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

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.

Good evening everyone, You all might be right in your opinion and in mine too. We suffered a lot at the time of demonetization like standing in the queue for hours, many industries suffered a huge loss, GDP got down and more which already quoted.

Everyone knows that the implementation was not done in a right way. In my opinion, the implementation could have been done in a right way, if 2000 rs had not been introduced, instead, 500 and 1000 rs were introduced. This 2000 RS serves as a medium for collecting black money.

Secondly, Rising of black money could have been avoided by decentralized or blockchain technology.

What I believe that to curb corruption ban on 500 & 1000 rupees notes were useless according to Indian statistics we have only 6% of black money available in cash form. So how Modi Government had taken the foolish decision to ban the money in order to get rid of corruption.

What I think is to better the tax and transparency are available in the system, then it will be quite easier to track the money and hence we have to look for better taxation system rather then flushing out the circulating money. The consequences we are already facing such as loss in GDP, perish of small & micro business, unemployment etc.

The demonstration of the banned 500&1000 notes it is very difficult to a middle-class people and the government they govt they don't see any buddy to people to suffer the cash and many problems to face and demonstration is a correct decision but they don't to seem the black money any politicians and any business man and the very struggle for exchange of money to take banks and other ATMs so this is not correct decision n the full black money was total in India was 150000 crores but they found only they don't found and then it is worthless and struggle for people so there is no corruption and no change in India.

Demonetization was a very nice plan but it's execution was really poor.

Due to the poor execution the middle class family were badly affected. People had no money to buy commodities or to even pay their hospital bills.

Though the idea of demonetization was to uproot corruption due to the poor execution I would say it turned out to be just a change of clothes. Black money and corruption was like water dripping from a tap into a bucket. Demonetization aimed to stop the water from dripping but was able to replace the bucket. So I believe that the black money will continue to affect the growth of the Indian economy.

Friends in my opinion it would be a big success if it was well planned and well executed. Also follow on actions should be taken by the government to bring out the fruit of the demonization. Unfortunately the government failed to do so, there was less following actions to prevent fraudsters from converting their money to white. Also 4 people has to suffer a lot in converting their small savings. Big place also seem to be using this small income groups to convert their money to White and giving them a small tip. So my dear friends in my opinion it was a milestone step by the government but failed to reap its fruit.

I think it is a temporary soothing solution to a permanent problem. The tree of corruption or what we call as black money has just fallen to Modi's Tsunami/storm, but one should remember it will grow again as root is still alive. For example, the unorganized shopkeeper sells grocery and there will be no bill and so no accountability. Similarly in reality sector also, due to heavy stamp duty and all, the people will put original sale value on the same deeds. It is highly impossible to find out the gold purchases of smaller values. So, it's highly impossible to define what's be the exact definition of black money.

Demonetisation of 500 - 1000 notes by central govt is very big step in terms of fighting against the black money & corruption. But it will be beneficial for our economy if we people change our mentality & go cashless & for this government is trying to encourage us by many offers & lottery. If any government want to fight against black money & corruption, it requires step & that govt did, yes it is also changing clothes but by these, all kind or territories activities also had reduced. Now after govt its our responsibility that we should go cashless & support the vision of government.

Not ban means stripping the status of notes as a legal tender. Demonetization is like a two side of coin which one side shows it has some good reactions like transparency, tackle black money, digital economy etc. But there is some drawbacks of demonetization like it reduce the growth rate from 7.4 to 6.9. Many problems were faced by the local traders like shortage of supply and many deaths occur from demonetisation because many hospitals refuse to accept old currency note which leads to death of patients. If government really want to go cashless then government has to maintain law regarding the online frauds.

Hello reader,

In my opinion banning 500 and 1000 rupee notes is a big and bold step taken by our Prime Minister. Not Every Prime Minister could have done that if he was at same position as Modi ji was after Surgical operation decision which makes everyone of us proud. So we should not discourage by it. We all talk about the suffering which common man has to face after demonetization but we should remember the fear it has created among the Black Money holders. Yes it could have done in better away but don't you think that if it wasn't announced like that it would have the left the gate open for these looters.