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> 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

> 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.
- RealGeek 10y ago
  > 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. I am a NRI, me and my family have significant amount of Indian currency in US. All of it is 100% tax paid. Indian Government has provided us no way to exchange currency or deposit it in our account if we are outside India. Modi declared our hard earned money as black money, and labelled us as criminals. My father in India runs a cash and carry wholesale businesses. His typical customer is a street vendor in some remote village. When they come to my father's to buy inventory, they pay in cash because that is the only way for them to accept and make payments in villages. Most of them don't even have a bank account. When Modi announced demonetization, his business dropped to almost zero. Two months since, it still hasn't recovered much. His business is seasonal (woolen products), most of it is in winter months only. Demonetization has turned this whole year into a major loss for him and it has literally crashed their Industry, which is resulting in layoffs. Modi ji gave immunity to Politicians, so Political parties can deposit unlimited amount of cash tax free. I thought demonetization was a scheme, but it turns out it is a major scam.
  - shripadk 10y ago
    > Indian Government has provided us no way to exchange currency or deposit it in our account if we are outside India. Modi declared our hard earned money as black money, and labelled us as criminals. This is a blatant lie. RBI allows you (a.k.a NRIs only) to deposit this money till 31st of March 2017 in it's branches. Modi never declared your hard earned money as black money or labelled you criminals. I'm now beginning to wonder why you have significant amount of Indian currency in the US. What use is it for you there? RBI has strict rules about how much INR you can take outside India (Rs. 25000 per person). This rule was made to ensure that if/when you return to India you have enough INR for lodging/transportation/flight expenses etc. You don't need INR to transact outside India anyways so this whole thing of having a "significant amount of Indian currency in US" is suspicious to me. > My father in India runs a cash and carry wholesale businesses. His typical customer is a street vendor in some remote village. When they come to my father's to buy inventory, they pay in cash because that is the only way for them to accept and make payments in villages. Most of them don't even have a bank account. When Modi announced demonetization, his business dropped to almost zero. Two months since, it still hasn't recovered much. His business is seasonal (woolen products), most of it is in winter months only. Demonetization has turned this whole year into a major loss for him and it has literally crashed their Industry, which is resulting in layoffs. I would have believed this story if it wasn't prefixed with your excuse to not be able to deposit your INR stash just because you are an NRI. This whole thing sounds really fishy to me. > Modi ji gave immunity to Politicians, so Political parties can deposit unlimited amount of cash tax free. I thought demonetization was a scheme, but it turns out it is a major scam. No he did not. Mayawati and her brother are already under investigation for a deposit of 104 crores into their party bank accounts. AIADMK chief secretary was arrested for laundering black money. More such political arrests have happened (including some BJP workers and party members who were showing off to the entire World that they were clean but were actually hoarding black money). This argument is also not convincing. I'm sorry but I'm beginning to doubt your story. Especially when you mentioned that you are an NRI and have significant amount of INR in the US. It just doesn't add up. RBI notifications prohibit you to carry so much INR outside India and this rule existed for many years. How much INR do you have with you?
hesarenu 10y ago
We measure success or failure of such economic policies with statistics, not by political opinion polling - Yes. Hence we need to check the data to see if worked instead of picking political points like blood of citizens or Gujarat riots.
- RealGeek 10y ago
  > picking political points like blood of citizens Over 100 people have died due to demonetization scam[1]. It is not an opinion, they are not even just facts and statistics, 100 real people have died and their families have been destroyed. Let that sink in. [1] Modi ji gave immunity to Politicians, so Political parties can deposit unlimited amount of cash tax free. I thought demonetization was a scheme, but it turns out it is a major scam.
  - hesarenu 10y ago
    You were the one who wanted it be data driven not politicized. Pick one.

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.

RealGeek 10y ago
> 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. I am a NRI, me and my family have significant amount of Indian currency in US. All of it is 100% tax paid. Indian Government has provided us no way to exchange currency or deposit it in our account if we are outside India. Modi declared our hard earned money as black money, and labelled us as criminals. My father in India runs a cash and carry wholesale businesses. His typical customer is a street vendor in some remote village. When they come to my father's to buy inventory, they pay in cash because that is the only way for them to accept and make payments in villages. Most of them don't even have a bank account. When Modi announced demonetization, his business dropped to almost zero. Two months since, it still hasn't recovered much. His business is seasonal (woolen products), most of it is in winter months only. Demonetization has turned this whole year into a major loss for him and it has literally crashed their Industry, which is resulting in layoffs. Modi ji gave immunity to Politicians, so Political parties can deposit unlimited amount of cash tax free. I thought demonetization was a scheme, but it turns out it is a major scam.
- shripadk 10y ago
  > Indian Government has provided us no way to exchange currency or deposit it in our account if we are outside India. Modi declared our hard earned money as black money, and labelled us as criminals. This is a blatant lie. RBI allows you (a.k.a NRIs only) to deposit this money till 31st of March 2017 in it's branches. Modi never declared your hard earned money as black money or labelled you criminals. I'm now beginning to wonder why you have significant amount of Indian currency in the US. What use is it for you there? RBI has strict rules about how much INR you can take outside India (Rs. 25000 per person). This rule was made to ensure that if/when you return to India you have enough INR for lodging/transportation/flight expenses etc. You don't need INR to transact outside India anyways so this whole thing of having a "significant amount of Indian currency in US" is suspicious to me. > My father in India runs a cash and carry wholesale businesses. His typical customer is a street vendor in some remote village. When they come to my father's to buy inventory, they pay in cash because that is the only way for them to accept and make payments in villages. Most of them don't even have a bank account. When Modi announced demonetization, his business dropped to almost zero. Two months since, it still hasn't recovered much. His business is seasonal (woolen products), most of it is in winter months only. Demonetization has turned this whole year into a major loss for him and it has literally crashed their Industry, which is resulting in layoffs. I would have believed this story if it wasn't prefixed with your excuse to not be able to deposit your INR stash just because you are an NRI. This whole thing sounds really fishy to me. > Modi ji gave immunity to Politicians, so Political parties can deposit unlimited amount of cash tax free. I thought demonetization was a scheme, but it turns out it is a major scam. No he did not. Mayawati and her brother are already under investigation for a deposit of 104 crores into their party bank accounts. AIADMK chief secretary was arrested for laundering black money. More such political arrests have happened (including some BJP workers and party members who were showing off to the entire World that they were clean but were actually hoarding black money). This argument is also not convincing. I'm sorry but I'm beginning to doubt your story. Especially when you mentioned that you are an NRI and have significant amount of INR in the US. It just doesn't add up. RBI notifications prohibit you to carry so much INR outside India and this rule existed for many years. How much INR do you have with you?

hesarenu 10y ago

We measure success or failure of such economic policies with statistics, not by political opinion polling - Yes. Hence we need to check the data to see if worked instead of picking political points like blood of citizens or Gujarat riots.

RealGeek 10y ago
> picking political points like blood of citizens Over 100 people have died due to demonetization scam[1]. It is not an opinion, they are not even just facts and statistics, 100 real people have died and their families have been destroyed. Let that sink in. [1] Modi ji gave immunity to Politicians, so Political parties can deposit unlimited amount of cash tax free. I thought demonetization was a scheme, but it turns out it is a major scam.
- hesarenu 10y ago
  You were the one who wanted it be data driven not politicized. Pick one.