MODIS DEMONTIZATION IS A FORTUNE WORSE THAN THE

CURSE FOR INDIA.

In an effort to withstand black money, tax evasion and counterfeiting PM on Nov 8

announced that 500-1000 note were no longer be considered as a legal tender.
People will get 50 days to either deposit it or get it exchanged from the bank or
post office.

It is obvious that there is a huge effect on the lives of the general public rather than
those black money holders.The idea was good but it has to be taken into
consideration that most of the black money is either kept in the form of land or
gold or kept abroad.

The people who are really getting suffer are poor and lower middle class people
living in villages who have all their life earn their money with great hard work
honesty and loyalty. Is this the reward they are getting for not earning through
corruption?While the poor people keep their money in cash because they have a
limited amount of money which are only enough for getting their basic needs
fulfilled. On the other hand those black money holders do not keep money in cash
they get it invested. P.M has made innocent people stand in line for hours. Well
either they stand in the line or go to work to earn for the family?

So what has changed? Nothing. Except the shrill sound bytes of the media,
genuine harassment to the people because of currency shortage, drama by the
political parties, nothing is going to change. The poor will remain poor, the rich
will be hardly affected.

Also how this will the affect the money present in swiss bank?
DEMONITIZATION IS EITHER CURING THE DISEASE OR KILLING
THE PATIENT?
This move by PM isnt perfect.
As people will certainly find ways to make the money white. People,
including black money hoarders do not live in isolation, and its very much
possible for some of them to utilize their (quite large, in some cases)
network to successfully get away with laundering money.

The real solution would be to really push for a digital economy.