whether Pakistan could follow a similar path as "religious nutter" Modi as a means to end corruption, but seeing as you are no longer tied to PML-N, why don't you do the honours and open one instead? You have seen how this measure has brought unconstrained joy to our Indian members despite all claiming to be secular (apart from CricketCartoons). Now here's your chance to show that you too can back a move that would wipe out corruption, surely a good thing for Pakistan, whether carried out by Nawaz, baby Bhutto or "Kaptaan"?

Open the thread and let's discuss which party is likely to deliver.

This doesn't end corruption in anyway,It at the best reduces it the average policewala or sarkari office will still get his 100-300 and that cycle continues only thing would be that all the corrupt cash that they had stashed has become useless unless they had converted all into gold or real estate but cash is pretty much useless now.

This helps a lot in reducing corruption or bribes during election,the free alcohol or "favors".

 

[Cpt. Rishwat]

I'm not watering down. I've called him a mass murderer and a Hindu Taliban, how is this 'watering it down'? As I said, the dynamics of Pakistani politics are different. We cannot have a flamboyant PM like him as things stand.

Will a Modi like figure be good for Pakistan? possibly, but as I said, if we want our own version of religious extremist in power, we cannot hope for progression on any front. Modi for all his bigotry is not holding India back in terms of technological advancements, which will happen with a Muslim extremist in power because these things are supposedly haraam in Islam.

Again missing the point. I didn't say you needed a Muslim extremist in power to duplicate Modi's policies regardless of whether they are halaaaal or haraaaaam.

Nawaz or baby Bhutto aren't extremists or particularly religious. Why do you think they have never considered such a policy, and what is preventing them from doing so?

 

[oneindia]

people with lakhs of money will get caught and have to become poor overnight and re-earn them who must saved the money for their children's education, study abroad, marriage etc... people who are super rich with lakhs of crores hidden in the form of company's, firms, will be free..

Mallya still in UK cant get him back to pay his bills LOL...

with this revolutionary move the GOI may get few hundred crores of black money recovered from the common and normal middle class who saved their small small earnings for decades. On the contrary, the big leeches like ambani, mittals, birlas, bollywood stars and last but not last the politicians whose lakhs of crores will be brush under the carpet...

yes this is a brilliant move but the big leeches still get a away with it... where was the money from swiss bank accounts of big politicians as they said on the election campaign and deposit 15 lakhs on every indians account . poor indians will become more poor again...

You have to start from somewhere, Obviously you dont know nothing about India,there are plenty of Businessmen in my city ( Surat - which is no where close to metro city), whave few hundred croes stashed, It will unearth not in thousands but lakh of crore. That bad is Indian black money economy is. Recenlt in our city a constable was arrested, 1100 crors of cash was found from his house ( i am sure there are other players would have been invovled).

A single medical seat is sold for 60 lakhs, and if you go for MD or master degree it goes for a crore or 2 crore,All payment is in cash and blackmoney.Imagine one college trusty would have hundreds of crore at a time.

Money that went out of India, would be difficult to bring back but atleast now Modi has put a break and made it difficult for more money to go out of India. You can hate every move of Modi for obvious reason but in India people are dancing with joy!!

 

[oneindia]

here see when u itself want to brush the billionaires under the carpet and replying one part of the message...those were hard earned money they saved it for their children and GOI though having chunks of amount now coming back at these poor people again leaving the big guns untouched...

I can see pain in your post, you are trying hard to condemn this move while you know inside very well it is a master stroke from MODI

 

[Tera Gawaandi]

2.5 lakhs a very small amount.... i heared modi's kurta suit was 3 lakhs... normally 2.5 lakhs nearly 80% of the people would have because the private professional institutions like engineering and medical charge 1 to 10 lakhs as fees for the student per semester i believe even thought the government engineering universities also charge 40-50k i think... and one maruti swift is more than 2.5 lakhs... A complete chaos and fear mongering was being created by these bully BJPs among the poor civilians...

Insane, top end of India's cheapest car Tata Nano is 3.21L ex showroom in Bangalore, not even on-road price. Swift is 3.5 to 5L more costly depending on variant than Nano, 8.5L on-road for top variant Swift in Bangalore.

 

[AamchiMumbaikar]

2000 rupee notes are issued today. New color and dimension notes will be issued soon for all denominations.

It's like all black money so far accumulated by people is nullified and they have to start fresh.

 

[ask_analyse_act]

I can see pain in your post, you are trying hard to condemn this move while you know inside very well it is a master stroke from MODI

not pain. and why should I? It is the reality that the big guns will still escape and be untouched whatsoever.

 

[jeetu]

Apparently new 1000 rs will be issued in few months.

 

[Mamoon]

Again missing the point. I didn't say you needed a Muslim extremist in power to duplicate Modi's policies regardless of whether they are halaaaal or haraaaaam.

Nawaz or baby Bhutto aren't extremists or particularly religious. Why do you think they have never considered such a policy, and what is preventing them from doing so?

No, I'm not missing any point. In fact, you haven't made any point that hasn't been addressed yet.

As I explained before and I will bother to explain again, Nawaz and Bhutto are part of the establishment who have skeletons in their closet. If there is a crackdown on corruption, the first person who will bear the brunt will be Bilawal's father who is the most corrupt man in the country.

As far as Nawaz is concerned, what do you expect from him to do for corruption when he is busy trying to save his own backside from the SC.

That leaves Imran, who is personally not financially corrupt, but has left no stone unturned to ensure that he sweeps the charges against his friends under the carpet.

If Imran was a) not a novice politician and b) would not end up contradicting himself in his quest to defeat Nawaz, he could very well have been a Modi type figure for Pakistan without the baggage of being a mass murderer or a religious nutter.

Unfortunately, he lacks these qualities and is thus not the answer either. As I said, the only hope for Pakistan is to persist with democracy because in the long run, it will sort itself out. It will take time but it will happen eventually.

 

[ask_analyse_act]

Fees is paid as DD or online not in cash who pays fees above 1 lakh in cash?I passed out in 2010 and even then I didn't pay fees in cash.

The chaos will hit mostly families with huge black money and INCONVENIENCE the average civilian.

well u should read the post #130 here in this thread posted by ur indian friend [MENTION=142322]oneindia[/MENTION].. That much amount they cant do it via bank. i think even for billionaires just because the banks have limits on money transfer per day and per week... And dont forget ur lucrative IPLs , ISLs and the pro Kabbadi leagues all these will get brushed under the carpet...

 

[ask_analyse_act]

You have to start from somewhere, Obviously you dont know nothing about India,

there are plenty of Businessmen in my city ( Surat - which is no where close to metro city), whave few hundred croes stashed, It will unearth not in thousands but lakh of crore. That bad is Indian black money economy is. Recenlt in our city a constable was arrested, 1100 crors of cash was found from his house ( i am sure there are other players would have been invovled).

A single medical seat is sold for 60 lakhs, and if you go for MD or master degree it goes for a crore or 2 crore,All payment is in cash and blackmoney.Imagine one college trusty would have hundreds of crore at a time.

Money that went out of India, would be difficult to bring back but atleast now Modi has put a break and made it difficult for more money to go out of India. You can hate every move of Modi for obvious reason but in India people are dancing with joy!!

Why not start from the people that you, me and the whole world know has chunks of money laundered... If the big guns are caught and screwed that will set the parameter for the rest... GOI is scared to touch the big guns money just because they need them to sponsor for the next election is as simple as that... keeping them happy always is the mantra... now more money scratch from local civilians hard earned money will go back to their big gun chamchas...As i said this move will bring back 100 or 1000 or 10,000 crores of black money but billion crores will be gone untouched and unwatched which is the reality...Moreover with this news all other news that has been hot and talk of the town for weeks and months before is forgotten suddenly as everybody is running after the money...Can we have the balance sheet of modi's trip to all countries and how much has been spent and how much has he brought back, all are taxed money... also he gives 1000 crores or 2000 crores to the province governments for improving their province did u ever asked for the balance sheet of those... First question them where is your taxed money gone then talk about this..

 

[ask_analyse_act]

Insane, top end of India's cheapest car Tata Nano is 3.21L ex showroom in Bangalore, not even on-road price. Swift is 3.5 to 5L more costly depending on variant than Nano, 8.5L on-road for top variant Swift in Bangalore.

Thanks for the info. Bro im trying to say the people of India and Pak the amount they spend for their children to have good education and education abroad is 20 -25 lakhs or even more than that which im not sure.. how will they spend if they have only 2.5 lakhs... One small 2 star hotel makes that amount in 5 days, and big pub will make that amount in one week...it is just fear mongering that these BJP wants to make, they will pay for it soon... they even said his 3 lakh suit was a gift, so who gifted it and is he paying taxes all good..modi and BJP are just eyewashing the people and looking to cash in from their ignorance....

 

[oneindia]

Why not start from the people that you, me and the whole world know has chunks of money laundered... If the big guns are caught and screwed that will set the parameter for the rest... GOI is scared to touch the big guns money just because they need them to sponsor for the next election is as simple as that... keeping them happy always is the mantra... now more money scratch from local civilians hard earned money will go back to their big gun chamchas...As i said this move will bring back 100 or 1000 or 10,000 crores of black money but billion crores will be gone untouched and unwatched which is the reality...Moreover with this news all other news that has been hot and talk of the town for weeks and months before is forgotten suddenly as everybody is running after the money...Can we have the balance sheet of modi's trip to all countries and how much has been spent and how much has he brought back, all are taxed money... also he gives 1000 crores or 2000 crores to the province governments for improving their province did u ever asked for the balance sheet of those... First question them where is your taxed money gone then talk about this..

I am not gonna argue with you. You are on denial mode and will keep arguing. I understand your hatred for Modi and anything good about him will make it difficult for you sleep at night. You can live under whatever impression you have. Meanwhike let people of India ( not just Hindus) celebrate this historic event.

 

[big_gamer007]

Thanks for the info. Bro im trying to say the people of India and Pak the amount they spend for their children to have good education and education abroad is 20 -25 lakhs or even more than that which im not sure.. how will they spend if they have only 2.5 lakhs... One small 2 star hotel makes that amount in 5 days, and big pub will make that amount in one week...it is just fear mongering that these BJP wants to make, they will pay for it soon... they even said his 3 lakh suit was a gift, so who gifted it and is he paying taxes all good..modi and BJP are just eyewashing the people and looking to cash in from their ignorance....

What do you mean by have only 2.5Lakhs? Why will anyone has only 2.5Lakhs? Where did you get that number from? Is there a cap on amount of money you can put in your account which no one else knows about?

Education abroad is 25-50Lakh depending on college who the hell pays for that in Cash? You transfer money online and need to show liquid assets in your account for Visa purposes. If you do not have that much money in white you can try getting a loan. If you have black money then your kid does not deserve to go abroad for education rather stay in India and watch his father rot in jail.

 

[JaDed]

well u should read the post #130 here in this thread posted by ur indian friend [MENTION=142322]oneindia[/MENTION].. That much amount they cant do it via bank. i think even for billionaires just because the banks have limits on money transfer per day and per week... And dont forget ur lucrative IPLs , ISLs and the pro Kabbadi leagues all these will get brushed under the carpet...

That is donation plus already illegal in a way can be paid via cheque surely not cash.Not understanding what IPL,ISLs and Kabaddi leagues has to do with black money those all have to be accounted for.

Are you confusing topics?

 

[LongHorn]

As of now it looks like a good move, though small traders and small time corrupt people will be more affected ...

Now a topic that this move reminds one of is that of a cashless society.

There has been substantial hype over it, but at the end of a day is a society where every major (and minor) transaction is tracked and can be blocked by govt at will depending on who is doint it, a scenario that we should aspire to ?

 

[ask_analyse_act]

I am not gonna argue with you. You are on denial mode and will keep arguing. I understand your hatred for Modi and anything good about him will make it difficult for you sleep at night. You can live under whatever impression you have. Meanwhike let people of India ( not just Hindus) celebrate this historic event.

....You dont have to argue.. Im asking question based on reality and u trying to stop it by diverting and denying anything that questions ur beloved MODI... And telling me in denial mode what a joke,,,

 

[ask_analyse_act]

What do you mean by have only 2.5Lakhs? Why will anyone has only 2.5Lakhs? Where did you get that number from? Is there a cap on amount of money you can put in your account which no one else knows about?

Education abroad is 25-50Lakh depending on college who the hell pays for that in Cash? You transfer money online and need to show liquid assets in your account for Visa purposes. If you do not have that much money in white you can try getting a loan. If you have black money then your kid does not deserve to go abroad for education rather stay in India and watch his father rot in jail.

OK lets come to the loans now..

In the last four years public sector banks have discounted/discarded 2lakh crores and the GOI doesnt want to expose any details on this.

Also supreme court asks to expose the names of people who has taken nearly or more 500 crores as loan and still didnt pay though they can pay. the same GOI and RBI rejects it as a secret and exposing it will hinder the progress of those corporates, instead they will request them to pay in the future...

so now this GOI is planning to eradicate corruption and black money. the question is from where and who?

Poor civilians and their ignorance...

 

[Navdeep Srivastava]

That is donation plus already illegal in a way can be paid via cheque surely not cash.Not understanding what IPL,ISLs and Kabaddi leagues has to do with black money those all have to be accounted for.

Are you confusing topics?

He is hating for the sake of hating things are already started changing, today 2 sacs of Half burnt 500and 1000rs notes were found , total weight is over 20kg, either these notes were fake or illegal.

 

[ask_analyse_act]

That is donation plus already illegal in a way can be paid via cheque surely not cash.Not understanding what IPL,ISLs and Kabaddi leagues has to do with black money those all have to be accounted for.

Are you confusing topics?

no not confusing topics... ask you to think about the cash circulation and flow of cash there...

 

[JaDed]

no not confusing topics... ask you to think about the cash circulation and flow of cash there...

The flow of cash is never at such high level man,none of the college students pay fees in cash,its all legal.The cash will inconvenience the average Civilian for a while but not the legal transactions.

When this was announced all i had was 1200 in cash with me,all i have to exchange is 1000 rs note,whether its cab,phone recharge and any such thing can be done online.

For petrol,hospital,railway,airlines older cash notes can still be used.This hurts anyone with illegal cash alone and even they might be able to handle some of their cash.

 

[ask_analyse_act]

He is hating for the sake of hating things are already started changing, today 2 sacs of Half burnt 500and 1000rs notes were found , total weight is over 20kg, either these notes were fake or illegal.

I'm not hating things, trying to explain the reality behind this move what POI thinks one of the best move in the history of Indian independence... People like Raguram Rajan will know the answer... they are bringing out rs.500 and rs.1000 and introducing rs.2000 note to eradicate black money and say ppl hide money on higher denomination as a reason...

On hindsight, the Indian currency on forex is very poor and down. To keep it where it is now or keep the decrement to go further down 2000rs. note are published.. If people take this move in relation to International economy and currency exchange they will somehow get an idea on this.

People will bump this thread when things become messy or when they get a glimpse of how stupid this move is.

 

[ask_analyse_act]

The flow of cash is never at such high level man,none of the college students pay fees in cash,its all legal.The cash will inconvenience the average Civilian for a while but not the legal transactions.

When this was announced all i had was 1200 in cash with me,all i have to exchange is 1000 rs note,whether its cab,phone recharge and any such thing can be done online.

For petrol,hospital,railway,airlines older cash notes can still be used.This hurts anyone with illegal cash alone and even they might be able to handle some of their cash.

Put it on a large scale...You should also think about uneducated people who work and earn on daily wages though they contribute less in revenue to the country...No banks, no online transfers for them lol.. This move is brought up to hide big guns cashes and loan laundering, also to further stabilise (keep where it is now) the currency rate in forex as it is down and bring an economic slowdown...

 

[JaDed]

Put it on a large scale...You should also think about uneducated people who work and earn on daily wages though they contribute less in revenue to the country...No banks, no online transfers for them lol.. This move is brought up to hide big guns cashes and loan laundering, also to further stabilise (keep where it is now) the currency rate in forex as it is down and bring an economic slowdown...

In order to prevent leakages in the flagship rural job programme, all wage payments to MGNREGA workers will be made through Direct Benefit Transfer to bank accounts of the beneficiaries from April this year, Government on Tuesday said.

Addressing a MGNREGA Sammelan on the occasion of the programme completing ten years, Rural Development Minister Chaudhary Birender Singh said that from April 1, 2016 all wage payments to MGNREGA workers will be done through DBT.

Currently, 94% of the wage payments are directly deposited in the account of beneficiaries, Singh said.

http://www.dnaindia.com/money/repor...be-made-through-dbt-from-april-1-govt-2173158

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Mate this was long time coming for last 2 years there was a massive push for bank accounts and I agree this will effect the ones who give cash as wages to their employees but considering the impact this was much needed as now they will thrive for legal earning.

 

[JaDed]

I'm not hating things, trying to explain the reality behind this move what POI thinks one of the best move in the history of Indian independence... People like Raguram Rajan will know the answer... they are bringing out rs.500 and rs.1000 and introducing rs.2000 note to eradicate black money and say ppl hide money on higher denomination as a reason...

On hindsight, the Indian currency on forex is very poor and down. To keep it where it is now or keep the decrement to go further down 2000rs. note are published.. If people take this move in relation to International economy and currency exchange they will somehow get an idea on this.

People will bump this thread when things become messy or when they get a glimpse of how stupid this move is.

Its not the best move since the independence that is defn RTI and economic liberalization both Congress sponsored one.

This although is a very good and much needed move for various reasons.

 

[saeedhk]

What a great move! One of the defining moments in Indian history. Well done.

 

[speed]

I guess cashless economy could stop illegal immigration, if you can't open a bank account without the right documents than, there is no way for you to earn a living.

 

[ask_analyse_act]

Its not the best move since the independence that is defn RTI and economic liberalization both Congress sponsored one.

This although is a very good and much needed move for various reasons.

It is one of the rubbish moves and taken out of desperation or may be to keep people interested that the GOI is doing something to eradicate corruption and black money...

And many people believe this biggest joke as a great move, crazy is many well known non-taxpayers being public figures is echoing in their tweets as it is a great move lol...

 

[Cpt. Rishwat]

No, I'm not missing any point. In fact, you haven't made any point that hasn't been addressed yet.

As I explained before and I will bother to explain again, Nawaz and Bhutto are part of the establishment who have skeletons in their closet. If there is a crackdown on corruption, the first person who will bear the brunt will be Bilawal's father who is the most corrupt man in the country.

As far as Nawaz is concerned, what do you expect from him to do for corruption when he is busy trying to save his own backside from the SC.

That leaves Imran, who is personally not financially corrupt, but has left no stone unturned to ensure that he sweeps the charges against his friends under the carpet.

If Imran was a) not a novice politician and b) would not end up contradicting himself in his quest to defeat Nawaz, he could very well have been a Modi type figure for Pakistan without the baggage of being a mass murderer or a religious nutter.

Unfortunately, he lacks these qualities and is thus not the answer either. As I said, the only hope for Pakistan is to persist with democracy because in the long run, it will sort itself out. It will take time but it will happen eventually.

Alright let me simplify it still further. Do you at least agree that for this sort of move to be carried out in Pakistan, only the govt currently in power would have the means to do it? That govt would be (correct me if I'm wrong) PML-N, and the leader would be Nawaz Sharif.

I am not saying this is necessarily as straightforward as it seems in India, in fact we still have to see how this pans out over there, but the question should at least be raised would you agree? Maybe in a separate thread so we can leave this one to Parosis to bicker over.

 

[ask_analyse_act]

http://www.dnaindia.com/money/repor...be-made-through-dbt-from-april-1-govt-2173158

--------------------------------------------------------------------------------------------------------

Mate this was long time coming for last 2 years there was a massive push for bank accounts and I agree this will effect the ones who give cash as wages to their employees but considering the impact this was much needed as now they will thrive for legal earning.

No. it looks like a complete hogwash deceiving the public in the name of eradication of corruption and black money....

 

[ask_analyse_act]

Alright let me simplify it still further. Do you at least agree that for this sort of move to be carried out in Pakistan, only the govt currently in power would have the means to do it? That govt would be (correct me if I'm wrong) PML-N, and the leader would be Nawaz Sharif.

I am not saying this is necessarily as straightforward as it seems in India, in fact we still have to see how this pans out over there, but the question should at least be raised would you agree? Maybe in a separate thread so we can leave this one to Parosis to bicker over.

If you think that what Modi did was great... pls explain how it will eradicate corruption and black money..

Then can think about following it as a template.

 

[Cpt. Rishwat]

If you think that what Modi did was great... pls explain how it will eradicate corruption and black money..

Then can think about following it as a template.

I'm open minded on it as of now, that's why I added the qualifier "I am not saying this is necessarily as straightforward as it seems in India, in fact we still have to see how this pans out over there" as I'm not taking the Indian PP joy as gospel just yet.

 

[jusarrived]

I'm not hating things, trying to explain the reality behind this move what POI thinks one of the best move in the history of Indian independence... People like Raguram Rajan will know the answer... they are bringing out rs.500 and rs.1000 and introducing rs.2000 note to eradicate black money and say ppl hide money on higher denomination as a reason...

On hindsight, the Indian currency on forex is very poor and down. To keep it where it is now or keep the decrement to go further down 2000rs. note are published.. If people take this move in relation to International economy and currency exchange they will somehow get an idea on this.

People will bump this thread when things become messy or when they get a glimpse of how stupid this move is.

Do you know the RBI wanted to introduce 5k and 10K bills which was pushed back by the Govt ? RBI infact has a vaild reason . 2K notes are a natural progression to higher value bills .
The reason for reintroduction of 500 and 1000 notes is cos that makes up 86% of liquidity at the moment . Stress on the word re-introducing , cos there is no other choice .

Higher denomination of notes will keep rupee in check ? lol kill me some one