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This. I think the headline title here is wrong. Prime Minister Modi has always said that demonetisation of Rs. 500 and Rs. 1000 is just the beginning and Step #
by gordon_freeman 9y ago
This. I think the headline title here is wrong. Prime Minister Modi has always said that demonetisation of Rs. 500 and Rs. 1000 is just the beginning and Step #1. The next step is to probe the bank accounts of these wealthy individuals and give them an opportunity to explain why the Tax has not been paid on it before seizing it.
- kinkrtyavimoodh 9y agoUnfortunately PM Modi and his government have been constantly shifting the goalposts. In the beginning they did promise demonetization as a way to render all black money null.
- vikiomega9 9y agoIsn't auditing for tax purposes a means of annulling black money?
- kinkrtyavimoodh 9y agoIt is, but the initial claim was that this would basically convert the millions of rupees of black money that's hidden away into worthless paper. That was the promise on which millions of poor Indians were asked to stand in long lines—that even if it inconveniences them, it would inconvenience the rich and corrupt even more. Clearly that did not happen.
- grwthckrmstr 9y agoThe unfortunate truth, I hope I don't get hate for saying it here, is that those poor people who need the money the most suffered, and even died during the demonetisation exercise http://mashable.com/2016/11/16/india-people-dying-demonetization/ http://mashable.com/2016/11/16/india-people-dying-demonetiza...