mishra Posted December 19, 2016 Posted December 19, 2016 1 hour ago, BeautifulGame said: Government's mistake . Lot of places particularly in rural areas there is virtually no 100s or even new 500s even in the banks .So the only option is to accept these old currencies or stop doing business. What u want to them to do ? Lose their business and let their stocks rot and go bankrupt ? What do u want a fisherman to do ? Accept old currency or let his fishes rot and his family starve .These are practical realities . What most people were doing is what is logical to survive and by trusting the government on its word .Now it is screwing them by going back on its word. If Government suspects black money then they can audit their accounts . But government is doing is punishing honest people to cover their own incompetent mistakes. Do you live in a rural area? or googled it?
BeautifulGame Posted December 19, 2016 Posted December 19, 2016 Do you live in a rural area? or googled it? I worked in a rural Bank for 3 years and yeah my hometown is rural area .So yeah I am not making up or googling stuff lol . Either way it's a moot point really.I think most would have experienced this even if u are in a metro city. You have to be realistic .They don't want to lose business and they aren't afraid of IT stuff because their income isn't that much . The problem is the govt is keep changing their rules and regulations and that is only making the situation bad and creating serious confusion and mess Look I want this demonetization to succeed just as most others but Govt should have thought through it completely before announcing it imo.They are clearly panicking because these black money hoarders are keep finding loopholes and in that desperation to address it Govt is actually hurting regular people .
mishra Posted December 19, 2016 Posted December 19, 2016 ^ Ok , My quality of my written English would have given you hint that I am village educated and I also own the farming land. Not too much but still significant enough to not be able to cultivate without hire workers. We have Union bank (no one had any account except few government employees and family members) which has 3 km away from our village. There are three SBI banks branches which are around about 16 km aerial distance from my village in three different directions. This year, we are struggling workers to work on farm as my parents think paying workers per day in kind(Rice,Wheat, lentils) is expensive and they havent got cash to pay. They are retired pensioners and need regular medication. i.e I am worried about medical emergency. So I know exactly what every villager in my village is facing as I know each of them by family names. Scrutinizing/Criticizing demonetization and its implementation is fine but do understand that GOI is attempting to deal with corruption among morally bankrupt society. You do know that situation is so bad that if a lawenforcer or anyone in a position of exploitation, isnt exploiting the system then not just social circle but even his\her parents , wife and kids consider him a chewtiya for not doing so. Modi is also being considered same Chewtiya even by BJPites. Forget the opposition. Just yesterday Rajnath Singh was crying fould over various RBI notifications in Sikkiim. Someone has rightly wrote. Bas ek hi ullu kaafi hai barbaad gulistan karne ko har shaakh pe ullu baitha hai anjaame gulistan kya hoga(Only one owl is sufficient to ruin a gardenwhen there is a owl at every branch God only knows the fate of garden)
Singh bling Posted December 19, 2016 Posted December 19, 2016 43 minutes ago, mishra said: ^ Ok , My quality of my written English would have given you hint that I am village educated and I also own the farming land. Not too much but still significant enough to not be able to cultivate without hire workers. We have Union bank (no one had any account except few government employees and family members) which has 3 km away from our village. There are three SBI banks branches which are around about 16 km aerial distance from my village in three different directions. This year, we are struggling workers to work on farm as my parents think paying workers per day in kind(Rice,Wheat, lentils) is expensive and they havent got cash to pay. They are retired pensioners and need regular medication. i.e I am worried about medical emergency. So I know exactly what every villager in my village is facing as I know each of them by family names. Scrutinizing/Criticizing demonetization and its implementation is fine but do understand that GOI is attempting to deal with corruption among morally bankrupt society. You do know that situation is so bad that if a lawenforcer or anyone in a position of exploitation, isnt exploiting the system then not just social circle but even his\her parents , wife and kids consider him a chewtiya for not doing so. Modi is also being considered same Chewtiya even by BJPites. Forget the opposition. Just yesterday Rajnath Singh was crying fould over various RBI notifications in Sikkiim. Someone has rightly wrote. Bas ek hi ullu kaafi hai barbaad gulistan karne ko har shaakh pe ullu baitha hai anjaame gulistan kya hoga(Only one owl is sufficient to ruin a gardenwhen there is a owl at every branch God only knows the fate of garden) Did you remember Chidambram in 2005 introduced Cash withdrawal tax on amount of 10000 at 0.1% .He was so severly opposed by opposition particularly by BJP. His argument too was that the move will fight Black money , but unfortunately he did not have following to back his move.So Congress kare to attack on freedom BJP,Modi kare to fight against corruption. Anyway a stable democratic country has 1 very main thing and that is trust in Govt.Unfortunately this Govt has broken all the trust.Now whatever Govt say people don't trust.There was already rumour that from 15 dec banks will not accept old notes so from now onwards we are in country ruled by rumours and perception is " Modi kuchch bhee kar sakta hai" many poor people who have trusted govt and put their money in bank will now withdraw it and may even keep currency or gold as they lack trust on Govt Even If I beleive that Modi's intention was good , he did nothing to stop suffering of people , nothing for job losses etc.His sole intention was not to fight corruption but at all cost to make this move successful .This type of attitude is is found in dictators and not in democratic rulers
Singh bling Posted December 19, 2016 Posted December 19, 2016 (edited) Quote Potatoes in Cold Storage Have Started Rotting After Note Ban: FCSAI http://www.news18.com/news/india/potatoes-in-cold-storage-have-started-rotting-following-demonetisation-fcsai-1324456.html Quote Demonetisation brings manufacturing to a halt http://timesofindia.indiatimes.com/city/hyderabad/demonetisation-brings-manufacturing-to-a-halt/articleshow/56057205.cms?from=mdr Quote Watch: In Aligarh, where three out of four Indian locks are made, 90% of factories have shut down http://video.scroll.in/824500/watch-in-aligarh-where-three-out-of-four-indian-locks-are-made-90-of-factories-have-shut-down Can anybody tell me when was last time news of such terrible destruction Indian economy or job losses came Edited December 19, 2016 by Singh bling
Singh bling Posted December 19, 2016 Posted December 19, 2016 Quote The Costs of Demonetisation: Industrial Workers Suffer in Delhi and Punjab; Money Ban Cannot Be Questioned Industrial workers suffer in Delhi and Punjab Prime Minister Narendra Modi’s 50-day deadline for a return to normalcy post demonetisation is fast approaching, but the economy is far from returning to normal. Industry is coming to a standstill. More than 1,800 factories in Mayapuri Industrial Area in West Delhi have come to a halt, the Indian Express reported. Meanwhile, in Amritsar, nearly 30 textile processing units have shut down, according to the Hindu. https://thewire.in/87977/costs-demonetisation-industry-death/
Tibarn Posted December 19, 2016 Posted December 19, 2016 12 hours ago, CG said: http://www.livemint.com/Politics/p9VrQTy6jY4Cs4H6CqpbZO/Note-ban-breaks-the-backbone-of-Rs20-trillion-trafficking-in.html Great news. I wonder if there were effects on the drug trade.
surajmal Posted December 19, 2016 Posted December 19, 2016 Whoever doesn't like this move is either a luddite or corrupt. India doesn't lack in either department, so Namo has played a big gamble. I wish him the best. Laaloo 1
mishra Posted December 19, 2016 Posted December 19, 2016 ^ I was just watching "Cashless express" on ABP news. Every decent sized shop/restaurant journos visited had no facility of cashless transaction while some small shop had paytm/card facility.
mishra Posted December 19, 2016 Posted December 19, 2016 2 hours ago, Singh bling said: Did you remember Chidambram in 2005 introduced Cash withdrawal tax on amount of 10000 at 0.1% .He was so severly opposed by opposition particularly by BJP. His argument too was that the move will fight Black money , but unfortunately he did not have following to back his move.So Congress kare to attack on freedom BJP,Modi kare to fight against corruption. Anyway a stable democratic country has 1 very main thing and that is trust in Govt.Unfortunately this Govt has broken all the trust.Now whatever Govt say people don't trust.There was already rumour that from 15 dec banks will not accept old notes so from now onwards we are in country ruled by rumours and perception is " Modi kuchch bhee kar sakta hai" many poor people who have trusted govt and put their money in bank will now withdraw it and may even keep currency or gold as they lack trust on Govt Even If I beleive that Modi's intention was good , he did nothing to stop suffering of people , nothing for job losses etc.His sole intention was not to fight corruption but at all cost to make this move successful .This type of attitude is is found in dictators and not in democratic rulers No, you seems very upset with Modi. BTW your example above is just another taxation measure on people with white money
Singh bling Posted December 19, 2016 Posted December 19, 2016 23 minutes ago, mishra said: No, you seems very upset with Modi. BTW your example above is just another taxation measure on people with white money Not just me but plenty of Indians , BTW just go to group Demonetization-2016 on facebook. It was created on 9 december but now it has reached 20k members , never ever saw a group growing so rapidly on FB.Modi haters who had previous gridge against him are now in upbeat mood , the only argiument left now wait and have faith on Modi, but day by day hopes are dwindling
Singh bling Posted December 19, 2016 Posted December 19, 2016 Quote Aditya Sinha: India, the world's laughing stock Actually, there has been zero global endorsement of demonetisation. Even the author of a book about the need for countries to go cashless — former International Monetary Fund (IMF) economist Kenneth Rogoff published The Curse of Cash earlier this year in which he blamed high-value currency for existing solely to finance all manner of illegal activity — wrote last month about how misguided Modi’s demonetisation drive was. Rogoff’s prescription had been that high-value currency like the USD 100 bill be gradually phased out over the course of years (he said just stop printing it instead of demonetising it); he did not prescribe this for developing countries. Modi broke both rules, so it is no wonder things have spiralled out of control. Former US Treasury Secretary (their finance minister) Lawrence Summers has warned other countries not to repeat Modi’s blunders. The Harvard Business Review this week said demonetisation was a case of “poor policy and poorer execution”. Others remain politely and discreetly silent, but the fact remains: Modi has turned India into the planet’s laughing stock. http://www.mid-day.com/articles/aditya-sinha-india-the-worlds-laughing-stock/17842152
Tibarn Posted December 19, 2016 Posted December 19, 2016 (edited) Who are these people that speak on behalf of the world. Rest assured, few non-Indian people in the world care about what happens in India, especially related to demonetization. I doubt most people in the world care little about India, and they hardly know anything that goes on there. What makes them think anyone in the current government cares at all about Professor Rogoff and his book? The Center's plan is based on the Artha-Kranti plan, so who cares about Rogoff's plan? The plan has also gotten plenty of endorsements from some economists. Quote Others remain politely and discreetly silent, but the fact remains: Modi has turned India into the planet’s laughing stock. This Aditya Sinha clown doesn't seem to know what a fact is. This jack*ss has the majority of his articles about Bollywood/gossip and the chews at mid-day have him write on Economics Edited December 19, 2016 by Tibarn
surajmal Posted December 19, 2016 Posted December 19, 2016 Namo hasnt even got going yet. With Benami Law passed, shit is about to hit the fan in the coming year. And if people doubt his intentions, they have another thing coming. He already bit the bullet with demonetization. Its aar ya paar now. He may not win the upcoming state elections, but with the growth rate hitting 10% in 2018-2019, and inflation at an all time low, it will be a total wipeout of the oppostion in 2019.
kosingh Posted December 20, 2016 Posted December 20, 2016 Time to ask people to sing national anthem if they want withdraw more than 2000 rupees.
tweaker Posted December 20, 2016 Author Posted December 20, 2016 The ED has written to about 100 cooperative bank branches across the country seeking details about activities in their dormant accounts and other suspicious transactions as part of its anti-black money probe post demonstration.
Singh bling Posted December 20, 2016 Posted December 20, 2016 Quote Varanasi shows how Modi's demonetisation gamble has broken the back of India's $1-trillion hidden economy Read more at:http://economictimes.indiatimes.com/articleshow/56077715.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
mishra Posted December 20, 2016 Posted December 20, 2016 http://www.news18.com/news/politics/bjps-chandigarh-municipal-poll-win-a-boost-before-punjab-election-1325442.html Quote Chandigarh: Kirron Kher has smiled often during her years in acting, but none of that could have matched the look on her face on Tuesday when the results of the Chandigarh Municipal Corporation elections came in. “I am so happy,” a beaming Kher told CNN-News18 after the BJP-SAD alliance bagged 21 out of 26 seats. Looks like Digimonetisation is at least not that bad in a Punjabi city.
Recommended Posts