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

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.

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.

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.

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.

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.

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.

Hello everyone,

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.

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.

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.

Hello.

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.

Thank you.