Is the black money back in the economy? Inputs Sought

Many of you may remember that this circle was the first collective community to call for demonetisation Oct 31 - Nov 8, 2016 before it was announced by the Prime Minister on Nov 8.

Per the last few surveys, it was a good idea poorly implemented.

With this post, we would like to seek your inputs on what has been the impact of demonetisation, 3 years down, on black money, economy and number of tax payers.

We look forward to your inputs! more  

View all 209 comments Below 209 comments
The Corruption has not reduced,but it is continued with new innovative methods.
Following are the suggestions:

1.The Only stronger Solution is to DISCONTINUE high denomination currency notes such as Rs 2000/-,Rs 1000/- and even Rs 500/- so that those who want currencies to be collected under Corruption ,will need larger space to keep the same.
2.On line transactions/ECS should increase further .One of the countries-Sweden has only 3% currencies in circulation
3.The Infrastructure for "On line operations" should be fully installed,thereby,the transfer work,on line transactions will happen instantly
4.We should move to 5G,or any latest system that would be available,asap,so that ,common public will feel the ease of working very comfortable,with savings of Time. more  
Yes it’s back in circulation.smalltraders, reAl estate, registration and pvt hospitals and most shop keepers ,jewellers are not issuing a receipyt with gst .
Massive black money is back. more  
We can all go on letting steam out in this circle but nothing worthwhile will ever happen. A video is doing the rounds in WhatsApp which shows some persons showering (new denomination) currency notes from bundles in their hand on stage performers, claimed to be taken in Modi's home state of Gujarat. Don't we all know how crooked gujjus and marwaris are? Demonetisation put the most vulnerable poor people into trouble but these corrupt and criminal elements got away as always. more  
BLACK MONEY 60% IS IN FULL ROTATION while Investments, Deposits, certain Purchases ARE RETROACTIVE to be away from being Seized more  
There is lot of Black Money in the system.Cash payment must be reduced and card/cheque payment must be encouraged and some incentive should be given.Also Agriculture Income should be taxed so that people earning thru "Ghobhi in Gamla" ,their income can also be taxed.Now Govt has seen so many Scams,this should be studied in detail and lacunas must be stopped.Scam/Corruption cases must be fast tracked.More courts/Judges must be made available so that pending cases can be reduced.Maximum backlog should be not more then 5 years. more  
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