Congrajulate Modi for economic policy?

AFAIK BJP have not traditionally had their own economic policy and have just continued on a track of policy defined by the previous government. I don't think you can really congratulate someone for that.

Yes, then you must congratulate no leader on this world then, as no ideas are original. Why Modi has gained respect with youth is, he was able to take stubborn decisions like Indra Gandhi.

@karthikeyanak Agree on pushing hard for the land and property reforms but be wary of these reforms, they may lead to headlines like "2% of rich foreigners own 90% of Indian Property" a bit like:
https://www.ft.com/content/605cdea2-fb69-11e2-a641-00144feabdc0

I don't say foreigners, but I say 2% of Indians, and ofcourse they must be rich. The two things that led to real estate bubble were black money and NRI investment. This demonetization, economist say will lead to 30% in real estate price reduction. Thats about saving 6years of a mans life if he would take mortgage for 20 years.

If eliminating black money is true interest, gold and land must be touched. It won't eradicate all black money people, but will hit some of them.

When society becomes cashless, we can use big data to find culprits (only government will have sufficient data to do that) . If India adopts bitcoin, then all will know what goes where and we can trace things out.

when i heard about the news of demonetization for the first time i actually supported it. but later on seeing how it affected people and questioning how effective it really is made me change my mind. it may be a decision with good intention, but of course a bad implementation.

if this article is reliable it clearly explains how ineffective the demonetization policy is.

We are then left with about Rs 58,200 crore as the net gain for the government – not even a third of the original expectation.

It is interesting to note that Rs 58,200 crore will be only twice as large as the money collected through the earlier voluntary disclosure scheme for black money that closed on September 30 this year and raised Rs 29,000 crore – and this was an exercise that did not involve bringing the entire economy to a near- standstill.

So far, we have come to two important realizations: (a) Notebandi is now not a war on corruption, but is rather a welcome-arch for black money holders to convert their cash stash into legally white money; and (b) the bonanza that many saw on November 8 is likely to remain a mirage.

government made people all over the nation suffer for these? what about the people who lost their lives?

http://www.huffingtonpost.in/2016/11/15/33-demonetisation-deaths-in-7-days-hospital-casualties-suicide/

http://mashable.com/2016/11/16/india-people-dying-demonetization/

@karthikeyanak you still think we should congratulate modi?

Yup, black money is more dangerous to us than terrorism. Perhaps the demonetization has failed, but I wish government should cast more nets and trouble people who has illegal wealth.

@karthikeyanak and how about this http://indianexpress.com/article/explained/demonetisation-internet-banking-digital-payments-cashless-transactions-economy-4415810/ ? It would be even worse than China or Iran if we were cashless and depend on the internet even for buying essential stuff. Shut down the internet, shut down the mobile networks and you are royally screwed. Do you trust this govt to not use that much power? Have you not learned anything from history?

I think demonetization as a concept is a nice idea in theory but one can argue that it is very much premature to congratulate Modi on his scheme.

1. Effect on non documented Citizens

I was on the ground the day it was announced. Visiting my brother in a remote place called Bijapur. Since i was traveling to a remote location, i tend to keep cash with me and so i had a few 500/1000 notes with me for emergencies. I decided to go to the bank and try and get some money for travelling back to Bangalore as ATMs were closed. When i was standing in line, i saw few people talking with security guard of the bank. After they left i asked the guard what the people wanted, he said that each bank was told to only handle people who have accounts in their bank and that those people were gypsies or travelling people. They don't have accounts in any bank as they keep travelling around India doing work like construction work etc. They have no permanent address, no proper education. For all effects and purposes they arent even legal citizens as they don't have a voters card (maybe some have an Aadhar card but also rare). These people's entire life saving have been wiped by demonetization. Do we just stand by and ignore this as "collateral damage"?

1. Lok Sabha Drama

http://www.dnaindia.com/india/report-lok-sabha-again-witnesses-disruptions-over-demonetization-2281244
Maybe RBI has authority to implement such a scheme, but the Lok Sabha represents (however grudgingly) the voice of the people. It is where we should be able to pass a law requiring banks to keep enough cash in stock in the ATMs, keep staff overtime,

force private hospitals to allow for deferred payment in these times.

1. No Solution for a Post Demonetization World

Really what is the solution? I dont use Auto's anymore because my 100s are too valuable. Uber cars seem more convenient as they have direct pay from my credit card. I have tea only when i have a few coins in my pocket, and i buy things only where i can swipe my card. What is the solution though? I would argue against Bitcoin and any similar cryptocurrency for the very obvious reasons that @praveenarimbrathod has mentioned.

How do we pay the chaiwalla without breaking the precious 100Rs note?

Demonetization has happened. We need to look forward and figure out a solution to help the bottom of the pyramid as they are the most affected by this.

Our (SWARAJ INDIA - a political party, in the process of getting registered with ECI) stand on the issue: We demand that along with the demonetization move, the Government should announce the following measures:

1. A robust system to identify and confiscate the black money that is stashed in the form of benami properties, shares and gold.

2. A ban on “tax havens” like Mauritius and P-Notes that are used to convert black money into white money.

3. For stopping use of black money in politics, political parties should be brought under ambit of RTI; BJP and all political parties should be made to disclose all details of cash donations; and Congress and BJP should be penalized for accepting foreign donations.

4. In the current session of Parliament, the conspiracy to make the anti-corruption laws ineffective should be stopped by consensus of all political parties.

5. For independent inquiry into corruption in high offices, appointment to the posts of Lokpal, which has remained vacant for past two and half years, should be done immediately.

6. All black money recovered from the demonetisation exercise should be utilized for social security expenditure for creating assured income for farmers and unorganized labour.

https://www.swarajabhiyan.org/content/news/382

BJP, Congress and most of the regional parties have no interest in getting rid of BLACK MONEY. These parties and their funders are the main BLACK MONEY holders.

My opinion is changing a bit, though it may be a good idea, implementation seems to be crap. I have run out of money and don't know what to do. So does many people.

I feel Modi must have planned properly but he hasn't, he has failed miserably this time https://youtu.be/YqwVOWYJSxw

Yes but it should be in a structured manner. See https://en.wikipedia.org/wiki/Filibuster.
Whats happening in Lok Sabha the last week is just chaos.

AIB at its best as always https://www.youtube.com/watch?v=YqwVOWYJSxw

@ambadyanands can you add this statement on our website? Once we post it on the website, we can share the link from our social media accounts and spread it widely.

These are good generic anti-corruption demands.

The demonetisation itself is a devastating strike on India's economy. The ideal action here should have been not doing it and post that, ideal action all through should have been reversing it. We have enough of the old notes and no way to print near enough of the new ones for a few months at least.

It was a garbage plan and hideously implemented. Redistributing wealth will not do much when the move itself has stripped the poor of a lot of wealth by state decree. The losses in jobs and small business incomes are not going to be recovered easily. How much money will be given as "handouts"?

The proposal misses the main demand. Modi, Jaitley and Urjit Patel must resign.

Now we should update our social media accounts.

Interesting rant by Nikhil Pahwa http://www.medianama.com/2016/12/223-year-end-rant-2016-technology-has-never-been-this-political-in-india/

CBI should probe source of new currency notes seized by IT: Bank union https://in.news.yahoo.com/cbi-probe-source-currency-notes-seized-bank-union-150804799.html

There is plenty of 2000 rupee notes available to black money holders, only common people are suffering. There is no effort from the government to catch the criminals in the banking system. It only shows they have put enough loop holes for the big black money holders. But most people won't read the fine print or media will not ask these questions. So govt will get benefit of the move from large number of population who are willing to "sacrifice" for the country and are naive to trust the government.