According to PM demonetization is a surgical strike against black money, fake

currency and terror funding, and promoting digital transaction as its objectives.

Is demonetization is a solution to black money or corruption?

No its is not. As because only 1% of the black wealth is cash 99 % is of other
things. People having black wealth always invest in different modes. Till now
government has not been able to identify the account holders having accounts in
swiss banks. Where most of the black money is being deposited.
By demonetization government has tried to bring back the cash which is not
under the scrutiny of banks. So if a housemaker has a cash of 1 lakh, according to
govt it is black money? But is it true?

It means the middle classpoor people, poor people and specially the tax
payers have suffered the most and they have suffered for nothing. It was
remarked during the months of November and December 2016 that the
Indian people were demonstrating exemplary patience. Poor and lower
middle class people underwent great hardship during these months, standing
for hours in bank and ATM queues, and managing their lives with a chronic
shortage of cash. Yet the thought that it was all in a good cause, and that
holders of black money were suffering even more, kept them in relative good
humour. But now, if it turns out that black money holders have managed to
have the last laugh, and that common people have suffered for nothing, won't
the voting public be outraged?

According to RBI 99% old notes have been replaced or deposited in banks. So
can we say that 99% black money has been changed to WHITE MONEY. Only
difference is that now the money is with the banks but still the point has not
been cleared that does demonetization has stopped black money??

Narendra Modi on 15th August 2017 said that Demonetisation revealed

Rs 3 lakh crore black money. How he came with this figures
because RBI has not given any figures till 15th August, Is he
running the RBI?? Something very fishy is going on.

On July 12, 2017, almost 8 months after the announcement of demonetisation,

RBI Governor Urjit Patel told a Parliamentary Standing Committee that the RBI
was still counting the money that had been received by the banking system, and
hence he could not state how much money had actually come in.
This was doubtless an extraordinary admission. It speaks pretty poorly of India's
banking system that there cannot even be a rough estimation of this amount,
since all exchanges were stopped on December 30, 2016.
And till date the actual calucation have not been declared.

Point against terror funding.

As per reports from NIA immediately after 8th nov demonetization surgical strike
terrorist attacks just got decreased but by the end of December suddenly the
attacks get increased. So within a span of 2 months terrorist groups re arranged
themselves and demonetization didn’t effect them much. If we take the caes of
Kashmir and maoist effected area where terrorist had caused severe damage to
the civilian and armed forces. And it was also reported by National Investigation
Agency (NIA) that the terror funding is done by digital modes only. So
demonetization has not effected terror funding much.

Consequence #5: Employment

In the first 34 days since demonetization, micro-small scale industries suffered

35% jobs losses and a 50% dip in revenue. (More)
The informal sector was the worst-hit. As many as 152,000 ‘casual’ employees
across thousands of factories may have lost their jobs during October-December
quarter, a recent government survey showed.
According to the Labour Bureau Survey, the manufacturing sector added 72,000
employees during October-December on a net basis, but also laid off 113,000
casual workers, mirroring how factories may have asked those workers, who
mainly get paid in cash, to leave during the currency recall’s peak weeks.

Consequence #7: Agriculture

 Demonetisation has affected every Indian, but it hit the agricultural sector
the hardest.
 Agriculture in India accounts for 50% of the workforce. The agrarian
economy of India is primarily cash-based and village-based. Farmers tend
to be unable to avail digital services as such they tend to be digitally
illiterate; in many parts of India, farmers don’t even have bank accounts.
 It must be noted that the timing of demonetization was highly
damaging to farmers. It came following an above-average monsoon
season, but farmers were unable to cash in on the benefits of
abundant rainfall due to the overnight implementation.
 The situation was made more dire and desperate as most farmers have
their savings only in cash and the winter sowing period was severely hit.
 Farmers were forced to sell their produce at abysmally low rates.
 Furthermore, when banks failed to exchange the farmers’ old notes or
give them loans, local moneylenders exploited the situation by charging
inhumanly high-interest rates

Fake currency :

Till 16th feb 2017 almost 3 months fater demonetization in 3 different cases in
mohali, indo bangla border and in Hyderabad NIA had arrested people for
dealing with fake 2000 Rs notes. so the motive of stopping fake currency has not
been stopped. According to RTI almost 12000 Cr have been invested to print new
2000 Rs notes. does it is worth of expensing such a huge amount and in return
people have started circulating fake notes within 3 months.