Points to remember before you participate in this discussion:
|Vaibhav Singhvi said: (Oct 21, 2017)|
|Demonetization i.e Ban on old Rs 500 and 1000 notes created a major impact on Middle-Class People in Day to Day life and in terms of value 15.28 trillion rupees were recovered from that of 15.44 trillion (98.96%) and if it was introduced there to reduce the corruption, then it has not created that much impact on corruption but it has solely affected the fulfilment of basic needs and various facilities for a span of months.
As per the introduction of demonetization for promoting online transaction, there is a little bit growth in online transactions but India is a country which requires time, in fact, a long span of time for effective growth of online transactions.
|Deepti Arya said: (Oct 20, 2017)|
|According to me, as we know a coin has its two faces one is head and the other is the tail. Demonetisation also has some advantages and disadvantages. If we really want to see our India corruption less we have to give our contribution as the government is taking so many steps such as banning 500-1000 notes and GST to make our India corruption less. The decision of demonetization is an initiative and the purpose behind this decision was bring out the black money and make India cashless which is essential if we want to see our country developed.|
|Cijo V. Daniel said: (Oct 19, 2017)|
|According to me,
Demonetisation is mostly affected by the middle-class people in the country. I can't see any wealthy people in the country were in the large Queue's infront of the bank. It is the worst policy by the central government.
Only beneficial of demonetization is one of the richest people in the country. It's not just for reducing corruption and black money but for wealthy some of the co-operatives in the country.
|Ankur said: (Oct 18, 2017)|
|According to my opinion, demonetization is important in regularly after 10 years according to our constitution.
Due to demonetization corruption stop by 2% but not whole. Our prime minister Narendra Modi have taken a big step to stop the corruption and back up of black money. But for middle family is created some problem but it is right step for a developing country.
|Prashant said: (Oct 17, 2017)|
|A decision of demonization is the risky move by this current government. Yes, it admirable. As after demonetization news of old currency notes were found in the garbage. This shows that something black activity is there. Move out black money such step is necessary. Also, government working on getting information of black money holder from various banks across the world. Corruption will uproot need some time wait and watch.|
|Vetrivel said: (Oct 14, 2017)|
|In my opinion, demonetization is the but move but before implement the process all the politician and black money holders are all change the black money into white money. Due to this reason the implementation gets fails. And also the middle and poor stage people only gets suffer from this demonetization.|
|Prudhvi said: (Oct 14, 2017)|
Demonization is a step taken by our honorable prime minister. It is a good step which not implemented perfectly but it shows some effect like somewhat our country GDP increased by these step but according to me 5 percent black has been caught and we never seen demonization effecting black money holders so both positive and negative faces or there like a coin had two faces but according to me it's a great step with small change and less effects.
|Niharika said: (Oct 13, 2017)|
|I think Demonitation is a drastic step taken by PM Modi Government on last November, to exchange the currency also given a very little time, mainly to increase Cashless transaction and enhance the economy growth of India. Due to this poor and middle class suffered, to stand on a long queue for a few thousand rupees, no amount is used to available in ATMS and banks. Higher grade people is continued by bribing the officals to complete therepending works, next to avoid fake currency but I guess no within the release the new notes, fake currency started producing, it is running everywhere in India.|
|Shashikanta said: (Oct 13, 2017)|
|It's not small step to our economy, but it must be in a proper way. It's not a work of a peon, it should undergo a supervision. Carefully needed to be announced, because if you have God's to do ri8 to our nation, come forward as.
Rulling party not as like brain function of a class-d worker.
|Shan said: (Oct 12, 2017)|
|On 8 November 2016 when our honorable prime minister Narendra Modi announced the demonetization, it means all 500 and 1000 rs note are not acceptable in the market that the big decision to anyone. I think its the good decision but its implementation is not good that is should be. Because after that decision our economy GDP goes 7% to 6%. By the demonetization, every people are affected. And I think most poor people are a blender in this process because if there is no money in the market so the poor people who based on daily wages. They are totally unemployed and for survive they have to stand on the long question at the front of atm. That the reason I against of demonetization. Our prime minister said by the help of demonetization we reduce the black money in the market. The fresh report of rbi is said only 1% 500 and 1000 rs are not back and the 99% get back in the bank. So I think demonetization is a good idea but its implementation are not like that it should be.|
|Lechmi said: (Oct 11, 2017)|
|The banning of 500 and 1000 denomination note was aimed at a social evil that is dragging our country's economic growth- the corruption. But it adversely affected the society because of its improper implementation. The common people and the entire economy struggled a lot after demonitsation. The post demonitsation period lagged behind the expected growth. For what it was done just happened the opposite.|
|Sneha said: (Oct 8, 2017)|
|Last year in November, our honorable PM Modi declared that from now 500 bad 1000 RS notes won't be a legal currency and even gave a span of time for exchanging old money with new one.
This was a very bold step taken by the Indian govt and the major reason behind it was.
1. to fight corruption.
2. to reduce the flow of black money in Indian economy.
3. to reduce face currency.
I think it was a very good step taken by the govt but it wasn't implemented in the manner it should be. The government didn't prepare for it there was a shortage of new currency. A Common man who was supposed to be benefited by this act suffered a lot bro it standing in endless lines and the limit of the transaction. Also, the old people and poor and uneducated unaware people were also affected very badly.
Corruption instead of decreasing increased.
Do I think it could be a very good move if before just declaring they were move prepared for the worst? A demonstration has only burdened Indian economy by the additional cost of printing more notes.
|Cs Deol said: (Oct 8, 2017)|
|If we talk a serious debate on demonetization issue than there is a lot of things which we have to discussed.
Firstly, we talk about its advantages, it is a short-term process of applying a brake on a problem of corruption, terror funding, and many other black market business. If it repeated continuously after a certain period of time such as 10-12 years than it may be effective. In order to gain more from this action than it should be applied before elections. On the other hand, if we talk about its demerits than it will affect innocent people more due to our corrupt system. People died due to poor management. Some rich people having good political connectivity recover more than half of new circulated money. If we are equal than we could not do such discrimination on the circulation of currency. Moreover, farmers suffer more than anyone else. At end, I must say a demonetization is a good approach for the progress of our nation but with this, I must say it should be applied for everyone not only for poor but also for leaders, rich, actors, singers, and many other. It is successful only if we see leaders, rich, actors in a line for changing notes.
|Prachi said: (Oct 7, 2017)|
|Banning 500 and 1000 rupee notes were like a changing clothes. As our respected Prime Minister Shri Narendra Modi took a decision of demonetization on 8th nov. 2016 at the evening.
But according to me, nothing is changed. Only common people suffered and those who were corrupted they exchanged their money by buying gold or did investment in properties.
The Government decided demonetization to reduce the level of corruption but it doesn't seem like it worked.
To find corrupted people common people suffered although they weren't a part of corruption. In search of ruin, spoil, dirty and big fish government take out the whole water from the lake and the result is small and healthy fish also died because of the scarcity of water. The Government should think about common and rural people.
|Prabaharan Ravisekar said: (Oct 7, 2017)|
According to me, Demonetisation has both advantages and disadvantages. Because of demonetisation the value of old 1000 and 500 notes became zero which reduced the illegal weapon businesses with took place between the terrorists through fake old Indian currencies which is an advantage and the replacement of the old 1000 currency notes with new 2000 rupee notes may increase the production and easy transport of new 2000rs fake currencies which is disadvantage.
|Ajay Kumar said: (Oct 6, 2017)|
|Demoralization is the good move by the govt and this move is the fight for ill society like black money, corruption etc. This is the good move by the government. But I think so that govt and any authorities is not prepaid this activity because poor people and old person are very suffered and standard in ATM lines. But this is the short-term losses.|
|Pawan Khandelwal said: (Oct 6, 2017)|
|I can't say anything about this right now because I'm cashless nowadays and I can't tell this to anyone so I'm posting here only but without cash also I can survive. If I know how to live with cash. Then I should also know that how to live without cash?|
|Ashutosh Shakya said: (Oct 5, 2017)|
|I think now it is time to discuss not ban in our country. It was a very difficult decision to make and it is also a brave decision. But not implemented correctly because we didn't got those results which we want from this decision. There are so many people which are affected by this decision but they don't get any benefit from the government.|
|Ashutosh Shakya said: (Oct 5, 2017)|
|I think now it is a time to discuss not ban in our country. It was a very difficult decision to make and it is also a brave decision. But not implemented correctly because we didn't got those results which we want from this decision. There are so many people which are affected by this decision but they don't get any benefit from the goverment.|
|Ramjit said: (Oct 4, 2017)|
|It's a good initiative taken by our PM Shri Narendra Modi to make our country free from the black money and corruption happening in our country. As without proper planning and strategies they implemented this and due to which the common people of the country affected it more. They suffered a lot for getting their money exchanged from the banks due to which many have to lose there lives because they do not have enough money with them to buy the foods. Along with these small-scale industry people also suffered due to this. These change added extra cost and debt to our Indian economy.|
|Ravi said: (Oct 3, 2017)|
|Ban 500, 1000 notes was a great decision for stopping the flow of black money and corruption. I think it was a just first step to remove the corruption and black money which was taken by our government but the main thing is that if we will not change anything will be changed. So it is our responsibility to stand with government's right decision.|
|Pandu said: (Oct 2, 2017)|
|The Government banned the notes with the aim of reducing the black money flow. But, they take the decision without proper planning and its effects. Because of this decision, common people suffered more than the rich and corruptionists.
Most of the small industries shut down due to most of the transaction occurs in the form direct cash flow and daily wage earners are losing their employment due to lack of direct cash which affected the economy during that period. The printing cost of the new notes is the additional burden to the Indian economy.
The aim of the government, to reduce the terror funding and accountability of black money partially reached. But the major corruptionists like any business mans, political people already exchanged their money and also the one who has the wealth in the form of gold, land is not at all affected.
With the demonstration government simply changes the old notes to new notes with adding colors with very fewer benefits.
|Shruti Choubey said: (Oct 2, 2017)|
|I think, in our country corruption is in blood. It has such an awful impact everywhere that no action can ever rip it out. Demonetisation in it's beginning seemed to have a powerful impact but more than that it created the problematic situation. People were found exhausting themselves in queue whole day. But it doesn't have mattered if they would have got for what they were compelled to exchange their money. Ie. Bringing back of black money.
People said, the difference between rich and poor will be shortened through this process but no one can ever have a thought that Narendra Modi alone can't make the country perfect if evil people and other malevolent leaders inside the country have doggedly decided to retain its corruption.
Every law and order can only show it's effective consequences if and only if we all together are ready for that otherwise a single decayed mango is enough to make other mangoes go bad.
|Rayaan said: (Sep 30, 2017)|
|I would like to say that just changing of clothes has been done in the name of demonetization.
If black money was in the form of 500 and 1000 notes then even it can be with new notes as well.
The ground effect of demonetization is very bad.
Rich are getting richer, poor are getting poorer.
But as we know everything has both pros and cons. Demonetization couldn't eradicate corruption but has played a key role in heading India towards a digital nation.
|Priyanka said: (Sep 30, 2017)|
|Yes, Demonetization helps us up to some extent, but it is important to think the rich people used their servant for exchanging money because these people illiterate about demonetization so reach people easily used illiterate people. But in terms of terrorism it a great steps of our India.|
|Sweetie said: (Sep 28, 2017)|
|Demonetization is the use full think. But so many people are effecting in this changes, but rich people no one is affected because everyone gets and changes with money quickly, rich people going to be rich and poor people going to be poorer that is Fact.|
|Krishna Vivek said: (Sep 26, 2017)|
|Corruption can be uprooted partially but not completely by banning 500 and 1000 notes. But banning these notes gives us a hope on the government for the better development society. In this present world, evrryone expects something for their work they had done even it was not a well defined one, . There are so many who uses their intellectual and innovative brain for the bad purpose rather than for a good cause.
This can be explained through an example, after unveiling any good product into the market by small firms, it will be underlay in the society by some crummy firms as those are having some reputation in the society, so the small but good firms are suppressed. So we can say rich are becoming rich by opting some indirect and illegal ways but the poor are becoming more poor.
|Eshita said: (Sep 26, 2017)|
|Black money is the result of the mentality of people. Any action towards removing it completely, would not help! And so was demonetization. Of course, black money reduced, in the economy, as compared to it was earlier. It did not root out all the black money from the economy as much of it was in terms of investments and not in cash. But fulfilled one of the objectives of demonetization, i.e to control terror funding. Terror funding has taken a pause since demonetization was announced. Best we can do is to bring our mentality on track and focus towards growth and development of our country rather than just practicing tax evasion!|
|Vaibhav said: (Sep 26, 2017)|
|First of all demonetisation was done before in many countries such as Nigeria, Soviet Union. Australia, Pakistan etc. And the results were very bad. At least our govt should make a proper plan before announcing any decision.
Many of you don't know but before many atms used to dispense 500 &100 rs notes but few months before demonetisation each atm started dispensing 1000rs notes.
It was just a publicity stunt as 2019 elections are comming. If we see the speech of our PM he has just been announced the decision to the public not in the parliament.
And the next day he just flies to Thailand and Japan. It's not fair. Is our honourable PM doesn't have any of the 1000 and 500 notes or he is changing them in Japan.
Post demonetisation there were many cases of police catching crores of new notes. Where are they from?
And one Gujarati man surrenders with a black money of amount 800 crores.
It's just like a game in which common man is going to suffer adversely.
No one has given the figure that how much black money has been caught.
Our Ex-PM Manmohan Singh who is a Great economist. Former governor of Reserve bank stated 2 days ago - Demonetisation was not at all necessary in India.
|Rekha said: (Sep 24, 2017)|
|Corruption is something that cannot be uprooted. This is the unbelievable truth. Yes! It can be shaken a little. Banning 500 and 1000 notes did make some politicians and other famous people amaze and at the same time put them in a situation to protect them or else see themselves in jail with their black money. But if this ban was kept in mind to uproot the corruption then it was a failure not the total failure. The common people were only affected at higher percentage. What the government did was good but it required a proper implementation.|
|Yash said: (Sep 24, 2017)|
|Though demonetization was done with a clean purpose of sweeping out the black money from India but without proper arrangements, preparations and without deeply considering its future aspects. While demonetization affected the current stock of black money but it did nothing very effective to stop it's (black money) future flow.
I have to say that through PM was successful in bringing back 97% of the total demonetized currency I was not very amazed to see that a recent survey stated that most of the black money in India is not held in form of cash but as investments, real estate, jewellery etc.
|Veda said: (Sep 22, 2017)|
|India is a democratic country i.e a govt of the people, for the people & by the people! Now, that our honourable pm Mr.Modi declared demonetisation of notes all of a sudden, People - the illiterate & poor sections suffered a lot in a confusion regarding the exchange & the fear of losing money took a few people's lives too. Though it was a good decision, it required some preparation, the govt being a democratic one along with aiming at the rich section of our society, it should have foreseen the ill effects of demonetisation on the weaker illiterate section of the society.|
|Akku said: (Sep 22, 2017)|
Demonetisation of 500 and1000 rupee notes is one of the major economic reform announced by our govt this year. This is done paramount to the rise in the flow of black money thereby destroying Indian economy. This is a great decision but it failed in its implementation. The failure happened in its implementation makes Indians suffer more especially the common people. The sudden announcement and the short span allowed for exchanging the demonetised notes make a large queue in front of banks and atm, make the life of common man miserable. The govt aimed at the black money giants, but they handled the situation without making any harm for them.
In fact, the everyone claiming that demonetisation is a failure, govt argues it could bring out some of the black money. The another drawback happened is we all know India is a country with a many illiterate people they were ignorant about this demonetisation and they got trapped and even some others make use of them. So in my opinion demonetisation could not bring out whole the black money or couldn't uproot corruption but this reform makes them changing their strategies in corruption.
|Rajan Jagotra said: (Sep 21, 2017)|
|As we saw the latest news after all calculation Ban on old 500 1000 notes is just all publicity stunt of BJP GOV.
So that they can say to their people that they tried to collect that black money but they didn't get succeed.
But the bulk of black money which is in the swiz back no BJP person talks about it.
If they capable they should ask for swiz bank tell them all the account holders that are from Indian.
Mostly they're all politicians which hide their money so nobody can point them out.
So that's it from my point of view 500 1000 ban is a blunder of our gov.
Our GDP growth goes down and 150 people lose their life's.
|Ali Khan said: (Sep 19, 2017)|
|Demonitisatization is a step taken by govt with a good intention but with out taking advice from competant authorities and the preparation was also not up to the mark as asserted by many financial experts.
Declaring 86% of the currency invalid at midnight was nothing less than a nightmare.
Financially it was a bad move as conveyed by Forbes as well as raghuram rajan our ex governor rbi.
The main intention behind note ban was to eliminate black money but what I think is that govt was not ready to implement it unanimously because of the following reasons:.
Firstly The note ban was not applied to political parties which acted as the catalyst for black money holders to convert their money as we all have seen the case of bsp supremo Mayawati.
Secondaly the cash crunch reserted complete paralysis of indias informal sector.
Thirdly govt claimed that it will help to reduce terroe fundings in kashmir and in moist areas but the ground reality is a bit different as we all have seen that many terror attacks in kashmir as well as in moist areas has taken place that resulted in large casualties.
Lastly if we look at the stats of rbi it conveys that 99% currency has come back so possibility of fake notes is also ruled out to large extent.
The main effect that cash crunch has created can be seen on our gdp which plunged 2% that means a loss of 2000 lack crore.
There are many companies and factories that shutted down due to demonitization, and of coarse we all know the plight of it sector which witnessed loss loss of lack of people.
So in the end I just want to say that doing things for the sake of doing will create nothing but problems for our nations so we all should think rationakly become taking any decision.
|Kajal said: (Sep 18, 2017)|
|The process of banning 500 and 1000 notes is called Demonetisation. It was a great move took by the Indian Government. The process aimed to remove all the black money from the corrupted people. The honorable PM took a great step that old 500 and 1000 rupees notes would be valid for the hospital use only so that medical patients couldn't get harm from it. Moreover, there was a restriction on the purchase of the gold so that the corrupted people would not be able to save their black money. The astonishing step that was taken by the government resulted into Corruption uprooted. Because all those people having black money suddenly get this information and were unable to exchange their black money. The government took the smartest step that one can exchange their money only up to 1 lac only. Otherwise, they need to tell all the required information about the money. At last, I can conclude that there was a larger decrement in the black money from the corrupted people.|
|Raji Koshy said: (Sep 18, 2017)|
|Hats off the Modi for taking a bold step - which most of them could not have done.
I am sure lots of fake currency which was in circulation in India came to an end.
Other than that I do not think it has any effect on black money or corruption. It's a fake concept just to please the public.
|Soumya Sinha said: (Sep 17, 2017)|
|Demonetization is a very bold move and gutsy step taken by our honorable Prime Minister Sri Narendra Modi on the 8TH November 2016. This was done to remove the black money which have been saved by our corrupted politicians and businessmen. Use of rs 500 and 1000 was stopped from the midnight only and was declared those currency note just as a piece of paper which doesnot have any market value.
The main purpose for demonetisation was to remove the black money but in the meanwhile it made suffered both commom people along with buisnessmen. Common people faced alot of trouble due to scarcity of cash. Some of them lost their loving near and dear ones due to the inhumanity shown by the doctors. They didnot treated the patient at old currency note and most poor people were unawre about the digital transaction so they don't have any option rather to lose them.
Infact suffering of cash continue till 1-2 months. Most of the corrupted people got their black money into white money by getting in the gold or with the help of some of corrupted employees of the bank.
But there has been one good impact in our country that cocept of "Digital Transaction" has been applied. Now, people can go for shopping cashless. And this concept will soon led India to be a Digital India.
Banning of note was done with the purpose to fight against corruption and was lso successful to some extent.
Lastly, I would like to say that Demonetisation was meant with the concept of betterment of nation but it lead to the sufferings of common people. We hope these suffering would be able to convert into sweet mango as output in the future.
|Rashmi said: (Sep 17, 2017)|
|According to me, banning of 500/1000 notes was a good initiative but it didn't make a direct impact on corruption as people invented numerous ways to go through the situation and also govt fails to implement it properly. But I think it was a good move to extract hidden money from people. Because within few days much more money gets deposited in banks & there was a huge increase in payments of Property Tax to municipal corporations.
One of the best results is that, because of less/no available cash, people started using digital mode for making payments. Though at the start people suffered a lot, then they end up using new technologies for making payments. Digital Payments are important to make transactions transparent so as to reduce corruption.
|Shweta said: (Sep 17, 2017)|
As we know corruption is a chronic disease in India. So it's best act was taken by Modi. According to my point of view, in many places change have been seen but according to RBI: 99% circulating money get back and 1% does not get back due to sinners in our country got success in converting black money to white money. As a result gradually decreased in economy. But its good news that according to RBI, the government got success in reducing 12 % corruption. So its better way to do stepwise action and in a country like India its very heart touching movement that in 1-night government change currency and as we know behind every unsuccessful thing there is a success. So it's not uproot of corruption. But it will be after some year.
|S Rana said: (Sep 17, 2017)|
|Demonetisation is not a way of stopping corruption as people have other ways to invest their black money. Instead the law system of India need to be corrected for which people will be highly punished for their corruption and the law providing system should be made fast.|
|Kishor said: (Sep 16, 2017)|
|Being in a country where corruption always rules the nation. Demonization doesn't have any effect on corruption. The most affected are middle class and people under below poverty line. We Indians majorly have liquid cash at home. If I save a 1000rs note can't I save a 2000rs note which has bigger and better value in the market. Corruption was just changing its clothes.|
|Surbhi Gupta said: (Sep 16, 2017)|
|The banning of 500, 1000 notes have a very little affect, because it contributes a little to the economy. The lots of money, people have remained closed. It does not expose a big one. People with lots of money mainly invests in shares, land, gold. So it's a first drawback of banning it. Secondly, middle-class people and rural people were mostly suffered, as they go lining up in long rows for days to change their money and sometimes they find it so difficult to row in hot weather. Lots of burden to every bank and employees were working overtime. People who want to debit money from ATM rarely found it. Thirdly, the economy is affected by as it goes down from the previous year. The industrial business goes down, the companies market is also down. Unemployment goes high. People were rushed off from companies. But somehow the P.M.Got to know about the liquidity in the market and it is expected in coming years the next target will be land and gold. So before taking such a step which can create a major disruption, the think tank strategy should be used.
|Elakiyajeyasakthi said: (Sep 15, 2017)|
|Hi friends, the decision of banning 500 and 1000 notes is a good decision. But still, there is a corruption in our country again the government should take severe action against the corruption taking place in India. But by the Demonetization poor people and the middle class had suffered a lot. So if there is any idea for the government to fight against the corruption again they should take steps which should not affect the poor people. However, by the process of demonetization corruption get decreased.|
|Kush Soni said: (Sep 15, 2017)|
|From my point of view, Corruption is Increased due to the demonetisation because all the black money is changed into new currency. During demonitisation corruption is increased people give money to change there black money to white money and lot of bank employees are involved in corruption and legal action are taken on some of the employee which are proved to be corrupted. Lot of money are spend in the demonitisation process around 1600cr are spend on printing of new notes.|
|Samajwadi said: (Sep 15, 2017)|
|This is the biggest scam in independent India. This is just for the business men's. According to RBI report 99 percrnt notes returned to the bank and RBI has a loss of 6000 crores. This is affecting GDP and it will affect in future too. Poor people will get nothing. Only few people will get profit who are the members of saffron party.|
|Abhishek said: (Sep 15, 2017)|
|I think in most of the place many changes have been seen but people who have black money they again started collecting black money of new notes. And it will again happen that rich is going to be more rich and poor will going to be poorer. And the economy will get gradually decrease.|
|Rishi Agrawal. said: (Sep 14, 2017)|
It's obvious that since government is doing something to get rid of black money will always have the main motive to do in favour of common people but doing things unstrategically doesn't makes sense, they thought that if they would successfully implement demonetization they can get rid of things like black money, corruption up to some extent, good economy etc etc but it didn't happen, applying such a large change in a country like India in one night and where peoples don't keep their money in banks would be possible.
The thing is there no fault of government neither the common people the fault is made by private firms like Axis bank who didn't follow the norms of demonetization and till end allowed the people's to exchange money, due to which the exact sinner didn't get caught and all gone wrong.
My opinion would be that government is doing things for the good of common people's but there are external entities too who don't want this to happen as they are the sinner, so government should do it with the right and the strict strategic planning so that it's aim should be fulfilled.
|Santosh Kumar Achary said: (Sep 14, 2017)|
|Let us first analysis the situation then you can decide:.
1. According to RBI 99. 9% circulating money return back and 0. 1% which is 16000 crores never returned back, which means the either the black money holder number is less or they have found alternative routes or loop holes in government practice in eradicating black money and to me the second option seems more true.
2. Govt said the fake currency would be minimized but soon after a month of release of 2000 notes a large amount of fake 2000 notes was reported to be circulating.
3. Govt said Terrorist attack would go down and yes it went down for some few days but after few days the rate of terrorist attack was as before the demonetization.
4. Govt said people would move to cashless India and yes cashless transaction reached a peak upto february but as soon as the notes were made widely available the cashless transaction drastically dropped.
5. Govt said the number of tax payer increased to 14% from 8% this year but as we see the statistics the number of tax payer increased by 13.8% in 2011-12 and 14.2% in 2012-2013, so fooling people by taking 8% as the base is not acceptable.
6. Loses in 1st 50 days is:. 1.28 Lakh crore, 15 Lakh persons became unemployed, 120 deaths.
7. Cost of new printing notes is 21000 crore.
8. GDP growth decreased by 2.%.
So after analyzing all the above points we can conclude that it was a great step taken by government but it lacked the management post demonetization which didn't helped to uproot the corruption but yes it helped to buy a new pair of dresses for higher denomination notes.
|Ram said: (Sep 14, 2017)|
|Hi. Good morning.
I think demonstration is good topic. Ban 500 1000 is good for reducing black money I think so. But after realising the it not worth less for country. Because it didn't change anything. It was main disappointed of myself. Poor people affected mainly in demonstration because they are changing own money for very long time. Some rich people change money in online transaction. Poor people not awareness about it. It was over rooted for black money. In most people spend time in bank and atm. It was disappointed me on.
|Abhishek Singh said: (Sep 14, 2017)|
|According to my point of view, demonatisation is a good step by the government because of these which money is out of market will come come in market and also wrong note is remove. Obviously this step this step causes many problem but most of people support the government decision. Because of demonatisation cashless transection increaseed. This will lead to cashless economy. Due to cashless transection corruption, crime and terrorism also decreases.|
|Pihu said: (Sep 13, 2017)|
|Demonetization is a great step taken by the modi's government. But it found to be of less worth. Eariler I thought its good Nd will remove the corruption. But later on I realised it wasnt fruitful. It was just a changing of clothes. And to common people it caused many problems. They daily schedule got distracted as they have to stand in long long queus for withdrawal of their money. And many a times they stand in queus still they dint get money. Due to shortage of Money in ATM machines. And secondly rich people and people those who are in power they dint faced this much of problm as they got the money exchanged in return paying bribe. They got converted their black money to white in return of bribe. So corrution remained the same. And the ban of 500-1000 was done unplanned they was shortage of resources and sevices. If it was done in well planned manner than smhow it could be of little worth. Thank you.|
|Nancy said: (Sep 12, 2017)|
|In my view, the demonetisation process was a great step of Modi Government but mostly those who were actually the cause of corruption had somehow easily managed to exchange their notes into someone else's accounts and paying them in return. The common man suffered a lot as they had to wait for hours out of atm, just to get a 2000 rs note. Sometimes they didn't even get that also and there schedule was also disturbed. The higher classes got their money exchanged by others by paying them bribe they did so. So, the common people suffered and the higher classes easily handled the situation by paying bribes in return, this invoked even more corruption.|
|Ayush Nautiyal said: (Sep 12, 2017)|
|Hello everyone, as we have a topic that due to demonetisation in actual the corruption has uprooted or else it is Jus a changing of clothes. Yes actually it is nothing but the changing of clothes. In recent, RBI launched a report in which it had been said by RBI governor urjit Patel that 99% of money is again in a system out of demonetised money. So, it means, the revolution for uprooting the black money was full of worthless and even we would say that because of it we are in a huge loss. Because the money that we would have incurred for printing new notes, that should also be in a counting and in totality wether we are in a profit or loss. It Is also not been spoken by anyone even after the completion of one year of demonetisation incident. And because of it now our economy has been fallen down to 5. 6%. Because of this current account deficit has also down. Import is even more lesser than export now. Because of that GDP had shooked up. So my point of saying is that before execution of any thing proper planning is required where the govt had lagged out. If they would have properly planned it then could have scenario different now.|
|Venkatesh said: (Sep 11, 2017)|
Demonetization is the great act taken by the Modi government to eliminate black money or corruption in India.
But it has failed to get back black money. Indeed it offers the corrupted people to convert black money into white money. Rbi announced that 99 percent of the money is got back. But there is no improvement in India economy.
Even because of this thing common people and bank employees are suffered by wasting their time in the ATM's and spending extra time in banks respectively.
|Rohti said: (Sep 11, 2017)|
|At first, I think banning 500 & 1000 rupees notes will bring black money out. But after some time I just realized that this just turned the black money of corrupted people into white money. Only the positive thing of banning notes and bringing new notes is that we get rid of the notes with cheap words & drawing made on the old notes. Ordinary people suffer much from this decision by leaving their work and standing in the lines of banks. This also impacts on bank staff as they have to work for extra hours. At last, I want to say that banning 500, 1000 notes do nothing on corruption although it becomes easy for the corrupt people to store their bribe with 2000 rupees notes.|
|Ferhina said: (Sep 9, 2017)|
|Banning of 500, 2000 notes was a great step, taken by Modi government to remove corruption, as in our nation corruption has become one of the most leading problems. But the result of this scheme is not very much effective to get back all black money. As government Told that at least 30% cash can't be back because these all are corrupted money. But according to the latest census, 99% of the demonized money is backed. These might be due to either there is no one is corrupted or people by different methods convert their black money into white. So I think the second point is more suitable to say that people by various techniques turn their money into white money. In fact, not only in case of corruption but also in case of GDP it shows drastic results, our GDP growth rate fell down by 2.2%. Further, it shows a poor result in case of fake notes seizure and if verily said then due to this our nation incurred a loss of near about 500-600 lakh crore. But yes we can't deny from that it showed a good rise in the number of tax payer as well as tax collection. But when we check previous years tax collection report it shows gradual growth in tax in every year. In fact, in the year 2013, tax growth rate is exact to 14%. So as per my view, it's not pertinent to show it as a demonetisation result. In a nut, for me, it's not uprooted.|
|Akshay said: (Sep 7, 2017)|
The surgical strike on black money named as demonetization. After banning 500 & 1000 notes which occupied 90% of our total value & this %of notes availability having various form, like black money, duplicate note etc. There is a lots of a reason of banning those notes.
Return of black money wd their owner also, stop terror funding, boost the e-coms business etc. After banning, rs come as black money is around 4k core. A huge growth on net banking, & also influence the terror funding.
Yes, there are some mistakes also. It was not proper pre - planned decision, manager of reputed banks are also cheated with their nation as we all know.
A Few days ago when RBI governor said that, the 99%of notes as in form of 500 & 1000 returns to the bank. So there was a point where is so called black money. In the last one thing I should say that, if you change nothing, nothing will change. History repeats itself. As per my concern that was a historic step taken by the gov & history never comes as easy as we think.
|Rupal said: (Sep 7, 2017)|
According to me, Although it was the great tool but just proved as the introduction of new notes on the place of old ones. The demonitisation didn't have drastic impact. Corruptionist had welcomed it with counterfiet & duplicate notes. We can't deny that its impact is nil, the corruptionist still have fear in mind, as per the facts 50-60 lacs new income tax return were filled this year & tax has been paid by the people whose income was taxable but they have not stopped themselves from doing something which is illegal. So we can say that 500-1000 notes didn't uprooted corruption completely, it stopped corruption for a while thats it.
|Piyush said: (Sep 6, 2017)|
|Banning of old 500, 1000 was a good step taken by the Indian government which in single word it is termed as" demonetization". Though it doesn't have created any great impact, it just a result into the changing from old notes to the new notes. According to RBI 99%of the old currency was being returned to the banks. After introduction new 500 and 2000 notes, the duplicate notes was also been introduced into the market which affects the Indian economy. Though the corruption was not vanished completely. Now the corrupt person asked for new notes to do our work. According to me, expect some thing the demonetization is not the great way to uproot the corruption.|
|Shubham said: (Sep 6, 2017)|
What I believe about demonetization, this policy had failed in India. Although it is a good step taken by Modi government but not in a planned manner. Corruption has not been cured neither came out in front of the Indian government. At the time of demonetization, People of India was exchanging notes at some exchange rates and manager of banks also caught by Indian government exchanging new currency notes with old currency at some exchange rate. This step back fires the Indian government what actually has decided and the result came out, both are opposite. According to me, it is a great step to fight against corruption but it should be planned before taking a decision.
|Jithu said: (Sep 6, 2017)|
|The Word Demonetization is surfed in google by most of all to know the meaning. Hope later we all physically experienced the meaning of the same by out of cash at ATM queues. Predominantly It shakes our market share @ global market. Entire Nation was encouraged for such brave move by PM to avoid Black money & corruption. But the end result says 99% of Rs 500-1000 Notes collected by RBI reports. So where is the black Money? Now.|
|Nish said: (Sep 5, 2017)|
|In India recently demonetization has taken place. I think demonetization is the good step taken by our prime minister narendra modi. Not all but most of the black money get collected by government. But the demonetization does not happen with all preparation. Banning of 500, 1000 notes not whole corruption uprooted but a little good action was this against corrupt people. It must have to be taken with all preparation that was not the case on this demonetization.|
|Upendra Yadav said: (Sep 5, 2017)|
Everyone good morning and all I admit for who was share the topic.
I also want to share my view on this topic.
Demonetization is the biggest step taken by respected Narendra Modi. According to respected Modi it was SURGICAL STRIKE on black money holder. We should know peoples who involve in corruption belongs to a rich background poor people are for away from corruption. During demonetization, banks gave priority to the rich people to deposit their cash and only poor people and small industry owner faced the problem.
Rich people used online transaction system during demonetization.
The Government can choose another way to eliminate corruption the way which strikes only to black money holder.
|Nidhi Ahuja said: (Sep 5, 2017)|
|Demonetisation is being painted by some as a colourful picture of the future while by some as dark and gloomy picture of the past with lasting repurcussions. All in all, it's still a grey area, for it's confusing.
Demonetisation was carried out with an intend to get rid of the black cash in the economy. But the recent RBI reports show that 99% of the cash was deposited back into the banks. So what the government assumed of the money hoarders that they will throw away their hidden stacks of notes, didn't really happen.
Supporters of demonetisation claim that although the black money is back in the system, after demonetisation, the tax department now has the information of people who deposited large sums of money which may not be explained by their incomes. And hence, demonetisation opened a window for taking action against such people. But these consequences were declared by the govt at the time of introducing demonetisation and the money hoarders and tax evaders found new ways to get their money back into the system through some loopholes. Large sums of black money was split into smaller chunks and deposited in the banks using different accounts (mostly jan dhan accounts). Theses accounts holders were then paid some commision. Hence, paradoxically demonetisation created opportunities for more bribes and curruption to take place.
The intend behind this drive was laudable but it wasn't a thought out decision. It could still haven't garnered as much critiscism if it was managed properly at the time when ATMs were out of cash while the people queued up outside. Most of them where still smiling in appreciation of the govt's move but little did they know about how the pain wasn't all worth.
|Gaurav said: (Sep 4, 2017)|
|According to me, banning of 500 and 1000 rs notes has definitely reduced the amount of black money but the execution of the ban was not proper as a lot of people has rotated their money even after the ban. It created such a chaos in the country. According to forbes editor in chief this decision of banning of notes is a theft. Gdp of the country has also reduced from 2015 to 2016 year. Also, the money required to make the new currency also added to the loss.|
|Sujit Upadhyay said: (Sep 4, 2017)|
According to me, demonetization is not complete solution of corruption in India. Because there are my types of problem in India. Since maximum black money of the country is in the pocket of leaders and they are not much affected by demonetization. They are able to convert their black money to white easily.
But this is a good decision of government because due to this most of the people who do not want to show their money to the government, they show. And now they continuously pay their tax.
Many leaders have also taught a lesson that it is bad to hide money to the government because during demonetization they waste their money also is useless work. So this is a lesson to them.
Demonetization is very necessary for each country due to this a more benefit is that fake currency is removed from the market for few years.
And there will a fear in every mind for the demonetization due to which they make their property transparent to the government.
So this is not a complete solution for demonetization but it is also very necessary to remove corruption from any country.
|Sai Prakash said: (Sep 3, 2017)|
I would like to add some points regarding demonetization every one says to reduce black money and to make India corruption less is it really works in our country no! there are lots of black money in our political people but no one is arrested up to now why because they exchanged their money before the announcement of demonetization and they put their money in business and games. Up to now government get the old notes 98.29% and remaining money no. The Whole burden of demonetization was taken by common people they waited lot of queues in front of ATM's to exchange their money and what about the village people for their agriculture media telecast all about this but no political people and no cinema stars were stand to exchange the old notes So corruption was not uprooted it's just changed clothes!
|Skh said: (Sep 2, 2017)|
According to my views PM Modi take a very powerfull step for our country but ban 500, 1000 note is not the proper solution of uprooted corruption because the black money holder people have adjusted their money anywhere and they again started to grow their money. Ban 500, 1000 notes effected a middle class person because their business is almost close for almost 2 months because their was no money in market. We all have heared news that some people left their black money on the road but I heared latest news that the money deposited in reserve bank is almost equal to new printed note that were withdraw by people but now the qns is where is the black money. According to me, this step was good but always a middle class families effected by these steps.
|Racky said: (Sep 2, 2017)|
|BENEFIT OF 500 & 1000 NOTES BANNED.
Large loss of Black money:- This conclusion is a pain in the ass for black money owners having vehicles of cash undeclared and experiencing without spending any tax. More and more businesses will be sorted those who accept paper money only such as small jewelers, hotels etc.
End of Fake currency racket:- If applied properly and successfully then it will outcome in end of fake currency noise as most of the fake racket is of Rs500 and Rs1000 but later scammers will create fake Rs2000 observe.
The Hurdle for terrorism:- As said by PM Modi "From across the border, our enemies operating racket in India through bogus currency, We all know he was referring to Pakistand and Chinese suppliers so this choice will put an obstacle in their direction. Funding for arms, smuggling, terrorism will take a blow. This is a most important advantage to the country.
DRAWBACK ALSO THERE.
Inconvenience to people:- load in trading notices to the comman individuals.
Elimination to common Individuals:- lots of Indian have a fake currency that it accidental or earned by effort and they are using it without knowing it. Now banks will refuse to take a fake money it direct loss for innocent people.
Lack of Tax Payers Cash:- Rs 500 printing expenses Rs 2.5 and Rs. 1000 expenses Rs 3, (approx). Multiply it by the number of 500 and 1000 notes present in India; now govt has to pay these funds from tax payers.
|Krishang Ugle said: (Sep 2, 2017)|
Actually, the law makers had a great vision of uprooting the corruption and black money but the banks turned out to be the real assholes. As they really started contaminating the purifier chain that established during the entire process of banning notes. Banks started prioritizing people and gave paths to the corrupts to escape easily. They really ruined the complete process. If they would not have done that the scenario would have been completely different.
|A. M. Raja said: (Sep 2, 2017)|
|It was one of the bold decision taken by the government. As the new printed 2000 notes directly reached to politicians, it is shown that not fully focused to root out the corruption from India.
Before implementation of any rare decision, precaution steps must be taken. Improper implementation killed around 100 poor people.
This type step will never vanish the corruption from some government employees and politicians mind.
|Prsanta said: (Sep 1, 2017)|
|HI my friends.
Ban of 500-1000 rupees is correct for the society.
But some people will suffer in this time and now will suffering.
But time is running and the value of money is growing.
Everything will also change why not currency change.
If currency change the Government receives some Tax which is benefited for us.
In my point of view, it is correct.
|Divya said: (Sep 1, 2017)|
Ban of 500, 1000 notes have not uprooted corruption.
Just to draw a an old age pension 500,
For filling up of challan 50 rs has to be paid.
Corruption exists everywhere.
Ban of notes was just an extra overhead for common and middle-class people.
See there also after implying a restriction of certain limits of money can be exchanged.
Not even few black money holders were caught and punished.
With Direct commitment with bank heads or authorities, they happily exchanged currency and they were safe.
Idea or thought was appreciable.
But actual implementation was failed.
Try try until and unless you succeed.
May be the plan didn't support well.
Definitely, in future coming days with some more ideas corruption can be eradicated.
|Rahul said: (Aug 31, 2017)|
|A great initiative was taken on 8th Nov by the INDIAN govt with the aim of uprooting corruption. But I think it was unable to achieve its target. Because by some or the other ways people managed to exchange their old currency to new currency. Very few were arrested while exchanging. Basically the middle class and the poor were the sufferers. Many workers lost there jobs others were not having money to buy the raw materials. Still the RBI has not been able to disclose the amount that they received as old currency neither the government Has been able to state the merits of demonitisation. They only stated that it will be beneficial in long run. Only positive impact is that now officers fear while taking bribe and keeping black money.|
|Subhajit Saha said: (Aug 31, 2017)|
On 8th Nov 2016, the NDA govt banned the 500 and 1000 rupee notes. It was a huge shock for the people's of India. The perspective of the govt to ban the currency notes were to uproot corruption, reduce counterfeit notes, reduce terrorist funding and also to bring digital payment solution in India. The motive of the govt was good but at the initial days the common man had to face huge pain and hardships and also the actual cause of uprooting corruption were not successful. The corrupted people i.e. the politicians did not face any problem, they converted their black money to white money very easily and none of them came to limelight and no other strict action was also taken against them. Apart from that in the initial days to some extent corruption was removed but it is again generating due to the introduction of new currency notes. And corruption will prevail throughout as it is in the blood of each and every Politician. So banning 500 and 1000 notes is like changing clothes but again wearing the same clothes.
|Vivek said: (Aug 30, 2017)|
According to me, the decision taken by our government is somehow beneficial in eradicating corruption to some extent. Not entire, but some of the black money is retrieved and the corrupt people had to suffer a lot during that phase of demonetization. But the negative side of the demonetization was that middle class and lower class people suffered a lot as it was an inconvenience for them to stand in the queue and exchange the money from the bank. People took the leave or manage their timings from their job in order to exchange money.
|Mohit Purbey said: (Aug 30, 2017)|
Ban of 500 and 1000 notes was a good move against corruption but it did not uproot the corruption completely. And I am saying this based on the fact that we all know that politicians are the most corrupt people in our country. But not a single politician faced any problem at the time of demonetization. Only common people faced a problem and yeah some corrupt common people. So, it is safe to say that ban of 500 and 1000 only eliminated 20% of corruption but not completely.
|Saikat Banerjee said: (Aug 30, 2017)|
|I think demonetization is a good step taken by the government. By implementing this procedure atleast thirty percent of the black money has been retrieved and with this money, the government can work on the welfare of the country. So according to me, this is a boon in our country, at least the present government tried their best to get some of that corrupted money. Initially many people suffered due to this change especially aged people were the victims many of the citizens blamed the government but I think being a responsible citizen we should carry out this order so that we can make our country better place to live.|
|Atindranath Ghosh said: (Aug 29, 2017)|
|Well, I think this move has uprooted corruption to a large extent. People who had black money were not able to change the currency notes due to rules imposed by the Government. According to the statistics, out of 14 lac crore, nearly 8-9 crore old currency has been collected which means that India Govt is able to remove it upto some extent.|
|Mohd Anas said: (Aug 29, 2017)|
On 8th november 2016 the decision taking by the pm of demonitize the old 500 and 1000 notes helps in eradicating the menac of corruption and black money to high level in nightmare only. Becoz firstly it is not taking the by keeping in the mind what it will leads to counsicounses to the poors who buy all the daily stuff and poor people. Secondly in India almost 2% of the rich people and builders holding 90% of the country income and no one is seen standing in the question of bank. Thirdly introduction of the 2000 note instead of 1000, will it reduce corruption? Before a suitcase carry 20 lacs now the same suit case carry 2 crore now you tell me corruption is going to increase or reduced. And one more thing it's been 9 month had passed what is the ground report of demonitization. How much amount of gdp has liftedup or how much black money came back to RBI. Government failed to tell. They are saying counting is still in process.
|Yash Mudaliar said: (Aug 29, 2017)|
|Well, I think demonetization has offered new clothes to corruption because now since digital money is getting promoted everywhere, it is getting easy for the officers to take a bribe in an all new digital way. I know there is a chance of getting caught in this too, but the risk factor becomes less as compared to take denominations physically.|
|Mrinmoy Malakar said: (Aug 28, 2017)|
|I think this is good decision to ban 500, 1000 notes. At least 30% of a black money is surrendered. But also think that this move by Modi ji doesn't reduce the corruption. If gov want to reduce the corruption then gov should apply some rule and regulation. Like in bank sector corruption is less. Why ? Because there is no way to do corruption. Everything is computerized. Every data is open. So I think in other departments also gov should apply some strict rule and regulation. In China, if the roads are damage in between 3 years from the road constructed time. The builder should repair the road by his own money. If he didn't do that then his license will be canceled. So he will definitely build it at least lasting for 3 years. But in India, you Know.
|Rabbani said: (Aug 27, 2017)|
|Black money is at political leaders but no politician has been come out for about ban of this notes (500, 1000) because they all exchanged their before banning notes and remaining people suffers and the political drama continues.|
|Anuradha Tomar said: (Aug 26, 2017)|
|For changing the old rs-500 and rs-1000notes we had a need to deposit that money in our account so that we'll get the new currency balance. But it was not a good thing as everyone needed to go the bank and submit the money those who didn't have the accounts, needed to urgently create the account which was a really unmanageable task for banks as well as common peoples and another issue was with the limit for the money exchange. Though the whole currency change procedure was for good purpose it just created problems for the common people and can't reach to its goal accordingly.|
|Kavya said: (Aug 26, 2017)|
|Hello everyone, the ban on 500 and 1000 notes is popularly known as PM Modi's surgical strike against the black money. Corruption is carried out mainly through cash because You can't pay bribe to a government official by cheque, bank transfer or by credit card and thus by banning 500 and 1000 rupees notes promised to get back illegal and black money and promised to provide justice to the citizens of India but point to be noted here is that it has not become so efficient way of reducing the corruption and it also mainly caused inconvenience to the common people rather than the corrupted people and also the government has not given the proper picture of after effects of the demonetization about how much black money has been collected etc.|
|Vijay said: (Aug 25, 2017)|
This is very good decision to prevent the corruption. But there should not have been a 2000 note. Because of this more money is can storage in a minimum note. If we have a corruption free India then go through cashless and for going to cashless then minimum amount of note used in currency.
No any type of chip in the 2000 note this is the only rumor.
|Manav said: (Aug 25, 2017)|
The ratio of demonetisation in good taste is very lower than bad impact the main purpose of this ban 500 and 1000 notes is to remove black money from the our nation and after demonetised the total pr of removing black money from our country is less than 20 to 30 percent and 70 percent black money holder has safe the poor or middle-class people were in trouble the political parties and political leaders were safe no one have been exposed why we still haven't any answer of this question?
|Shiva said: (Aug 25, 2017)|
|Corruption is one of a major issue in India, the government is trying to reduce it by implementing new policy again and again but what happens nothing changes because the executors are themselves corrupted.
Many ruling and opposition leaders have assets of crore, so please catch them instead of creating troubles for common peoples (especially villagers).
What happens even after demonetization, tell us about that, how much increase in GDP, how much black money demolished. What you will tell we suffer for nothing. And now GST again new trouble for us.
At last, I think it is just changing clothes because corruption blows in every corner of India and it will continue to persist with a new currency.
|Pratiksha Datir said: (Aug 24, 2017)|
|Ban 500, 1000 notes uprooted the corruption because Modi takes a strict action for removed the black money from the market. After 500 and 1000 Rs. Notes get banned 2000 notes comes which contain a chip. And we can track if notes are being collected at 1 place for more than sufficient days. So that the corruption gets reduced.|
|Bala said: (Aug 24, 2017)|
|Good morning to all.
In my opinion, corruption is uprooted average level but not fully. By banning 500 and 1000 notes many people surrendered their black money to government. But some people kept their money in Swiss what about those money, they were escaped from demonetization. Only advantage of demonetization is digital payments increased.
|Biswa Abitt said: (Aug 23, 2017)|
|I really salute a great step. PM Modi has done great work. After, that our country's economy has increased, some one says that government should be declared this step before doing this, yes it took some problems when it declared but if we take any big decision then some problems could be held, but it is manageable, but if the government unable to provide this benefit of our society then as we can say the corruption just changing a new clothes, because without society benefit we can't say this step are complete.|
|Shaan Hada said: (Aug 23, 2017)|
In my opinion, our PM had taken a very important step towards uprooting corruption but as you know India is a very large country and it is not easy to get away such problems by taking one decision. It is just a starting step which is very useful & I really appreciate that atleast someone gave their thoughts towards this direction & now on we also have the responsibilities to uprooting corruption in our country. Citizens have to be alert that "neither to offer bribe anyone nor to receive Money under the table" & if you see some kind of activity in any government organisationor anywhere nearby you, please inform the respective head of that department or police about that. This is the best way to throw out this disease from our society,
|Munish said: (Aug 23, 2017)|
The initiative taken by Modi Ji on 8th of November 2016 was a good step for eradicating corruption, or reduce the black money to huge level in nightmare only. As there was no Pre-planing done for this that what should be the consequenes of this on people of poor & middle order. It should be the responsibilty of our PM to discuss everything with the RBI officials & should print the New notes in excess but confidentially, even without discussing anything with their party members because although this proved to be benificial upto just 2 to 3%, because only those who don't have high approach are treated as defaulters on the other hand the fact is that the India total income are just in the hand of 1% of total population these are high level persons or in some way connected with the political parties even they are exchanging their notes beyond the mentioned limit for a week, and also withdrawing more money than the limit decided by the govt at that time. They all changed their notes before the mentioned last date to change the notes, so in my opinion their is no profit of doing demonetization as the black money holders changed their old black holdings with new ones, It should not have implemented as this without curing the curse has proven deadly for many poor people who have no fault in all this, they loose their lives standing in long ques, one with approaches changed their notes with great ease sitting in Ac rooms.
Also the introduction of 2000 notes is totally a medium to increase the corruption to more level as if earlier only 20 lakh can be carried in suitcase now 20 crore can be carried in the same suitcase. There is no such rays in these notes (2000) saying all these nonsense stuff that these can be traced by using equipment are nothing but a way of making fool of people.
|Saismruti said: (Aug 22, 2017)|
|In my opinion, corruption uprooted for a certain time when it was decided to ban the notes & some of them who have kept black money were known but did really govt has taken some steps against them. So I want to say that govt has simply changing clothes by making several decisions but not actually doing anything against that.|
|Sahira said: (Aug 22, 2017)|
According to me, demonetization was one of the steps taken by the government to reduce or remove corruption from India. And up to some extent government got success in it. But it seems very difficult to remove corruption from the roots of India.
After demonetization, a lot of black money was collected which could help in the growth of the economy. So, we can't say that it was just changing clothes.
On the other hand, corruption is deep rooted evil and to remove this evil, our government needs to take more actions than changing currency.
At last, demonetization was a necessary but not sufficient step to remove corruption.
|Jayakumar said: (Aug 22, 2017)|
In our country, the ban of 500, 1000 is best decision by our P.M.Modi had more best ideas kept in his mind for our great future development India. In my view, it's a great work. It will be changed corrupted India to non-corrupted India. Last but not least great things happen suddenly.
|Harish said: (Aug 22, 2017)|
In my opinion, the ban of the 500 and 1000 good for the nation. Because India has a lot of block money in swiss. By this black money, the development speed of India reduces. By the ban of 500 and 1000, we might stop some block money and take back to the country.
|Atharva Jain said: (Aug 21, 2017)|
In my opinion, the banning of notes was useful as at least all the black money till now has finished. After some years when the black money will again generate the government would again demonetize it. Demonetization was a big step for India and I have no problem if the government does.
|Vijayalakshmi said: (Aug 21, 2017)|
|The government didn't took any action on those who involved in correption. So what is the benefit of this scheme? What certain is that corruption does not happen anymore.|
Ban 500, 1000 notes - Corruption Uprooted or just changing clothes!
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