5 ms·

> a possibility of large-scale riots, but ended with only 100 deaths. I don't see how it cannot be termed a success. What is the upside we got with demonetizat

> a possibility of large-scale riots, but ended with only 100 deaths. I don't see how it cannot be termed a success. What is the upside we got with demonetization that we can call success? Did it end black money? No. Will it end counterfeit currency? No. Does it help citizens in any way? No. Then what exactly is the success we achieved here? Modi have blood of 100 citizens on his hands this time instead of thousands like it was in Gujarat riots under his leadership. Is that the benchmark of success?

lenkite 10y ago
It has reduced black money significantly. Especially for terrorist and militant groups - both Pakistan sponsored and home grown Naxalites. They are now being forced to raid banks for new cash. The new notes are also much more difficult to counterfeit. That's two points crossed in your list.
- RealGeek 10y ago
  They have been able to convert their cash to new Rs. 2,000 notes through the underhand deals with corrupt Government and Banking officials.
shripadk 10y ago
> Did it end black money? No. > Will it end counterfeit currency? No. > Does it help citizens in any way? No. 70% of those polled (average of all polls conducted by media and independent media houses) disagree with you. I, as a Free Citizen of India, disagree with you. You fail to mention about all those getting caught with counterfeit currency and black money and still continue to be caught. Are those the figments of my imagination? Or are you only seeing one side of the coin? The side that suits your narrative? > Then what exactly is the success we achieved here? Modi have blood of 100 citizens on his hands this time instead of thousands like it was in Gujarat riots under his leadership. Is that the benchmark of success? This is a ridiculous and a very weak argument to counter an economic move. I'm sorry that you are incapable of understanding a perspective beyond the deaths of 100 people.
- RealGeek 10y ago
  > 70% of those polled (average of all polls conducted by media and independent media houses) disagree with you. We measure success or failure of such economic policies with statistics, not by political opinion polling. > You fail to mention about all those getting caught with counterfeit currency and black money and still continue to be caught. They have been conducting raids to catch black money hoarders and counterfeit currency forever. They have escalated it recently, but it could have been done without demonetization as well. > I'm sorry that you are incapable of understanding a perspective beyond the deaths of 100 people. What benefit did we get out this whole scheme? My family have personally suffered significant monetary loss on our 100% tax paid cash, and suffered significant loss in business because of this chaos. Millions of citizens have hard time feeding their family because of this jumla.
  - shripadk 10y ago
    > We measure success or failure of such economic policies with statistics, not by political opinion polling. You can't go by statistics in an economic move like demonetization this early. The move itself is done keeping in mind the long term impact. 70% of those polled understand that and hence keep an open-mind. > They have been conducting raids to catch black money hoarders and counterfeit currency forever. They have escalated it recently, but it could have been done without demonetization as well. The reason it has escalated is because of demonetization. It wouldn't have been possible without it. There would be no way for the Government to track cash to catch these hoarders/evaders. > What benefit did we get out this whole scheme? These are the two benefits I directly get from this scheme: 1. Home loans reduced by 90 basis points (and will continue to reduce). 2. Property prices have dropped and will continue to drop significantly as most of the property transactions happened in black. There are many other benefits but they don't directly affect me (like 10 year fixed rate of interest for senior citizens, 6000 rupees for pregnant women, moving of people from informal economy to formal economy etc). But these two benefits are more than enough to resonably change my lifestyle. > My family have personally suffered significant monetary loss on our 100% tax paid cash, and suffered significant loss in business because of this chaos. Millions of citizens have hard time feeding their family because of this jumla. What kind of business is your family in that caused "personally suffered significant monetary loss on our 100% tax paid cash"? I'm curious to know and understand.

lenkite 10y ago

It has reduced black money significantly. Especially for terrorist and militant groups - both Pakistan sponsored and home grown Naxalites. They are now being forced to raid banks for new cash. The new notes are also much more difficult to counterfeit. That's two points crossed in your list.

RealGeek 10y ago
They have been able to convert their cash to new Rs. 2,000 notes through the underhand deals with corrupt Government and Banking officials.

shripadk 10y ago

> Did it end black money? No. > Will it end counterfeit currency? No. > Does it help citizens in any way? No. 70% of those polled (average of all polls conducted by media and independent media houses) disagree with you. I, as a Free Citizen of India, disagree with you. You fail to mention about all those getting caught with counterfeit currency and black money and still continue to be caught. Are those the figments of my imagination? Or are you only seeing one side of the coin? The side that suits your narrative? > Then what exactly is the success we achieved here? Modi have blood of 100 citizens on his hands this time instead of thousands like it was in Gujarat riots under his leadership. Is that the benchmark of success? This is a ridiculous and a very weak argument to counter an economic move. I'm sorry that you are incapable of understanding a perspective beyond the deaths of 100 people.

RealGeek 10y ago
> 70% of those polled (average of all polls conducted by media and independent media houses) disagree with you. We measure success or failure of such economic policies with statistics, not by political opinion polling. > You fail to mention about all those getting caught with counterfeit currency and black money and still continue to be caught. They have been conducting raids to catch black money hoarders and counterfeit currency forever. They have escalated it recently, but it could have been done without demonetization as well. > I'm sorry that you are incapable of understanding a perspective beyond the deaths of 100 people. What benefit did we get out this whole scheme? My family have personally suffered significant monetary loss on our 100% tax paid cash, and suffered significant loss in business because of this chaos. Millions of citizens have hard time feeding their family because of this jumla.
- shripadk 10y ago
  > We measure success or failure of such economic policies with statistics, not by political opinion polling. You can't go by statistics in an economic move like demonetization this early. The move itself is done keeping in mind the long term impact. 70% of those polled understand that and hence keep an open-mind. > They have been conducting raids to catch black money hoarders and counterfeit currency forever. They have escalated it recently, but it could have been done without demonetization as well. The reason it has escalated is because of demonetization. It wouldn't have been possible without it. There would be no way for the Government to track cash to catch these hoarders/evaders. > What benefit did we get out this whole scheme? These are the two benefits I directly get from this scheme: 1. Home loans reduced by 90 basis points (and will continue to reduce). 2. Property prices have dropped and will continue to drop significantly as most of the property transactions happened in black. There are many other benefits but they don't directly affect me (like 10 year fixed rate of interest for senior citizens, 6000 rupees for pregnant women, moving of people from informal economy to formal economy etc). But these two benefits are more than enough to resonably change my lifestyle. > My family have personally suffered significant monetary loss on our 100% tax paid cash, and suffered significant loss in business because of this chaos. Millions of citizens have hard time feeding their family because of this jumla. What kind of business is your family in that caused "personally suffered significant monetary loss on our 100% tax paid cash"? I'm curious to know and understand.