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Rahul Singhla , Thinker, Blogger, UPSC aspirant. Nov, 17 2016

Has opposition trivialised the issue by focussing on inconvenience?



Vikram Gupta , Exploring, learning, believing Nov, 17 2016


Nope, that's no trivialization, it's a reality check. The government has tried to offset the ill-planning by gaining respect for "boldness." We need this ranting from the other end, to not only highlight the lack of foresight by the government, but to also compel them to take reformative actions,


Rahul Singhla , Thinker, Blogger, UPSC aspirant. Nov, 17 2016


I am saying it's more serious than just inconvenience


Vikram Gupta , Exploring, learning, believing Nov, 17 2016


Oh maybe I misinterpreted what you meant. Care to elaborate on the seriousness of the issue over and above the inconvenience? To my untrained eye, it seems inconvenience is the only, though huge, roadblock to this revolutionary move.


Piyush Swami , A law students who doesnt have any interest i Nov, 17 2016


Well, more than inconvenience, utility is the issue in this particular case. Elaborating on the point, every action that any government takes has and should have large utility. In this case, when a step like demonetisation is taken, it should be kept in mind that are we really acheiving what we are aspiring for. Lets discuss the problems with the new policy point by point:-


1. First of all, according to the data released by Income Tax Dept, only 4-6 % of the black money is cash form which can be curbed through this process. Most of the black money is already converted into investments like real estate, gold and other investments.


2. There are still ways to convert black money into legal money without actually paying tax (mind it I am only talking about the money on which the tax is not paid). Mandir hundis are the perfect mechanism through which the money can be converted. According to a source, in Ahemdabad there are several agents that are offering and are converting the black money with a deduction of 30% of the amount.


There are more, but I have to go

Well, more than inconvenience, utility is the issue in this particular case. Elaborating on the point, every action that any government takes has and should have large utility. In this case, when a step like demonetisation is taken, it should be kept in mind that are we really acheiving what we are


Nikhil Dua , BITS alumnus, Market research analyst at Cred Nov, 17 2016


There are loop holes, here and there but the larger goal will be met. arpound 30% of hoarded money will enter the system which will be taxed and fined hence govt will accumulate money for development.

Also can you explain what is Mandir Hundis?