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  

blackmoney-1511113943___20191011094841___.jpg
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  
Post a Comment

Related Posts

    • Committes attached to govt.

      These celluloids should not get these posts. it is not clear whether the posts carry some sort of remuneration. These committees have definite role and why not advertise for memberships in committ...

      By Subramanian Venkataraman
      /
    • Pathetic MPs and bureaucrats

      25 out of 29 MPs skip key pollution meet called by Parliament's Standing Committee on Urban Development meeting. 5 Top Bureaucrats from Environment Ministry & the Municipal Corporations also bu...

      By Vinita Agrawal
      /
    • Online frauds using Facebook, Whatsapp, Instagram and other platforms: Inputs Sought

      Some of you in the online communities for Ministry of Consumer Affairs, Department of Legal Metrology and other circles have been highlighting how buying and selling is taking place via Facebook, I...

      By LocalCircles Manager
      /
    • Solutions to stop stubble burning and the deadly air in Delhi NCR and North India

      Delhi NCR and many parts of Northern India have continued to breathe the deadly air with little respite. On a few days the AQI levels even touched the very dangerous 1000+ markPoint solut...

      By LocalCircles Manager
      /
    • Improving Governance of PSUs - Addl Inputs

      Members of various circles continue to report instances of corruption at Public Sector Organisations. Below are your key inputs to improve the functioning of PSUs in India. Kindly review and if you...

      By LocalCircles Manager
      /
    • Investigation Process for Company Frauds with PSU Banks: Inputs Sought

      In multiple circles, we have received posts from members which suggest that the CBI is taking a long time in acting on complaints of frauds in excess of 100 crores filed by public sector banks. Per...

      By LocalCircles Manager
      /
    • Ayodhya Verdict

      Great work by Chief Justice Ranjan Gogoi! A five-judge bench of the Supreme Court formed to resolve the Ayodhya dispute paved the way to build a temple through central government-monito...

      By Amit Mishra
      /
    • Ayodhya Verdict Tomorrow

      See attached everyone. Hope we all maintain peace and harmony.

      By Anushka Singh
      /
    • 3 years of Demonetisation: Findings and Inputs Sought

      Many of you participated in the LocalCircles survey on 3 years of demonetisation. Below, please find the link to the survey report. While increase in digital transactions are expansion of tax net a...

      By LocalCircles Manager
      /
    • ARE SOME LAWYERS HALF CRIMINALS ?

      In pre independent days, India has seen great scholarly lawyers like Mahatma Gandhi, Jawaharlal Nehru, Sardar Patel, Rajaji and others. Seeing the behavior of the present day lawyers, those belongi...

      By N.S. Venkataraman
      /
Share To
Enter your email & mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

Please select a Circle that you want people to invite to.
Invite to
(Maximum 500 email ids allowed.)