Demonetisation and its Aftermath

[Party Monger]

India has a big informal economy and vast majority of small businesses and daily wage workers who sustained the country by their sweat have what is called black money.

I agree. A lot of people I know pay 50-60k to contractors every month. You'd say this is black money, but actually each this payment gets divided into the labour of 4-6 people in a house hold. They barely get by with this. This is what Mudi calls black money. We gave the guy way too much freedom to wreck the country. Still continue to do so.

India needs tofight back hard or pretty soon we will only have permanent economic ruin.

 

[psyph3r]

What ?

That's how ridiculous you sound with your assumptions.

 

[blr_p]

That's how ridiculous you sound with your assumptions.

You have no challenge though ?

only disagree

 

[psyph3r]

You have no challenge though ?

only disagree

There's nothing to challenge, even if anyone simplifies it enough for you it goes right over your head and you start going around in circles again.

 

[blr_p]

There's nothing to challenge, even if anyone simplifies it enough for you it goes right over your head and you start going around in circles again.

You cannot challenge so I will accept your resignation

I had a problem with notes ban, thanks to Mani not any more

 

[Crapmypants]

The only reason to do it is to save lives.

What about the farmers? 2012 and 2013 were drought years, 2014 was not a drought year but farmer suicides increased then and for the next 2 years. the primary cause was financial distress so much so that they did not release the 'cause' category for 2016 info.

Sounds like the opposition's view. I'm trying to source my opinions from the ruling govt. What were they thinking, they are the ones that enacted this policy

Why would the opposition say this? it would be an implicit admission of using black money. It's simple election numbers.

 

[blr_p]

What about the farmers? 2012 and 2013 were drought years, 2014 was not a drought year but farmer suicides increased then and for the next 2 years. the primary cause was financial distress so much so that they did not release the 'cause' category for 2016 info.

Save lives in the sense to take away terror funding. Its also defending the economy.

Why would the opposition say this? it would be an implicit admission of using black money. It's simple election numbers.

If some arms of the govt are seeking political mileage out of the decision then the opposition has to jump in.

If the pretext was wrong then noise generated by both is as well.

You admit that no party is clean means you semi-believe the reason.

They would be targeting themselves as well IF that were the reason so why do it in the first place.

Ask yourself why does a party on the rise need to worry about losing those 4 state elections ? does not add up

How do you explain them losing Rajathan, MP, Chattisgarh the year after and this year Jharkhand & Maha

Why did the opposition win if their funding was taken away

 

[Crapmypants]

You admit that no party is clean means you semi-believe the reason.

I don't understand how you came to that conclusion.
Are you assuming that some parties ARE clean?

They would be targeting themselves as well IF that were the reason so why do it in the first place.

Not if they had prior access to the new currency. Which they did.

Ask yourself why does a party on the rise need to worry about losing those 4 state elections ? does not add up

Again, to get maximum seats in LS.

How do you explain them losing Rajathan, MP, Chattisgarh the year after and this year Jharkhand & Maha

Why did the opposition win if their funding was taken away

Iirc, the bjp was the largest single party by vote-share in most of these states but they pissed off their local allies.

 

[blr_p]

I don't understand how you came to that conclusion.
Are you assuming that some parties ARE clean?

You said it, in this context meaning the BJP

Not if they had prior access to the new currency. Which they did.

The elections here means UP. Four months later.

Again, to get maximum seats in LS.

You mean Vidhan Sabha. Look, there is always an election around the corner. Its very simplistic to tie notes ban to whatever upcoming election is coming.

UP wanted a change. Akilesh also got a thumping win back in 2012. The people there overwhelmingly chose him over Mayawati. Same happened in 2017

Same will happen to Yogi in 2022 if he isn't seen as having delivered like Akilesh or Maya.

SP would like you to think it was notes ban that did it. They forget anti-incumbency.

BJP didn't face that in UP, SP did. So SP is the source of this conspiracy.

The BJP would win UP regardless.

Or let me put it this way, BJP wins when its workers are up to it. Otherwise they lose and badly like Delhi 2015.

They got UP right because they didn't announce who the CM would be. Yogi was appointed out of nine other competitors. Each one had their constituents and patronage networks.

Had they mentioned who the CM would be beforehand, the other nine would have worked against them and sank their chances.

The story is Yogi was getting ready to attend a conference in Singapore. Then he discovers his passport has been impounded by the govt. Why ?

They want him to attend his swearing in ceremony

Iirc, the bjp was the largest single party by vote-share in most of these states but they pissed off their local allies.

Forget vote share, what counts is seats. Congress lost the national elections in 1999 with 20 million more votes.

 

[ssslayer]

How does the counterfeit currency affect India?
One that I can think of is that the "terrorists" can buy stuff in India without expending even a real penny by using fake notes.

 

[jsmithe]

How does the counterfeit currency affect India?
One that I can think of is that the "terrorists" can buy stuff in India without expending even a real penny by using fake notes.

Unauthorized inflation that results in things getting costlier. Financial terrorism.

See https://economictimes.indiatimes.co...may-impact-inflation/articleshow/17615199.cms

 

[blr_p]

The DGP TP Sen Kumar estimates at least 10 lakh cr of counterfeit money had entered between 2004 & 2016.

He then mentions velocity. So that 10 lakh cr is times 10 and acts like 100 lakh cr

 

[Marcus Fenix]

So we are going with random assertions withouty any study or semblance of any hard proof as to the number of 10 lakh crores ?
LOL

I would trust RBI data quite a bit more than the pie in the sky guesstimate by a cop who is not affiliated with RBI whose job is to track these metrics.

RBI Data Shows Amount Of Fake Currency Insignificant

Detection of fake notes was 20% higher in FY17 but didn’t amount to much.

www.bloombergquint.com

Just how many fake notes were actually detected in India last year?

The value of fake currency in circulation at any given time is Rs 400 crore, according to a study.

scroll.in

 

[Crapmypants]

You said it, in this context meaning the BJP

I said no party is clean. How this translates to me not believing my point on demo makes no sense. Your argument is illogical.

The elections here means UP. Four months later.

How does this have any bearing on anything? No logic applied here either.

You mean Vidhan Sabha. Look, there is always an election around the corner. Its very simplistic to tie notes ban to whatever upcoming election is coming.

No I meant the LS. the state election results have a direct bearing on LS seats.

Forget vote share, what counts is seats. Congress lost the national elections in 1999 with 20 million more votes.

How is this any different than what i said?

Sorry pal, looks like you're just trolling.

 

[Marcus Fenix]

How are you guys still engaging this Troll even after years of bullshitting on this thread?

Don't give in to trolling mate....

 

[ssslayer]

Unauthorized inflation that results in things getting costlier. Financial terrorism.

See https://economictimes.indiatimes.co...may-impact-inflation/articleshow/17615199.cms

Lawl at that term in Bold.
When Govt does it, it suddenly become "authorized" and when it happens due to non-govt factors then it is termed as "unauthorized"?

So you mean all these years whatever increments I (and the entire worker population of India including Govt employees) got was due to terrorists printing fake currency (thus increasing inflation, and thus leading to >7% year on year increments). What an irony, should I say thanks to Mr Terrorists?

In fact Govt should also consider thanking, since the inflation caused the workers to work harder (and produce more output) in order to maintain the same lifestyle as previous years - thus leading to a growth in real GDP (in turn leading to higher tax collections)!

 

[Marcus Fenix]

Lawl at that term in Bold.
When Govt does it, it suddenly become "authorized" and when it happens due to non-govt factors then it is termed as "unauthorized"?

So you mean all these years whatever increments I (and the entire worker population of India including Govt employees) got was due to terrorists printing fake currency (thus increasing inflation, and thus leading to >7% year on year increments). What an irony, should I say thanks to Mr Terrorists?

In fact Govt should also consider thanking, since the inflation caused the workers to work harder (and produce more output) in order to maintain the same lifestyle as previous years - thus leading to a growth in real GDP (in turn leading to higher tax collections)!

You see two or three rats in your house. As implied by an esteemed rando you deduce that by the factor of velocity the real number of rats in your house is at least 100.

Then instead of calling a pest exterminator like a sane person you proceed to burn down your house to kill the rats and move to a rented apartment where you pay the rent as well as the EMI for the house you burned down.

This is the logic that most bhakts would swear by these days. What a time to live in........

 

[blr_p]

I said no party is clean. How this translates to me not believing my point on demo makes no sense. Your argument is illogical.

Simple. If no party is clean then the BJP would obviously be affected by note ban as well.

How does this have any bearing on anything? No logic applied here either.

You did mention upcoming elections which i took to mean UP four months later.

No I meant the LS. the state election results have a direct bearing on LS seats.

Then i don't follow your original post. LS is 2014, Notes ban is Nov 2016, next LS election is 2019

Post automatically merged: Feb 13, 2020

How are you guys still engaging this Troll even after years of bullshitting on this thread? Someone needs to ban the fcuker and move the fcuk on. My god , just going round and round on the same thing, deliberate twisting and masking hate with pseudo logic.

You want to score then work at it. Name calling does not earn you any credibility.

So far nobody has been able to challenge what Mani said as far as notes ban goes.

He's the guy you're up against not me

 

[dissel]

This is a 10-month-old video but it may relevant to this thread - If not then ignore.

 

[blr_p]

So we are going with random assertions withouty any study or semblance of any hard proof as to the number of 10 lakh crores ?
LOL

I would trust RBI data quite a bit more than the pie in the sky guesstimate by a cop who is not affiliated with RBI whose job is to track these metrics.

RBI Data Shows Amount Of Fake Currency Insignificant

Detection of fake notes was 20% higher in FY17 but didn’t amount to much.

www.bloombergquint.com

Just how many fake notes were actually detected in India last year?

The value of fake currency in circulation at any given time is Rs 400 crore, according to a study.

scroll.in

Here you go

Demonetisation in India: Demonetisation due to big rise in Rs 500/1,000 notes | India News - Times of India

India News: The Centre on Wednesday told the Supreme Court that a massive increase in the circulation of currency notes of Rs 500 and Rs 1,000 denomination was on

timesofindia.indiatimes.com

In an affidavit to be scrutinised by a five-judge bench seized of a bunch of petitions challenging the 2016 demonetisation decision, the government said, "There was a massive increase in the circulation of banknotes of Rs 500 and Rs 1,000 vis-à-vis Rs 50 and Rs 100 in the preceding five years, as per RBI data."

"This showed a steep rise in the two highest denominations, that is 76.4% for Rs 500 and 109% for Rs 1,000 from 2010-11 to 2015-16. The added feature was also that the Centre and RBI had considered introduction of a new series of notes which can tackle black money, counterfeiting and illegal financing by simultaneously withdrawing legal tender of the denomination of Rs 500 and Rs 1,000," it said.

Where did these notes come from? Why was there an increase ?

You discover this through honest cops. Ones that say they discovered a container load of notes arriving.

And credit due to RVS Mani for stating this back in 2018