Ban 500, 1000 notes - Corruption Uprooted or just changing clothes!

Hello everybody,

In my opinion, on one hand, Demonetization has partially uprooted the corruption. And as to develop any country, some decisions must be taken by the government that may not please you always but may correct the things by giving little discomfort to you. So did this "Demonetization". Up to an extent it unveiled many people's black money and still counting.

And on the other hand, in recent Lok Sabha meet when Rahul Gandhi asked Modiji about 1600 times profit made by Amit Shas"s son, Modiji was speechless. Because their own parties candidates are corrupted. So if these politicians are just doing all this for the sake of politics and their party winning the elections then it's no less than merely changing clothes.

At first, good morning all friends. This is very good topics for ours. I think it is a very good decision of prime minister. All old 500&1000 Rs note are removed from our country which removes all black money. Many politicians, businessman, serviceman whose are save their black money in the bank and no paid their tax, this all remove from our country. In this result, develop our country for economically and also strong economical. Although it is bad effects for poor farmer, hawkers and small shopman which are paid their tax and it will be loss for our Indian economical. But it is the same decision for me. As a result, to loss our economical problem and save our country from economical corruption. That's all. Thank for all.

Ban of 500, 1000 rupees notes is jus a first step in uprooting corruption. Because people who make black money will surely have ways to. Convert it to white money. It's just like freedom struggle where freedom fighters fought for the freedom of our country from British people. Except now it's against corruption. Yes, there'll be consequences in short terms. But in the long run, we can make India less corrupted. To uproot the corruption it should start from the largest population in our country. i.e. The common man. Mr prime minister has initiated this movement by demonitisation but the common people who unanimously elected him must support his cause. This is a cause for a better India hence it is always uprooting corruption.

The Intention behind demonetization was to curb parallel economy due to black money which has been running from very long time due to which there was a heavy burden on tax payers. After this decision people sitting on piles of black money had no other options to keep those notes with them. Though not entire black money has been controlled this has created a sense of fear among the black money holders that in future too such decisions can be taken. Talking about middle class and daily wages workers even they have to pay indirect tax such as on food items which is a compensation against non tax payers and due to this move the cess charged will be reduced which will be a relief to both middle-class and poor people in long run.

In my point of view, banning 500- 1000 rs notes is a good step to uproot the corruption but the government had not taken strict action. Bank officer also dishonest. They help the rich persons to exchange their black money into white money. Poor and middle-class persons suffer a lot in exchange for their hard work money by standing the whole day in a long queue.

I think only one advantage was there,

1. A small reduction in corruption.
2. And the introduction of the digital payment system.

Govt had not taken this step at a proper time.

If Modi Ji wants to do this, the first govt must have to print a plenty of new notes by that people had not to face these problems.

So, banning 500- 1000 notes was just changing clothes.

In my point of view, banning 500, 1000 notes was a thoughtful decision taken by our honourable PM as it has helped in eradication of corruption from our country. All illegal money holders have to empty their pockets. Lot of black money came out. As India is a developing country demonetization has proven to be a great step for boosting India's economy. On the other hand it has a great impact on lower and middle class. Poor people faced various problems. Sometimes it seems like demonetization was to annoy common man. But this was very effective and thoughtful step for uplifting India's economic condition. So in my view, demonetization was one of the most important steps taken by PM and it has helped in uprooting corruption.

I was listening to a debate once. The member of opposition said that out of all the Black Money that exists in India, only 4% of it is in cash. The rest of it is in gold, property and in foreign banks.

After the noteban out of the total 15 lac crore in 500-1000 notes that existed atleast 30% of that was considered to be black money which was amounted to be 4 lac crore. After the end of the 50 day period, almost 14 lac crore rupees were recovered by the government.

This clearly states that a large amount of money expected to be recovered as black money was deposited as white money. Hence the money was laundered by the black money holders.

Hence I would say that corruption isn't uprooted but it is just changing clothes.

Hi.

According to me, Banning of 500 and 1000 rs notes is good decision and one of the biggest step taken against corruption and black money taken in Indian history by our prime minister Modi ji. He also succeeded in it, many people have been arrested for hiding black money by the income tax department. Banning 500 and 1000 rs notes was just a first step of the whole process of stopping corruption. The corruption is not uprooted until the black money in terms of property, gold etc. Of course normal people will have to face the problem due to this. But if we normal people support the measures taken by the government by thinking that it would be better for us only the corruption can be completely uprooted from the country.

I think demonetization is changing clothes because as discussed above black money is in form of gold, real estate, foreign bank accounts and people instead of depositing old currency in bank account gives it in charity or in a temple. The only thing which is tackled by this ban is excessive use of money in hand by people hence bringing a market supply of currency equal to the demand of people. Another loophole of this step is introducing 2000 rupee note which has raised inconveneince of people to get its change. Rural people are still unaware of how to make digital payment and how to open a bank's account which should come first as duty of the goverment to make aware about it first rather than banking to curb corruption.

According to me, the step taken by our honorable PM Mr Narendra Modi must be appreciated as at least he showed the courage to come up with such a unique idea. May be there was not proper planning regarding this but it is just the beginning and slowly and steadily it will improve. Everything has its pros and cons attached to it. So, we can look at its positive aspects. It has also created a kind of terror in the mind of the fraud people that now PM can do anything. When there was shortage of money or people became cashless many people made effort to learn internet banking which is more secure and can be regarded as the step towards digital India. Remember the man who moves a mountain begins by carrying away small stones.