'Modi has gone completely wrong on demonetisation'

[V.Balasubramani]

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[h=1]People support PM Narendra Modi's demonetisation move: UP netas tell Amit Shah[/h]NEW DELHI: Amid reports of continuing inconvenience because of currency rationing and the fear that distress may overtake the initial popular endorsement of demonetisation, there is feedback which should reassure the BJP leadership.

Forty BJP MPs from the eastern region of poll-bound UP have told party president Amit Shah and home minister Rajnath Singh that people, notwithstanding the hardship, remain supportive of PM Narendra Modi's dramatic decision and are confident that the PM will pull it off.

The MPs who huddled with Singh and Shah at NDMC Centre on Wednesday for a free exchange of views on how demonetisation has gone so far in rural areas, said non-availability of currency was a matter of concern and the government needed to take swift ameliorative steps.

Read more at:: http://timesofindia.indiatimes.com/...netas-tell-amit-shah/articleshow/56010446.cms

 

[auh]

A vast majority in India do not understand the nuances of the banking system, its controls, integrity measures etc. For them, cash on hand is much more concrete than some fat banker's word.

I think, transacting in cash should also be a fundamental right, as "thughlak" decisions by governments should affect the basic legitimate purchasing power of citizens. Some might say it is a transient phase but it is in this transient flood that much damage is inflicted.

 

[tbs]

A vast majority in India do not understand the nuances of the banking system, its controls, integrity measures etc. For them, cash on hand is much more concrete than some fat banker's word.

I think, transacting in cash should also be a fundamental right, as "thughlak" decisions by governments should affect the basic legitimate purchasing power of citizens. Some might say it is a transient phase but it is in this transient flood that much damage is inflicted.[/QUOT


hi

for some..FLOOD IS SOURCE OF WATER.......FOR SOME......IT IS DESTRUCTION OF LIFE.........

 

[GANESH65]

[h=1]Electorates of various parts of India seems still with Modi if results of the local body elections are any indication. After Maharashtra and Gujarat, BJP emerges victorious in a big way in Chandigarh too, post November 8 note ban.



BJP-SAD alliance sweeps Chandigarh municipal corporation election, win 21 out of 26 wards[/h][FONT=roboto_condensedregular]By:

BJP workers celebrate after result of Chandigarh Municipal Corporation election were out. (PIC/ABP News)

[FONT=&quot]New Delhi: The Chandigarh Municipal Corporation election results were announced on Monday.

The ruling BJP-SAD alliance has won a majority by bagging 21 wards in totals. BJP has won 20. Akali has won 1. Congress party has won four seats, Independent candidate have won one seat each. The counting is still in progress.

Polling for 26 wards was held on Sunday, with 122 candidates in the fray.


The overall polling percentage in the Chandigarh Municipal Corporation election jumped to a record 59.54 per cent, following a re-polling in a ward of the civic body after officials noticed some discrepancies.

The re-polling in ward seven registered 71.48 polling, Tarseem Lal, an election office spokesman said here, adding that the overall poll percentage for the 26 wards was 59.54.

It was ordered after electoral officials noticed that the number of votes polled a day before had exceeded the number of voters in a booth of the ward.

The election to 26 wards of the Municipal Corporation is a litmus test for BJP and Congress post demonetization. The fate of 122 candidates, including 67 Independents, will be known by end of the day.

Since its inception, the polling in the civic body election had remained below 50 per cent.

Prominent among those included three-time councillor and former Mayor Subash Chawala (Cong), BJP’s leader Saurabh Joshi and Congress stalwart Devinder Singh Babla and present mayor Arun Sood of BJP.

The results will be test of prestige of key political faces MP Kirron Kher (BJP), former Chandigarh MPs Pawan Kumar Bansal (Cong), Harmohan Dhawan (BJP), Satya Pal Jain (BJP) and Chandigarh BJP president Sanjay Tandon.

All these political bigwigs have a key identity in Chandigarh, the results will somehow set their political future too, besides their current role in local politics.

All political bigwigs from Chandigarh intensively campaigned for their party candidates in the polls.
The total number of voters are 5,07,627, including 2,37,374 female voters.

Both Congress and BJP contested all 26 wards, while BSP has also put up candidates in the fray from 17 wards.

The Municipal Corporation has 36 members, of which 26 are elected councillors, nine are nominated councillors and one is an MP (ex-officio member of the House).
At present, BJP has 15 councillors, Congress has nine, BSP has one and one is Independent.

While the BJP tried to cash in on demonetisation, Congress had made it a major issue with its city unit leaders saying the move was implemented without any “application of mind” as it has put the public to “great hardships”.

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[V.Balasubramani]

Demonetisation: US hails India, says step was necessary to crack down corruption

The US today hailed India's demonetisation step saying it was required step by the NDA Government in fight against the black money.

The action was taken to target illicit cash proceeds from corruption and tax dodging, he says. (PTI)
------------------------------------------------------------------------------------------------------------------------------------

The US today hailed India’s demonetisation step saying it was required step by the NDA Government in fight against the black money. It added that the measure was vital necessary step to crack down on this illegal actions or illicit actions. Speaking at his daily briefing State Department Deputy Spokesperson Mark Toner said that the action was taken to target illicit cash proceeds from corruption and tax dodging, due to which discontinuation of Rs 500 and Rs 1,000 notes was important.

Acknowledging that the step has cause inconvenience for the people as they had to stay in long queues in ATMs and banks to withdraw money, Toner felt that people in the country including the American citizens who are working or staying in India were required to adjust to certain extend. The spokesperson also expressed hope that Americans sating in India by now know how and where to exchange old currency notes with new ones.

Read more at: http://www.financialexpress.com/ind...as-necessary-to-crack-down-corruption/461172/

 

[Vaagmi]

hi

many SUICIDES going to happen in coming days....its sad state of country...

We have been hearing such extreme predictions from various interested quarters. There was a learned judge who said people will riot. LOL.

 

[Vaagmi]

Oh but Bhakts can cover their eyes and ears, but the reality persists.

Oh yes. The nay sayers have appropriated to themselves all the economic wisdom and have passed a judgment on Modi and his Government. The country has to just accept their judgment and not question or point out the shallowness of their understanding of the situation. If you ever dare to ask in this forum someone stupid will show his thumbs down. LOL.

 

[zebra16]

If you ever dare to ask in this forum someone stupid will show his thumbs down. LOL.

Well said

 

[V.Balasubramani]

Modi deserves more bouquet like this....

Vaiko meets Modi, hails demonetisation move

CHENNAI: MDMK chief Vaikoon Thursday met with Prime Minister Narendra Modi and hailed the demonetization move. Vaiko, who is the convenor of the People's Welfare Front, has taken a conflicting stand against that of his allies, Left parties and the VCK. Other PWF constituents have opposed the BJP government's note ban.


The MDMK was part of the NDA's rainbow alliance in 2014 general elections, but drifted apart and became convener of the four-party alliance, People's Welfare Front, in 2015 and contested the assembly polls in May as part of that front.


"It is heartening that you have delivered a spectacular strategic strike through demonetization to eradicate corruption and eliminate black money," Vaiko told PM, a statement of which was released to the media. In a memorandum to Modi, the MDMK leader urged him to take legal steps to enable the conduct of jallikattu during the upcoming Pongal festival.He also sought more than `1,000 crore, as demanded by the state government, to take up relief and rehabilitation measures after cyclone Vardah caused extensive damage. Vaiko requested Modi to prevail upon the SL government through diplomatic channels to give up its plan to levy penalty on TN fishermen's boats seized by them.

Read more at: http://timesofindia.indiatimes.com/...-demonetisation-move/articleshow/56014155.cms

 

[GANESH65]

Taking cue from India, Senate of Pakistan seems to have recommended banning its Rs. 5000/- denominaion currency.

[FONT=&quot]"Pakistan’s Senate Monday passed a resolution seeking withdrawal of high denomination Rs 5,000 currency notes “in a phased manner” to curb the flow of black money, weeks after India demonetised its high value currencies. Senator Usman Saif Ullah Khan of Pakistan Muslim League tabled the resolution that was endorsed by the majority of lawmakers in the Upper House."

However the Government spokesperson of Pakistan has deneid such report and has said that there is no such move from the Government side to ban its currency.[/FONT]

 

[V.Balasubramani]

Taking cue from India, Senate of Pakistan seems to have recommended banning its Rs. 5000/- denominaion currency.

"Pakistan’s Senate Monday passed a resolution seeking withdrawal of high denomination Rs 5,000 currency notes “in a phased manner” to curb the flow of black money, weeks after India demonetised its high value currencies. Senator Usman Saif Ullah Khan of Pakistan Muslim League tabled the resolution that was endorsed by the majority of lawmakers in the Upper House."

However the Government spokesperson of Pakistan has deneid such report and has said that there is no such move from the Government side to ban its currency.

Ganesh Ji,

Here is the news item which is self-explanatory.

Only thing is that there is a mention of word 'Phased manner' which may mean that the withdrawal of notes to take place within three to five years.

Let us wait and to see the developments.

Demonetisation in Pakistan: Senate passes resolution to withdraw Rs 5000 note

According to reports, the withdrawal of the currency notes should take place within three to five years in order to purge markets of the notes.


Pakistan’s Senate Monday passed a resolution seeking withdrawal of high denomination Rs 5,000 currency notes “in a phased manner” to curb the flow of black money, weeks after India demonetised its high value currencies. Senator Usman Saif Ullah Khan of Pakistan Muslim League tabled the resolution that was endorsed by the majority of lawmakers in the Upper House.

The resolution said that the withdrawal of Rs 5,000 notes will encourage the use of bank accounts and reduce the size of the undocumented economy, Dawn reported. It said the withdrawal of the currency notes should take place within three to five years in order to purge markets of the notes.

The move appears to be inspired by India’s recent demonetisation drive, in which notes of 500 and 1,000 Indian rupees were pulled from circulation.

Source: http://indianexpress.com/article/wo...-resolution-to-withdraw-rs-5000-note-4436576/

 

[GANESH65]

:nod::thumb:

 

[Vaagmi]

Someone here is giving me thums down regularly. I earned one yesterday for my post no. 31 in this thread. I will keep posting my score here from now on. LOL. I enjoy.

 

[GANESH65]

This may be the reason for withdrawing restrictions on depositing cash till 30.12.2016! interesting...

http://epaperbeta.timesofindia.com/index.aspx?eid=31808&dt=20161221

 

[mkrishna100]

After 60 notifications by RBI , this pic aptly summarizes government's Demonetisation approach LOL

 

[prasad1]

Mkrishnaji.
Well said.

 

[prasad1]

:nod::thumb:

Even Pakistan is going to do it in phased manner, unlike haphazard manner. LOL.

 

[prasad1]

[FONT=&quot]We are 17 days away from Prime Minister Narendra Modi’s 50-day deadline to end the worst effects of the scrapping of 86%–by value–of India’s currency. In the chest-thumping, hand-wringing and controversy that has ensued since the announcement on November 8, 2016, there has been an absence of facts on the question of re-monetising India.[/FONT]
[FONT=&quot]An extrapolation of 2016 Reserve Bank of India (RBI) data on the capacity of Indian printing presses and currency distribution indicates that, at current rates, the Prime Minister’s deadline will not be met. Getting adequate money to banks and ATMs nationwide will depend on how many bank notes the government wants to put back into circulation.[/FONT]
[FONT=&quot]If the government wants to introduce Rs 9 lakh crore ($135 billion)–or 35% less money than it pulled out–it will take up to May 2017, and if it wants to reintroduce the entire Rs 14 lakh crore ($210 billion) that it withdrew, that could take up to August 2017.[/FONT]
[FONT=&quot]The crux of the problem is change, specifically the Rs 500 note, which India’s presses cannot, currently, print in adequate number.
http://www.hindustantimes.com/india...ml?li_source=LI&li_medium=recommended-for-you[/FONT]

 

[V.Balasubramani]

Even Pakistan is going to do it in phased manner, unlike haphazard manner. LOL.

The other country can do it slowly by taking its own time at least for a decade too. But it is the result that matters.LOL

 

[a-TB]

Someone here is giving me thums down regularly. I earned one yesterday for my post no. 31 in this thread. I will keep posting my score here from now on. LOL. I enjoy.

It is not me. But you were passive aggressive and gave me thumbs down for asking you a question (and I called you out then). You have given more thumbs down than many members. Someone is playing your game, enjoy and yes LOL

 

[auh]

After 60 notifications by RBI , this pic aptly summarizes government's Demonetisation approach LOL

Reply from the govt/rbi

But it is sincere, so it should be pardoned even if it means suffering and devastation to millions. Accidents can happen in this confusion but dont they happen every other day also?

For those who are confused in the current melee of signals, please proceed straight on, we have another set installed separately that would be revealed after the deadline is over. For those who would want to know the deadline, they can know it once they follow the correct set of signals. Once everyone has followed the signals, we will announce what constitutes the correct set of signals. Then depending on the situation, we can ascertain when the deadline was. That is, if possible.

 

[Vaagmi]

It is not me. But you were passive aggressive and gave me thumbs down for asking you a question (and I called you out then). You have given more thumbs down than many members. Someone is playing your game, enjoy and yes LOL

Thanks for the post. I am amused. So I have given a thums up. LOL.
My score continues to remain the same today so far.

 

[Raji Ram]

...... You have given more thumbs down than many members.

But no one can beat the score of the one who gave all the

to me!!

 

[prasad1]

 

[prasad1]