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> Its impossible to register a property in Karnataka, without a PAN card/number. So in short for high value transaction its already possible to have tax account

> Its impossible to register a property in Karnataka, without a PAN card/number. So in short for high value transaction its already possible to have tax accountability. Same with jewelry. The question is that of enforcement. You don't need to demonetize anything for these things. How do you explain the actual change that has occured in the real estate market then? > What is going to be a bigger surprise to you is discovering a few years down the lane that a full scale parallel unregulated economy is in motion. Of course. Nobody says that this will kill all illegal activity for all time in this country of 1.25 billion people. But there was a big positive effect due to demonetisation. Even if it dents the black economy for 5 years, that's good enough. We'll take more such actions when needed. > Middle class these days is like people who make a good 30-40K a month. These people see a lot of high value notes. https://www.livemint.com/Opinion/TvcFydQcN6KEFkvdW7BprM/Indias-burgeoning-middle-class.html https://www.livemint.com/Opinion/TvcFydQcN6KEFkvdW7BprM/Indi... From the article: vast majority of middle class in india earns less than $4 per day. A ₹2000 note is 10 days wages. Yeah, I don't think those guys will ever save that much while still surviving. > The rich don't exactly keep their money beneath their mattress these days. Yup, they were forced to move it from there in 2016. Some moved it to bitcoin, as described in TFA. > Before you implement all these pie in the sky electronic transaction ideas. Please ensure people get electricity. Bullshit. Electrification and economic reforms can happen simultaneously in the world's seventh largest economy. For example, 2018 was the first year when all villages satisfied the criteria for being electrified. Long way from 24x7 electricity, but hey, it's a start.

kamaal 8y ago
>>How do you explain the actual change that has occured in the real estate market then? What change has happened in the Real estate market? The big builders are continuing to sell their inventories as they were doing before with cheques and RTGS transactions. People still continue pay bribes to registration offices. In fact plots around vicinity of Bangalore are still going like hot cakes. If you are fed up about property rates, then there is going to be no relief there. People are coming to cities for jobs through flood gates, and demand is far higher than supply. Every year one crore babies are born in India, and all of them need homes to stay 20 years from now, this is year after year, every single year. When the demand is this high, how do you expect prices to not go up? >>Even if it dents the black economy for 5 years It didn't anything even for 5 minutes. Only thing it achieved is slowed economic growth. >>We'll take more such actions when needed. Again, who is this 'we'. >>vast majority of middle class in india earns less than $4 per day. That's the poor, and they were worse effected. The unorganized sector where these people are largely employed suffered and many jobs were lost. >>Yup, they were forced to move it from there in 2016. Some moved it to bitcoin, as described in TFA. Not even fools keep their money in cash, even in the past. People invest money. Indian economy didn't exactly come magically into existence in 2016. So please... >>Bullshit. Electrification and economic reforms can happen simultaneously in the world's seventh largest economy. You call these 'economic reforms' :) Great, carry on.

kamaal 8y ago

>>How do you explain the actual change that has occured in the real estate market then? What change has happened in the Real estate market? The big builders are continuing to sell their inventories as they were doing before with cheques and RTGS transactions. People still continue pay bribes to registration offices. In fact plots around vicinity of Bangalore are still going like hot cakes. If you are fed up about property rates, then there is going to be no relief there. People are coming to cities for jobs through flood gates, and demand is far higher than supply. Every year one crore babies are born in India, and all of them need homes to stay 20 years from now, this is year after year, every single year. When the demand is this high, how do you expect prices to not go up? >>Even if it dents the black economy for 5 years It didn't anything even for 5 minutes. Only thing it achieved is slowed economic growth. >>We'll take more such actions when needed. Again, who is this 'we'. >>vast majority of middle class in india earns less than $4 per day. That's the poor, and they were worse effected. The unorganized sector where these people are largely employed suffered and many jobs were lost. >>Yup, they were forced to move it from there in 2016. Some moved it to bitcoin, as described in TFA. Not even fools keep their money in cash, even in the past. People invest money. Indian economy didn't exactly come magically into existence in 2016. So please... >>Bullshit. Electrification and economic reforms can happen simultaneously in the world's seventh largest economy. You call these 'economic reforms' :) Great, carry on.