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BBC is right in its analysis, this measure only targets 20% of Indian wealth. The richest 5% owning 80% of Indian wealth are at ease, only poor and middle class

BBC is right in its analysis, this measure only targets 20% of Indian wealth. The richest 5% owning 80% of Indian wealth are at ease, only poor and middle class troubled. Moreover this 20% money will be available to them as cheap loans. The total money owed by big corporates in India is way bigger then this parallel black money. Also the person Rajan who was planning to reign this loans is forced out of office. Modi is Indian version of Donald trump building Great Wall across India against corruption in media. A normal Indian will never know that black money outside of India far outweigh anything in Indian homes.

ireadfaces 10y ago
Demonetization is not a magical wand that will remove all the black money overnight. Now people who says it only for red middle and lower classes, know that it affected mostly people with black money in cash. Cash hoarders, Hawala money, counterfeit money and cash involved in rigging elections, help terrorism and many such illicit activities. Yes, middle class people will have to bear the pain of changing their currency but look at what it is bringing to you. And yes, it is first step, time will come and other sources of Black money will also be taken care of, matter of time, wait and watch. Even writing one such long comment takes time, let alone removing corrupt money fro a nation of 1.2 Billion where people love to ease taxes.
- personinsg 10y ago
  It's being advertised as magic wand by the govt asking common man to endure 50 days of not necessary hardships. This measure only helps govt, it won't have any significant dent on real 80% wealth hoarders who are going to get access to hard earned money through banks and if govt gets more tax then in the form of contracts awarded to them. The proof is already there in the form adani and reliance group gettting major contracts. This is a move to snatch money from common man and hand it over to rich class is a master stroke.

ireadfaces 10y ago

Demonetization is not a magical wand that will remove all the black money overnight. Now people who says it only for red middle and lower classes, know that it affected mostly people with black money in cash. Cash hoarders, Hawala money, counterfeit money and cash involved in rigging elections, help terrorism and many such illicit activities. Yes, middle class people will have to bear the pain of changing their currency but look at what it is bringing to you. And yes, it is first step, time will come and other sources of Black money will also be taken care of, matter of time, wait and watch. Even writing one such long comment takes time, let alone removing corrupt money fro a nation of 1.2 Billion where people love to ease taxes.

personinsg 10y ago
It's being advertised as magic wand by the govt asking common man to endure 50 days of not necessary hardships. This measure only helps govt, it won't have any significant dent on real 80% wealth hoarders who are going to get access to hard earned money through banks and if govt gets more tax then in the form of contracts awarded to them. The proof is already there in the form adani and reliance group gettting major contracts. This is a move to snatch money from common man and hand it over to rich class is a master stroke.