Discussion on Farmers issues in India

[bharathh]

1 hour ago, Khota said:

Did you not see several shops close in Delhi last week? Any disruption slows the economy down.

?

 

How does this tie to the phasing out of the 2000 Rs note? As I said earlier it is still legal tender. Did the shopkeepers tell you they are closing down because of the note because there is nothing in the news about it. 

 

Maybe you should advise them to deposit the notes in the bank or exchange it as it is and will continue to be legal tender. 

Edited May 22, 2023 by bharathh

[bharathh]

47 minutes ago, coffee_rules said:

In my recent trip , noticed that Indians hardly use cash, you buy, you scan and pay, even small mom n pop stores, vegetable vendors and street food . 

It's true. 

 

I rarely have cash in my wallet. In major cities you don't need cash for any transactions. The only time I've used cash is when I go camping/trekking as I'm not sure of the data connectivity in some areas. I did have to use it in Leh and Kashmir though due to the connectivity issues. 

 

Still, 2000 Rs notes hardly have any significance today except for hoarders.

 

Even foreign tourists can avail of this feature. 

 

 

Edited May 22, 2023 by bharathh

[LordPrabhzy]

All major economies are predominately cashless with digital payments but when India wants to go into the that direction some people have khujli in their butthole. The more you make the push less irrelevant the informal economy becomes. Its a phsyche change which's required to force people to make that switch- the more people in the formal economy, more money in the system, more money the Gov has to spend on development and due to the rule of volumes, more money in the system then maybe taxes can come down to balance the numbers. In a recent trip to delhi after many years 95% of my transactions were digital..

 

And anything that prevents political parties to use cash to buy their votes, or finance anti national activities I am behind it 200%

[Singh bling]

2 hours ago, coffee_rules said:

In my recent trip , noticed that Indians hardly use cash, you buy, you scan and pay, even small mom n pop stores, vegetable vendors and street food . 

Cash is still king, with currency in circulation touching a new high in October

https://www.businesstoday.in/magazine/economy/story/cash-is-still-king-with-currency-in-circulation-touching-a-new-high-in-october-354200-2022-11-25

 

[Lone Wolf]

Well Demonetization was a big a** failure as it did pushed Indian economy backwards....  But rn that 2000 note is not in general circulation anymore.  They should look to bring back 1000 note in some capacity though. 

Digital currency taking over is a myth as rural areas still depend on cash.  Unless you enter in some model village of some sort.  

[bharathh]

49 minutes ago, Singh bling said:

Cash is still king, with currency in circulation touching a new high in October

https://www.businesstoday.in/magazine/economy/story/cash-is-still-king-with-currency-in-circulation-touching-a-new-high-in-october-354200-2022-11-25

 

You ought to read the article you copy paste - not just read the headline

 

[bharathh]

14 minutes ago, Lone Wolf said:

Well Demonetization was a big a** failure as it did pushed Indian economy backwards....  But rn that 2000 note is not in general circulation anymore.  They should look to bring back 1000 note in some capacity though. 

Digital currency taking over is a myth as rural areas still depend on cash.  Unless you enter in some model village of some sort.  

 

Not really. For the BJP it was a huge success as Cong, SP, BSP etc. were routed in the UP elections and are still scrambling. Now with the 2k ban it will impact them even more. Can't buy votes so easily anymore. 

 

As data penetration keeps increasing - dependence on cash will keep going down. Lots of industries are still unorganized and informal. As they start getting included into the formal economy going forward the economy will be more cashless 

[Lone Wolf]

3 minutes ago, bharathh said:

 

Not really. For the BJP it was a huge success as Cong, SP, BSP etc. were routed in the UP elections and are still scrambling. Now with the 2k ban it will impact them even more. Can't buy votes so easily anymore. 

 

As data penetration keeps increasing - dependence on cash will keep going down. Lots of industries are still unorganized and informal. As they start getting included into the formal economy going forward the economy will be more cashless 

I agree as India grows & slowly becomes stronger economically & living standards improve we are anyways going to reap rewards of data penetration in rural India.  It is/was always a predicted conclusion 

 

Coming to election POV that's such a BJP thing to do...  Prioritizing election over all important Indian economy that suffered such a huge slump...  And almost put brakes on its rapid speed & momentum it gathered.  A treason in itself.  Braindead move all around. 

[bharathh]

38 minutes ago, Lone Wolf said:

I agree as India grows & slowly becomes stronger economically & living standards improve we are anyways going to reap rewards of data penetration in rural India.  It is/was always a predicted conclusion 

 

Coming to election POV that's such a BJP thing to do...  Prioritizing election over all important Indian economy that suffered such a huge slump...  And almost put brakes on its rapid speed & momentum it gathered.  A treason in itself.  Braindead move all around. 

The Indian economy is much stronger for having wrecked the informal economy. 

[Khota]

3 hours ago, bharathh said:

?

 

How does this tie to the phasing out of the 2000 Rs note? As I said earlier it is still legal tender. Did the shopkeepers tell you they are closing down because of the note because there is nothing in the news about it. 

 

Maybe you should advise them to deposit the notes in the bank or exchange it as it is and will continue to be legal tender. 

They don't tell you but clothes and jewelry are cash transactions. They don't know how to react.

[Lone Wolf]

2 hours ago, bharathh said:

The Indian economy is much stronger for having wrecked the informal economy. 

Kuch bhi...  Another Party> Nation post. 

 Aravind Subramaniam then Chief Economic Advicer described that it was a draconian move also that it cost the Indian economy 2-3% of gdp growth. That is about Rs. 4,00,000 crores.

The first 6 months GDP projection was at 7.2% that year & it fell to 4.9% after that. 

Even BJP leaders don't come forward to justify it anymore man.  India lost fastest growing economy tag there & then 

@Khota bhai can u believe this guy? 

[Lone Wolf]

The lengths some of these guys go to defend their beloved party when even their party folks don't bother talking about those blunders...  Bhai undying fealty @khadekhademaaro

[bharathh]

5 hours ago, Khota said:

They don't tell you but clothes and jewelry are cash transactions. They don't know how to react.

Apparently jewelry shops are seeing a surge of transactions so you are talking nonsense as usual

 

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.hindustantimes.com/india-news/demand-for-bullion-jumps-in-lucknow-patna-and-jaipur-as-people-offload-rs-2-000-banknotes-for-gold-and-silver-101684695669943-amp.html&ved=2ahUKEwjxqruagIr_AhVI-jgGHTyiD8QQFnoECBEQAQ&usg=AOvVaw29RyRrk35BiawaNkkskDBy

 

 

[bharathh]

4 hours ago, Lone Wolf said:

Kuch bhi...  Another Party> Nation post. 

 Aravind Subramaniam then Chief Economic Advicer described that it was a draconian move also that it cost the Indian economy 2-3% of gdp growth. That is about Rs. 4,00,000 crores.

The first 6 months GDP projection was at 7.2% that year & it fell to 4.9% after that. 

Even BJP leaders don't come forward to justify it anymore man.  India lost fastest growing economy tag there & then 

@Khota bhai can u believe this guy? 

 

I don't see everything from a party lens. I think I have made my stand viz BJP earlier. Yet you keep harping about me being a party member. 

 

Btw source for numbers pls. 

[bharathh]

4 hours ago, Lone Wolf said:

Kuch bhi...  Another Party> Nation post. 

 Aravind Subramaniam then Chief Economic Advicer described that it was a draconian move also that it cost the Indian economy 2-3% of gdp growth. That is about Rs. 4,00,000 crores.

The first 6 months GDP projection was at 7.2% that year & it fell to 4.9% after that. 

Even BJP leaders don't come forward to justify it anymore man.  India lost fastest growing economy tag there & then 

@Khota bhai can u believe this guy? 

 

Noone disputes that the economy didn't grow as fast it did previously. However, at that point the shadow economy was as big as the formal economy. That has changed completely since. Digitisation has become the norm across much of India with increases in inclusion of the banking sector among all. The economy has rebounded since and we weathered Covid well to become the 5th (soon to be 3rd) biggest economy in the world. There were many other issues around counterfeiting and security (including other positive effects such as a huge fall in stone pelting in Kashmir to a fall in human trafficking (Kailesh Satyarti)). However, over time this would have fading effects. The 2000 note withdrawal should have similar effects. Cash usage should be minimized and demo (IMO) helped India take huge steps towards that. 

 

Since you quoted Arvind S, you should read what your party mascot had to say about his statements on Demo when his book was launched.

 

 

[khadekhademaaro]

6 hours ago, Lone Wolf said:

The lengths some of these guys go to defend their beloved party when even their party folks don't bother talking about those blunders...  Bhai undying fealty @khadekhademaaro

inka ghar bhi barbad karenge ek din yeh. tab inko akal aayegi

 

 

Edited May 23, 2023 by khadekhademaaro

[Khota]

6 hours ago, Lone Wolf said:

Kuch bhi...  Another Party> Nation post. 

 Aravind Subramaniam then Chief Economic Advicer described that it was a draconian move also that it cost the Indian economy 2-3% of gdp growth. That is about Rs. 4,00,000 crores.

The first 6 months GDP projection was at 7.2% that year & it fell to 4.9% after that. 

Even BJP leaders don't come forward to justify it anymore man.  India lost fastest growing economy tag there & then 

@Khota bhai can u believe this guy? 

When someone has blind loyalty to a party, they betray their country. For anyone to claim demonetization did not hurt Indian economy last time is either a fool or a liar or maybe both. Not to mention so many poor people died because of that.

[Khota]

Kiss the ring party.

 

[Khota]

45 minutes ago, khadekhademaaro said:

inka ghar bhi barbad karenge ek din yeh. tab inko akal aayegi

 

 

in moorkh aadmiyon ko tabh bhi akal nahi ayegi.

[Khota]

2 hours ago, bharathh said:

 

Noone disputes that the economy didn't grow as fast it did previously. However, at that point the shadow economy was as big as the formal economy. That has changed completely since. Digitisation has become the norm across much of India with increases in inclusion of the banking sector among all. The economy has rebounded since and we weathered Covid well to become the 5th (soon to be 3rd) biggest economy in the world. There were many other issues around counterfeiting and security (including other positive effects such as a huge fall in stone pelting in Kashmir to a fall in human trafficking (Kailesh Satyarti)). However, over time this would have fading effects. The 2000 note withdrawal should have similar effects. Cash usage should be minimized and demo (IMO) helped India take huge steps towards that. 

 

Since you quoted Arvind S, you should read what your party mascot had to say about his statements on Demo when his book was launched.

 

 

Digitization of economy would have happened with or without demonetization. 

 

Rooster taking credit for dawn.