Demonetisation and its Aftermath

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India lost 1% of its GDP to Modi's hunt for elusive black money

Finally, the RBI has deigned to release the cold hard facts on Demonetisation. Of Rs 15.44 lakh crore worth of currency denotified, almost all came back, save currency worth Rs 16,000 crore. The Central Statistics Office estimates India’s 2016-17 GDP to be Rs 151.84 lakh crore. That means black money worth 0.1% of GDP was extinguished. To achieve that, 1% of GDP was sacrificed, if we go by the Economic Survey’s estimate of the impact of Demonetisation on economic growth.
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If this waste of money was not enough, they are going to release Rs200 notes now.
 
0.40% is probably from people who have kept an old thousand rupee note for posterity. I mean, if all these notes have been returned then they should become a collector's item soon enough.
 
ट्रैफिक पुलिस वाले 100₹ लेते नही थे और हम 500₹ देते नही थे।
200₹ की नोट के साथ RBI ने बीच का रास्ता दिखाया है।[DOUBLEPOST=1504281837][/DOUBLEPOST]आपको ऐसा नहीं लग रहा कि 9 महीने बाद 2000 और 500 के नोटों को 200 और 50 नाम के बच्चे हुए हैं!
 
Just curious, are the hindi posts just for the language effects, or is their some conspiracy theory like reason behind it, like hiding from the NSA/CIA :p
 
lol now wondering why opposition parties aren't trying to bring up the amount of old notes that were returned. Makes me wonder if they are all on the same side. I mean, this proves that there was a negligible amount of fake/black money in circulation and vast majority of people are actually playing taxes and delcaring their income. Right? I guess India is way less corrupt that is being potrayed in the media :p
 
chiron said:
lol now wondering why opposition parties aren't trying to bring up the amount of old notes that were returned. Makes me wonder if they are all on the same side. I mean, this proves that there was a negligible amount of fake/black money in circulation and vast majority of people are actually playing taxes and delcaring their income. Right? I guess India is way less corrupt that is being potrayed in the media :p
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I am not sure if you read the papers or watched TV after RBI notified that 99% old notes had been returned. Congress did attack the government regarding this. I guess it happened in parliament!
 
This needs to be the thing people need to take this government to task to, not the gorakhpur deaths or murder of some journalist.
 
chiron said:
lol now wondering why opposition parties aren't trying to bring up the amount of old notes that were returned. Makes me wonder if they are all on the same side. I mean, this proves that there was a negligible amount of fake/black money in circulation and vast majority of people are actually playing taxes and delcaring their income. Right? I guess India is way less corrupt that is being potrayed in the media :p
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I guess, here's the 1%: http://timesofindia.indiatimes.com/...in-assets-in-5-years/articleshow/60396387.cms
 
chiron said:
lol now wondering why opposition parties aren't trying to bring up the amount of old notes that were returned. Makes me wonder if they are all on the same side...
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They're all in it together past the 'opposition' bickering. The ruling/governing class has a different set of rules and laws from what common people are subject to. Anyone in politics is a crook, the difference is the way they go about it. Some of them just cheat and steal, others bring religion and divisive tactics into the mix, use violence to dominate, while also cheating and stealing.

chiron said:
This needs to be the thing people need to take this government to task to, not the gorakhpur deaths or murder of some journalist.
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I disagree. Money is still something we can live with or without to a certain extent. But the way they're making sure that journos and cops submit to their will is the scariest part.
 
the aadhaar-sim linking is the final stroke that ties everything together. my old icici debit card had a mastercard securecode password which was awesome, no need to wait for OTP sms, now i think that's the only option they have. my federal bank had a hardware token device, now only OTP sms. this is just an example of how dependent any tech enabled txn or service is on a mobile number. And once that too is linked to aadhaar, the circle is well and truly complete.

p.s. they're saying this is for prepaid sims. Does that mean postpaid numbers do not need aadhaar anywhere in their KYC process?
 
Everyone is a fraud, criminal or terrorist unless proven otherwise. The government is the only exception and will never act against the best interest of its citizens .
 
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