Good for the people in long run When P.M promised war on black money, he promised Rs15 Lakhs in every account .Has he promised any concrete outcome? It may be that terrorist using fake currency may be subdued for some time. People who are gloating over long term benefits, without any idea of real outcomes. None has specified any benefits, only speculating, hopefully about general good in the near distant future. All those who are depositing cash are black money hoarders.? Black money is generally stored in bullion's, jewelry, participatory notes, property, shares, foreign currency. At the moment it is trouble for every one to stand in Q`s ,long hours, be saddled with Rs 2000= notes, which cannot be exchanged for want of change,, Rationing our own money about how much we can draw per week, looks like Indians are under some sort of emergency. famine,bank crash. Money from banks flows to industrialists and who do not pay back and are considered as non performing assets and bad loans, where as ordinary citizens ,who default are treated harshly for pety amounts, Now more money is available for distributions. F.M had said that Rs 70.000crores to finance banks for next 4 years. Bad debts are to the tune of 1.35 lakh crores and banks need finances to propel growth .Reprinting of currency notes to peak performance will take months , In the mean time poor are suffering due to loss of employment, wages, daily employment, even dying on waiting in lines, which is being dismissed as gimmick and marginally, The ATM`s are non functional to a very large extent needing recalibration., The elections are real reasons that will take a direct hit, since elections are money guzzling exercise linked to winning
Money stashed in foreign banks is too distant goal most unattainable and practically abandoned The politicians and elections are the greatest generators of black money and contributions from builders, industrialist, etc are all black money pumped into elections, All the parties are not willing to come under RTI , nor declare income below Rs 20.000= Black money is connected with under valuing sales of properties, goods produced and distributed without records hoarding and profiteering, dispensing of Govt services, , tenders for various developments work which are grossly overvalued to sip hon into the coffers of political parties The business political parties nexus is generating enormous amount of black money .How many properties over 10 Lakhs are under scrutiny and taken over to serve as deterrents? Sale of Govt jobs are creating enormous illegal wealth too. Delay of projects lead to cost escalations, Common people cannot fathom the macro impact of demonetization's for it is beyond our comprehensions of impact on economy and benefits The taxes are forcing honest people to resort to concealment. The MLA`s , M.P`s are entitled to 30 lakhs of tax free income under preferable classifications where as ordinary citizens have to include other income and not allowed the largess to politicians as various allowances and free travel and medical benefits. The tax limits have not reflected the real living index The knee jerk reactions of daily announcements of changes is clear indication of muddled scheme hitting the poor of the poorest The tourists are hard hit too .Celebrations of traditional festivals and occasions are held hostage to Govt controls, Your money spending, withdrawals are controlled by Govt as if it is Govt grants and we are made to be looked as cheats Nelson Lopes Chinchinim
