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Sunday, November 13, 2016

Is demonetization necessary to curb the Black Money & destroy terror funding?

As we know about the dmonetization of indian currency, announced by the PM Modi on 8th of November, 2016 at 8PM, saying that it was necessary to curb the Black Money in the country.

We all are facing lot of problem to exchange the money from the bank and the ATM is not working properly everywhere inspite of this people are saying this is very good steps taken by the govt. They are also saying the govt is unable to manage the situation post demonetization of 500 and 1000 notes. Everywhere is a long que in front of bank and available ATM cash. 

Many people have the opinion some are saying that this was necessary because a large amount of black money used in the election, terror funding.

There are approx 2 lacs ATM in the country as per media news, but the ATM is not ready for dispensing 2000 notes, it needs recallibration for the new notes. Till today all the people waiting in que is not holding Black money, they are middle class and poor people of the country. No any black money holder's are depositing money in the bank and no one think about it. How many people is holding black money in the country like 1% or 2 % or 5%. There is no calculation of the black money holder in the country.

In the first four days from November 10th to 13th, about Rs 3 lakh crore of old Rs 500 and 1000 bank notes have been deposited in the banking system and about Rs 50,000 crores has been dispensed to customers by either withdrawal from their accounts or withdrawal from ATM's or by exchange at the counter, according to finance ministry.



The Pakistan and its terror groups have been funding for its activities in India using duplicate Indian currency. The terror funding will destroy after demonetization.

All the political parties like Kejriwal, Rahul Gandhi, Mamta Banerjee, Mulayam Singh Yadav, Mayawati are opposing the demonetization announced by the PM Modi. Kejriwal claming that there is a big scam in the demonetization by the BJP. One of the BJP leader from punjab have posted Rs.2000 notes pictures on 6th November, how he knows about the demonetization of Rs500 and Rs.1000 notes before announcement, questioned Kejriwal. The main black money holder in the country is the leader of political parties itself.

 The BJP MP Subramanian Swamy also today criticised the finance ministry for the lack of preparedness post demonetization.

The PM Modi also indicated that more steps will be announced after 30th December to curb the Black Money. Today PM Modi lashed out at opposition and cautioned black money holder to ready to face more strict action after 30th December, 2016.
BJP MP Subramanian Swamy today criticised the finance ministry alleging "lack of preparedness" in dealing with the demonetisation of two high-value currencies


There is a lack of unanimity in the opposition parties on this issue. Nationalist CongressParty chief Sharad Pawar has praised the PM’s decision. Odisha Chief Minister and Biju Janata Dal chief Naveen Patnaik, Janata Dal (United) chief and Bihar CM Nitish Kumar and even Uttar Pradesh Chief Minister Akhilesh Yadav have largely welcomed the move.

PM Modi also said the govt next move is to target unaccounted wealth holder. The PM also asked the citizen to give me 50 days only to sort out the scarcity of currency.

The opposition parties mainly Congress and Trinamool Congress are set raise the issue in the winter session of the parliament starting from 16 Novembe, 2016.

-- analysis by dirtypolitics 

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