The demonetization of ₹500 and ₹1000 banknotes can curb the black money. What's your opinion?
as per my concern it is not possible only by demonetization we can eradicate black money because as long as money which are not always dumped only as cash, it may invested shares,gold, land,and investment by donating Ngo black in to white.
there should be a structural process which has to be framed out and it should be important to restrict certain norms regarding investments both in foreign countries and within domestic one with restricted amount if these are regularized first with proper rules and amendments then demonetization can be done.now the current problem we are facing by implementing demonetization as first step only middle class; people below poverty line are suffering and those who really creates black money are silently making in to white using black market operates specially for this. but an individual earning daily wages suffering and starving for food and day to day needs.
and the most important think till today india is lacking financial inclusion.not all the members in the family having bank accounts, and daily earners are not interested to open bank account.
If African countries such as Somali and Kenya are able to progress in cashless economy, India has a even better prospects.
http://www.totalpayments.org/2013/07/08/top-5-cashless-countries/
as per my concern it is not possible only by demonetization we can eradicate black money because as long as money which are not always dumped only as cash, it may invested shares,gold, land,and investment by donating Ngo black in to white.
there should be a structural process which has to be framed out and it should be important to restrict certain norms regarding investments both in foreign countries and within domestic one with restricted amount if these are regularized first with proper rules and amendments then demonetization can be done.now the current problem we are facing by implementing demonetization as first step only middle class; people below poverty line are suffering and those who really creates black money are silently making in to white using black market operates specially for this. but an individual earning daily wages suffering and starving for food and day to day needs.
and the most important think till today india is lacking financial inclusion.not all the members in the family having bank accounts, and daily earners are not interested to open bank account.
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