Accordingly Prime Minister Narendra Modi's speech on demonetization made it clear that their target was to "wipe out black money" and route the currency back into the system. He added "To break the grip of corruption and black money, we have decided that the five hundred rupee and thousand rupee currency notes presently in use will no longer be legal tender from midnight tonight, that is 8th November 2016”.meanwhile the five hundred and thousand rupee notes hoarded by anti-national and anti-social elements will become just worthless pieces of paper.
Presently, two years after demonetization, neither could black money be removed nor could the economy improve. Furthermore according to a survey by Local Circles, a whopping 60% of Indians said that black money in the country has not died and in fact, its circulation is going to only increase before the 2019 General Elections.
Moreover in fact, the economy took a sharp knock from the cash crunch, with growth sliding to as low as 5.6% in the quarter through June 2017. Furthermore another growth setback came last year when the government introduced the Goods and Service Tax, which was marred by glitches and disrupted business activity, but, the Union government still believes that and Arun Jaitley said "Demonetization is a key step in a chain of important decisions taken by the Government to formalize the economy”.
Has Money played major role in Telangana Elections? According to sources in a Democracy, it holds true for elections too, where you can not only buy people what they like or eat, but you can also buy their vote just by appeasing them. Meanwhile in the recently concluded Assembly elections in Telangana, money seems to have played a major role, say political observers. They added like never before, money has been spent and distributed across Telangana.
- KCRs risky decisions in times are fruitful
- Ranil Wickremesinghe takes oath as Sri Lanka's PM on Sunday
- Why Anushka Shetty missing away from limelight?
- IndiGo Flight from Mumbai to Lucknow grounded due to Bomb Threat
- IFF kick-started in Chennai
- Nepal Govt banned usage of Indian Currency Notes
- Banks be closed for 5 Days due to Merger
- Has Harish Rao's post given by TRS Party Supreme KCR?
- TRS party considering giving a representation to EC regarding symbol issues
- 13 Miners trapped in Coal pit yet to be rescued
- Donald Trump's son-in-law short listed for President's next chief of staff
- Rehana Fathima gets a bail and ban!
- BJP to focus on caste based votes!
- BJP corners Rahul Gandhi now!
- TTV Dinakaran wishes Senthil Balaji!