Demonetisation has reduced the Corruption, Black Money and Terrorism?

Demonetization was one of the foolish steps taken by the government in the complete history of India.

Speaking realistically from reports released by RBI and other economic experts demonetization only had a negative impact on the economy of India where RBI invested nearly 7000 Cr extra in the printing of new currency notes and without retrieving a single penny of black money.

It was the common people who suffered the rude behaviour of bank staffs, standing in lines for hours and some of them even losing money as they were unable to deposit money in banks.

Time and effort consumed in demonetization yielded not zero but negative results. This is the truth.

It appears there are still a huge number of ANDH BHAKTS in India.

Actually, all these posts are written by one or two persons using different names. In order to sound balanced, a few disadvantages have been listed. The reality is that demonetization devastated India and permanently crippled its economy. Poor people were the greatest sufferers.

Indian's can't see that Modi has totally destroyed India. It will take a generation to bring it back to the state where it was in 2013. Manmohan Singh elevated India to a position where India rapidly gained a huge amount of respect in the world. Books were being written on "Emerging India" But the Modi government is not concerned with INDIA. The only concern is to collect money from the poor of India and use it for election campaigns and rallies.

I'm Raj, this topic is a sensitive topic in current days we need to discuss about these kind of topics.

As a coin has 2 faces, demonetization is also having it's own pros as well as conses,

Our Respected PM Modi sir, has taken a big step towards Indian corruption, and economic growth. Of course demonetization has reduced the corruption, black money, and terrorism.

A major advantage of demonetization is that it helped the government track black money. Large sums of black money was kept hidden by tax evaders. Demonetization helped government uncover huge amount of unaccounted cash. According to estimates made by RBI, people have deposited more than rupees 3 lakh crores worth of black money in the bank accounts. This has helped the government in slowing down the plague of parallel economy.

A major reason behind demonetization was that a big part of black money was being used for funding terrorism, gambling, in inflating the price of major assets classes like real estate, gold and other social evils. Demonetization is acting as an effective countermeasure against such activities. Now all such activities will get reduced for some time and also it will take years for people to generate that amount of black money again and hence in a way it helps in putting an end this circle of people doing illegal activities to earn black money and using that black money to do more illegal activities.

Another benefit is that due to people disclosing their income by depositing money in their bank accounts government gets a good amount of tax revenue which can be used by the government towards the betterment of society by providing good infrastructure, hospitals, educational institutions, roads and many facilities for poor and needy sections of society.

When someone doing something good for our nation that's our responsibility to support him! And we should be ready to face small problems to avoid big trouble in future.

In my point of view Demonetization was a good process but didn't implement in a proper way.

PM tried to eradicate the corruption and terrorism but it wasn't successful.

Because rich peoples always find to save their black money.

But it's not totally unworthy after implementation of Demonetization most of them are started using online transactions that was totally under government sight.

We can't blame for Modi that Demonetization failed to Eradicate the corruption and terrorism. At-least we have to Appreciate his effort for taking this Big step for the sake of our country.

If it was implemented in a proper way means it should be the best thing that Modi have done.

Hello everyone.

We have the most hit topic to discuss here that is 'Demonetisation has reduced the corruption, black money and terrorism.

Demonetisation is a restriction of circulation of money and currency.

Demonetisation was implemented in 2017 by gov in which rs 500 and 1000 note was banned returned to go and that was replaced by 2000 note.

Real facts:
1. It was expected by gov that only 70% of the money will be returned to gov but approx 99 % of the money was deposited to gov. It proves that either there was no black money or somehow black money converted to white money.
2. It was expected that terror attack funding will be stopped after demonetization. But after demonetization also terror attack happened.
3. RBI which supervise the financial sector of India did not agree with demonetization decision.
4. It was expected that tax payment rate will increase,

But as per past data by economist tax payment rate is increasing yearly.

Disadvantages of demonetisation:

1. GDP growth was decreased by 2.2%.
2. Unemployment rate increased, many small and medium scale company shut down their business.
3. Terrorist funding was not stopped.
4. Some money spent on new cash printing.

In my opinion, it doesn't seem demonetization has reduced corruption, black money, terrorism by the survey.

Due to Demonetization, some people tend towards digital payment that is a positive impact. It took more time to replenish losses occurred due to demonetization.

For the financial reform, we must have to take advise from the respective financial sector that is RBI or from the economist.

Demonetisation was one of the biggest step taken by NDA government on 8 Nov 2016 headed by PM Narender Modi. PM said it will help to reduce the corruption, black money, and terrorism. But did not follow the same way. The result was totally different from the expectation. People suffered huge crisis for long time. Small and medium class businessman were unstable and closed their business. Because there was no money in the market and it was impossible for common man and purchase some items from the market. Even some marriages were cancelled. It was the most disastrous time for those people who earn and spend on a daily basis. Our economy as facing high downfall at that time. So, I think it was a rediculous step taken by our PM Modi. So finally demonetisation is not suitable for the nation whose 60 % population is below the poverty line and it does not less the corruption, black money and terrorism as RBI and other organisations reports are concerned.

Thank you guys, I hope you like my opinion.

Demonetisation , a step taken by the NDA government on 6 nov 2016 and the main idea was to flush out all the black money from the country which were circulating in the form of 500/ 1000 notes . So the biggest question arises that does it commute the corruption ,black money and terrorism ? So, acc. To me in some perspective it helped a lot in improving the scenario of the country but on the other hand it not served as expected because people had suffered by standing in a queue for several hours specially the rural areas people . When people were suffering rich ones were not worried beacuse of there eminent position . Implementation of demonetisation also gave the chance to legally convert their black money into white. The main purpose of demonetisation was not in favour due to lack of support of RBI , improper planning ,poor infrastructure etc.
RBI clarify that the they haven't received a single penny of black money . Instead they have invested 7000 cr for the printing. Though one amazing thing happened after demonetisation is that concept of cashless economy and digital transaction .

Since the NDA government has come into power, one of the unprecedent & abrupt decision was taken by our PM Narendra Modi to nullify all the old 500 & 1000 denomination notes overnight. It's been two years that the demonitisation took place. Although it's primary objective are mainly to flush out all the black money from the economy which is circulating in the form of these notes. The second objective is to stop the terrorist financing in our country. The situation arises due to this overnight withdrawal of the notes are patheti. People had to stand in the queue for a long time and theb situation prevailed even after 8 or 9 months. Due to shortage of liquidity people had to postpone many important events and they faced a lot of problems. Not only commoners but also bank employee had also executed overtime for 2 or 3 months.

All that sufferings sounds nice and would become fruitful if the black money which are circulation can be retrieved. But, the recent data revealed by RBI shows that about all the notes which had been cancelled have returned to RBI. So where all black money go?In this context, the step seemed to be extremely futile and meaningless. Moreover extra money has been spent to circulate new notes. So. This only increases monetary burden on government which in turn actually be passed over public. Does it worth it?

So, I don't think that demonetisation will bring any fruitful result through its agenda.

Demonetisation means to stop the corruption and black money that's why this step was taken but no any results have been got by this step because it's having more time in order to give good results definitely it will give benefit to people and we should support it and keep patience. And it has reduced terrorist attacks and also it was the greatest admirable step which was taken by PM Modi.

Thank you.

Good evening everyone.

First of all, we should discuss what is demonetisation?

Demonetisation is a process in which the money running the market is removed and replaced by the new currency.

IN India on 8nov 2016 prime minister Narendra Modi announced demonetisation keep in mind that it will reduce black money corruption terrisiom.

Demonetisation is not easy for the public.

It increases the unemployment rate.

People have not sufficient.

People stand in with queue of the bank for exchanging money.

It is the marriage season in India so people do have not sufficient so they face a lot of problems.