I was happy when i read your first reply, i was thinking that i am talking with a sensible person without a biased mind. But after reading your second reply and your replies to @berbatrick, specially seeing your efforts to whitewash BJP's and it's leaders wrongdoings, i had to change my views. I still think you are sensible, but biased. Please don't take it personally. I am hoping for a healthy dialogue here. Usually, when i express my opinion on an Indian forum, the first reply i use to get is that i am anti-national and if i post again, then i will get abused. It's not that i care about the responses, but it's not a healthy conversation, there is no point in that. So, i hope it's not the case here.
Let's take it this way, the government made a master plan with multiple objectives, mainly to get the advantage in the coming UP polls over the other political parties. Had this been implemented as per the BJP plans, UP polls result could have been declared already. But the implementation didn't go as per their plan. They never expected this kind of a trouble to implement their master plan.
UP is the biggest state in India and so it's a prestigious battle for Modi. If BJP could win the UP election, there are 2 huge visible benefits;
1) BJP will be ruling the biggest state in India which also will help them in the next Lok Sabha election as well.
2) BJP will take a huge step towards their dream of achieving majority in the Upper House, The Rajya Sabha, which is very important for them to implement their policies/agendas without any objections. And i am sure Modi will do anything to achieve that target.
We all know that money is a huge factor in deciding the election results, and over the years UP polls were a prime example of that. And most of the money used for the election purpose by ALL THE POLITICAL PARTIES were unaccounted. And BJP knew that if they could restrict the financial capabilities of their opponents, they are as good as won the UP election. So they made this master plan, which, had it been implemented as per their plan, will seriously restrict the financial powers of their opponents and also will help Modi and BJP to gain a huge, a very huge, public support. By banning the high denomination currencies without a notice, the government surprised their opponents and they are short of funds now. The BJP opponents are in a standstill now as they short of funds, but at the same time BJP, who were prepared for this situation, are continuing with their elections campaigns without any troubles. There are many reports as supportive evidences to this argument, i will post some of them here.
http://www.newindianexpress.com/the...rategise-after-demonetisation-1540489--1.html
http://www.firstpost.com/politics/r...-it-has-upset-upcoming-elections-3099214.html
So, if you use your senses, there are enough evidences to suspect that this move by Modi had nothing to do with national interest, but was planned to gain advantage over their opponents in the coming UP election and also as usual, to promote the Brand Modi.
Now you might ask me that isn't it a good thing to eradicate black money from political parties. Yes it is, 100% support it. But here the problem is that BJP was well prepared to face situation as they had made the necessary arrangements prior to the currency ban, and thus they are not facing any troubles or shortage of funds to conduct their huge rallies and election campaigns. Now one party is spending their "WHITE MONEY" and are already miles ahead with their election campaigns while their competitors are still in the dark and are in re-strategising mode.
As someone who traveled and lived in many remote areas of India, i can tell you that your assumption about the rural India, especially the remote areas, is totally incorrect. A lot of villages are still under the rule of Khap panchayats who work as quasi-judicial bodies. 80-90% of these villagers are illiterate who can't read or right their own local language, forget about Hindi and English. I would say that there are thousands of citizens in the very remote areas and mountains who are not even aware of this demonetisation move and more who know about it but are unable to exchange/deposit their money for many reasons. Adivasi's and similar casts are prime examples of this. As someone who knows about their literacy level and culture, i must tell you that no awareness programs could make them ready to use the electronic payment systems of any sorts.
This initiative by the government will cause adverse effects on the life's of 20-30% of Indians and i am not just talking about the troubles the nation is facing now. I would say that the hard earned money of 20% of Indians will have only the value of piece of papers by the coming January 1st. The good thing is that their life earnings are not as huge as Ambani or Adani's multi-billion crores or as huge as yours or mine millions or crores. The average of their life earnings will be at a maximum of thousands or a lakh. So, the loss of money won't be so high and won't affect the national economy in any way. And so there won't have any hues and cries about it. But the bad thing is that, those thousands are their life earnings, their hard earned money which has the smell of their blood. The government is taking that away from them and they are unaware or are unable to do anything about it. That's just as bad as cold blooded murder. The media won't tell you about the suicidal state of these citizens, as there are no profits for the media in doing so. And the lone voices which speaks for them will be immediately neutralized.
Read my initial statement again. I never said THE REASON, i said one of the reason and i stand by that. Even if Indian banking system had faced the same kind of trouble as the western banks had during the global recession period, the effect on Indian economy would not be as bad as it was on the western economy. And it's because of the fact that Indian economy is not fully dependent on the banking systems. Making Indian economy fully dependent on the banking system and thus to the external factors, the government is practically blowing up the pillars of Indian economy.
70% of payments in India are still made in cash and that's a huge number. You can't just put a full stop to that on a single day. And if you try to do so, the negative effect on the economy will be beyond imaginary which i am afraid that we are going to face it in the coming months. The agriculture, which is the base of Indian economy is already struggling and the small and medium sectors are badly hit. Even if the government had to take these measures, they should have done it step by step and in a better way.
The Greece financial collapse is a prime example of what excessive dependents on banking systems could do to your economy. But as it stands, in India, even if the banking system collapse, we would still manage to live as our economy, especially the retails and markets are not fully dependent on the banks.
There were multiple reports regarding this 6% valuation and some were based on the studies made by one or more institutions. I can't find the links now on my initial search and i don't have much time now. If needed, i will search in details and will post it later. Now for the sake of argument, let's say that the amount of black money in the form of currency in India is 15% and the government may be successful to destroy/seize around half of that, which is 8%. It's still nowhere near enough to justify the struggles caused to the common man. Government could have gone after the obvious methods of stocking the black money which are gold, real estate and foreign bank accounts/investments. This move wouldn't inconvenience 99% of the citizens and it wouldn't badly affect the entire economy as it is now. And by starting with the gold, real estate and foreign accounts, which will only affect the rich people who are also the holders of black money, the government could have send a good message to the nation and thus people would have been be more willing to scarifies for the good cause. By starting with the demonetisation of currency, the suffering was only limited to the common man and also people are asking question about the government intentions.
Again my comment clearly states that SOME OF THE SUPER RICH, means not ALL OF THE SUPER RICH. The more i read through your comments, the more i am starting to believe that you are just another blind bhakt. This is one of the strategy of the current government and their party, which is to play with the sentiments and thus fool the people. Yes, it will work and it is working in India. But i don't think it will work in an international forum. The people here are more open minded and are more reasonable. Those sentimental angle and crocodile tears will only result in getting trolled on these kind of forums.
My dear, every government has the full details of most of the black money holders. They just have to show the will power to go after them. If you have the proofs and the will to seize the unaccounted money, why should the government be afraid of the court and its decisions?? That's such a lame excuse.
Again not correct. 80% Indian wealth is with less than 15% of the people. So raiding some (i said some of them, please note) of them would have recovered much more than that of the wholesome effort. I am sure that the government and the IT department will have a clear idea about these 15% people and so it will be easy to focus on them than the entire nation 130 crore people.
And some of the people are of the impression that the total amount of money which is deposited in the bank accounts after the demonetisation are black money and the government also, through their speeches and statements, is trying to make that false impression. The amount of money deposited in the bank accounts has nothing to do with the success on the fight against black money. Only the amount which are proven to be black money, should be counted to that account.
The move should have implemented in the reverse manner. Government could have started by cleaning up the 80% of Indian wealth by going after just 15% of the population. 85% of the population don't need to suffer for the wrong doings of a minority group. (I am in no way suggesting that all the rich 15% are black money holders and the remaining 85% are saints). This will not affect the common man and the economy as it is affected now. Also it would have been much easier step for the government to start with.
Let's take it this way, the government made a master plan with multiple objectives, mainly to get the advantage in the coming UP polls over the other political parties. Had this been implemented as per the BJP plans, UP polls result could have been declared already. But the implementation didn't go as per their plan. They never expected this kind of a trouble to implement their master plan.
UP is the biggest state in India and so it's a prestigious battle for Modi. If BJP could win the UP election, there are 2 huge visible benefits;
1) BJP will be ruling the biggest state in India which also will help them in the next Lok Sabha election as well.
2) BJP will take a huge step towards their dream of achieving majority in the Upper House, The Rajya Sabha, which is very important for them to implement their policies/agendas without any objections. And i am sure Modi will do anything to achieve that target.
We all know that money is a huge factor in deciding the election results, and over the years UP polls were a prime example of that. And most of the money used for the election purpose by ALL THE POLITICAL PARTIES were unaccounted. And BJP knew that if they could restrict the financial capabilities of their opponents, they are as good as won the UP election. So they made this master plan, which, had it been implemented as per their plan, will seriously restrict the financial powers of their opponents and also will help Modi and BJP to gain a huge, a very huge, public support. By banning the high denomination currencies without a notice, the government surprised their opponents and they are short of funds now. The BJP opponents are in a standstill now as they short of funds, but at the same time BJP, who were prepared for this situation, are continuing with their elections campaigns without any troubles. There are many reports as supportive evidences to this argument, i will post some of them here.
http://www.newindianexpress.com/the...rategise-after-demonetisation-1540489--1.html
http://www.firstpost.com/politics/r...-it-has-upset-upcoming-elections-3099214.html
So, if you use your senses, there are enough evidences to suspect that this move by Modi had nothing to do with national interest, but was planned to gain advantage over their opponents in the coming UP election and also as usual, to promote the Brand Modi.
Now you might ask me that isn't it a good thing to eradicate black money from political parties. Yes it is, 100% support it. But here the problem is that BJP was well prepared to face situation as they had made the necessary arrangements prior to the currency ban, and thus they are not facing any troubles or shortage of funds to conduct their huge rallies and election campaigns. Now one party is spending their "WHITE MONEY" and are already miles ahead with their election campaigns while their competitors are still in the dark and are in re-strategising mode.
As someone who traveled and lived in many remote areas of India, i can tell you that your assumption about the rural India, especially the remote areas, is totally incorrect. A lot of villages are still under the rule of Khap panchayats who work as quasi-judicial bodies. 80-90% of these villagers are illiterate who can't read or right their own local language, forget about Hindi and English. I would say that there are thousands of citizens in the very remote areas and mountains who are not even aware of this demonetisation move and more who know about it but are unable to exchange/deposit their money for many reasons. Adivasi's and similar casts are prime examples of this. As someone who knows about their literacy level and culture, i must tell you that no awareness programs could make them ready to use the electronic payment systems of any sorts.
This initiative by the government will cause adverse effects on the life's of 20-30% of Indians and i am not just talking about the troubles the nation is facing now. I would say that the hard earned money of 20% of Indians will have only the value of piece of papers by the coming January 1st. The good thing is that their life earnings are not as huge as Ambani or Adani's multi-billion crores or as huge as yours or mine millions or crores. The average of their life earnings will be at a maximum of thousands or a lakh. So, the loss of money won't be so high and won't affect the national economy in any way. And so there won't have any hues and cries about it. But the bad thing is that, those thousands are their life earnings, their hard earned money which has the smell of their blood. The government is taking that away from them and they are unaware or are unable to do anything about it. That's just as bad as cold blooded murder. The media won't tell you about the suicidal state of these citizens, as there are no profits for the media in doing so. And the lone voices which speaks for them will be immediately neutralized.
Read my initial statement again. I never said THE REASON, i said one of the reason and i stand by that. Even if Indian banking system had faced the same kind of trouble as the western banks had during the global recession period, the effect on Indian economy would not be as bad as it was on the western economy. And it's because of the fact that Indian economy is not fully dependent on the banking systems. Making Indian economy fully dependent on the banking system and thus to the external factors, the government is practically blowing up the pillars of Indian economy.
70% of payments in India are still made in cash and that's a huge number. You can't just put a full stop to that on a single day. And if you try to do so, the negative effect on the economy will be beyond imaginary which i am afraid that we are going to face it in the coming months. The agriculture, which is the base of Indian economy is already struggling and the small and medium sectors are badly hit. Even if the government had to take these measures, they should have done it step by step and in a better way.
The Greece financial collapse is a prime example of what excessive dependents on banking systems could do to your economy. But as it stands, in India, even if the banking system collapse, we would still manage to live as our economy, especially the retails and markets are not fully dependent on the banks.
There were multiple reports regarding this 6% valuation and some were based on the studies made by one or more institutions. I can't find the links now on my initial search and i don't have much time now. If needed, i will search in details and will post it later. Now for the sake of argument, let's say that the amount of black money in the form of currency in India is 15% and the government may be successful to destroy/seize around half of that, which is 8%. It's still nowhere near enough to justify the struggles caused to the common man. Government could have gone after the obvious methods of stocking the black money which are gold, real estate and foreign bank accounts/investments. This move wouldn't inconvenience 99% of the citizens and it wouldn't badly affect the entire economy as it is now. And by starting with the gold, real estate and foreign accounts, which will only affect the rich people who are also the holders of black money, the government could have send a good message to the nation and thus people would have been be more willing to scarifies for the good cause. By starting with the demonetisation of currency, the suffering was only limited to the common man and also people are asking question about the government intentions.
Again my comment clearly states that SOME OF THE SUPER RICH, means not ALL OF THE SUPER RICH. The more i read through your comments, the more i am starting to believe that you are just another blind bhakt. This is one of the strategy of the current government and their party, which is to play with the sentiments and thus fool the people. Yes, it will work and it is working in India. But i don't think it will work in an international forum. The people here are more open minded and are more reasonable. Those sentimental angle and crocodile tears will only result in getting trolled on these kind of forums.
My dear, every government has the full details of most of the black money holders. They just have to show the will power to go after them. If you have the proofs and the will to seize the unaccounted money, why should the government be afraid of the court and its decisions?? That's such a lame excuse.
Again not correct. 80% Indian wealth is with less than 15% of the people. So raiding some (i said some of them, please note) of them would have recovered much more than that of the wholesome effort. I am sure that the government and the IT department will have a clear idea about these 15% people and so it will be easy to focus on them than the entire nation 130 crore people.
And some of the people are of the impression that the total amount of money which is deposited in the bank accounts after the demonetisation are black money and the government also, through their speeches and statements, is trying to make that false impression. The amount of money deposited in the bank accounts has nothing to do with the success on the fight against black money. Only the amount which are proven to be black money, should be counted to that account.
The move should have implemented in the reverse manner. Government could have started by cleaning up the 80% of Indian wealth by going after just 15% of the population. 85% of the population don't need to suffer for the wrong doings of a minority group. (I am in no way suggesting that all the rich 15% are black money holders and the remaining 85% are saints). This will not affect the common man and the economy as it is affected now. Also it would have been much easier step for the government to start with.
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