genuine replies and no half knowledge guys here pls pls

[Merabharathmahan]

Congress ki labham. Ee govt potadi future lo. Evarini pattalo vanni pattakunda andariki trouble chestunnadu worst decision

[CNR]

2 hours ago, allu_potato said:

What are the eefects of Demonitisation . what is present effect and future effect. details pls

Demonotisation should never happen at first place .That is really very bad for economy and we are currently seeing the consequences. Since that is already happened and cannot go back.

The only way to get back to normal is release more new currecy notes and lift the withdrawal limit. That way cash will flow back and will be back to normal in a year.

India cannot go digitization overnight it will take atleast 10 to 15 years . India don't have proper digitizations infrastructure, even if we buy we don't have resources to educate prople. This is continuous learning process and need to be implemented by banks not government in longer run.

Government want more tax money it needs more strict policies on business and more resources for auditing purposes. Government should be accountable if they take money and don't deliver the infrastructure back to people.

 

Last but not least - Demontisation effect  should back to normal like above mentioned , if not then at the end poor people wages will go down and salaries for government employees will be cut , every business will be loss entire economy gdp will go down and will be back to 1995 .

 

The only positive affect of demonetisation is people knew now don't elect dictator like modi without family . Theu dont know the values of family or hard earned money. 

 

 

 

 

[allu_potato]

Stop targeting  MODI sir and he is only politician who is doing good for the country.

People will suffer now but for longer term it helps people with low/single income in a household.  All govt employees, politicians, dual salaried empoyees they are killing the society and the country .

People with income, gold, property should be declared and pay tax for the amount they make every year so govt gets revenue out of it and country will be developed.

Next step of Modi will be on GOLD and no one can escape from MODI sir.

 

[Android_Halwa]

27 minutes ago, CNR said:

Demonotisation should never happen at first place .That is really very bad for economy and we are currently seeing the consequences. Since that is already happened and cannot go back.

The only way to get back to normal is release more new currecy notes and lift the withdrawal limit. That way cash will flow back and will be back to normal in a year.

India cannot go digitization overnight it will take atleast 10 to 15 years . India don't have proper digitizations infrastructure, even if we buy we don't have resources to educate prople. This is continuous learning process and need to be implemented by banks not government in longer run.

Government want more tax money it needs more strict policies on business and more resources for auditing purposes. Government should be accountable if they take money and don't deliver the infrastructure back to people.

 

Last but not least - Demontisation effect  should back to normal like above mentioned , if not then at the end poor people wages will go down and salaries for government employees will be cut , every business will be loss entire economy gdp will go down and will be back to 1995 .

 

The only positive affect of demonetisation is people knew now don't elect dictator like modi without family . Theu dont know the values of family or hard earned money. 

 

 

 

 

 

The only reason why this demonetization happened is because, there is no value for anything. not even cloiser.

I have a house..it has two different values..

I bought gold..it has two different values..

I make money by salary..and its barely worth anything..

I bought a house, but bank gave only 40% of the value of the house..and another 60% i had to sheel out from secondary means..

I bought a car..for 15% interest..educational loan at 16%...home loan at 13%...Credit cards at 40%..handloasn at minimum 36%...inflation at 3-4%..

So, thats the problem with India. valuation for legal purposes is different and valuation as per market rate is different and valuation at parallel economy is different...only solution for these problems is to go to a recorded trasaction means..

It would take few years, best case is two years...to get things on track and when these things fall on track, we can see a lot of changes around us. People who think a dictatoir has imposed this rule, they will realised they were wrong later. and will realise they have elected a strong leader who could think of long term monetory goal than short term political gain. You will grow up..but will take time..

There wil be a day where you will also be  abbeneficiary of lower intewrest rates and increased public spending and lower inciome tax slabs and rates, you would be eating those fruits..and still you would be blowing horn that demonetization was bad...

Thats okay. There are two sides of the coin...and one side seems to be shiring brightly than ever before. The other side is really gloomy and people started to make it to shine nbut, its a gloomy one,,

[allu_potato]

 

As far i know land and gold prices is falling down . Source refer (real estate).

They are no buyers no white money so the value of the property falls down as simple as that

[johnubhai]

[RubberBaloo]

2 hours ago, Android_Halwa said:

The biggest advantage is that if not all but majority of transactions will be recorded. 

A recorded transaction in a country like in India where there is no data available because of cash economy, results in some amazing decisions to be taken by the government in the future.

I don't care about black or white money as long as it goes through financial channel and after demonetization, majority of the cash will bein the bank thus makingbanks access to raie cheap capital and distribute cheaper loans resulting in reducing prime lending rates. 

Once can expect monstrous interest rates to be cut by 5-10% in the immediate future and by 20-30% dependig on the performance of economy in the longer run.

More cash in the central system helps government to spend more on public infrastructure resulting in more state spending on infrastructure. The need of the hour is cheaper money to be spent on infrastructure. 

With recorded trasactions, tax evasion will come gradually and tax returns increases by a massive fold. Only 5% Indians pay direct taxes and this rate might increase to 30-40%. A massive increase in tax collections means massive public spending.

All the honest  tax payers will be rewarded. Tax bracket might be increased from present 2.5 lakhs to 4 lakhs and tax slabs may be reduced.

Filing if tax returns by everyone will now become mandatory and this helps citizens to honestly and correctly file their income tax returns as this willbe tied to various financial organisations and it will be considered anytime if you avail loans froms the banks. 

More transaparency in public income will give banks and financial organisation to tap into more and more who never been included in financial system and also gives banks a good idea about individual's financial capacity and offer loans without any collateral hence by reducing non performing assests to the bank and oppurtunity for financial inclusion of the people who never never had access to the banking facilities.

The gains are in long term and they are massive. It is changing the way we used to live and the way we wanted to live. eradication of a parallel economy and gaining good data of the money present in the system.

[Android_Halwa]

9 minutes ago, allu_potato said:

 

As far i know land and gold prices is falling down . Source refer (real estate).

They are no buyers no white money so the value of the property falls down as simple as that

 

So, you mean gold prices are coming down because of demonetization effect ????? Its a lot dependent on international market dude...not local demonetization effect..and one can see lot of selling off gold in the coming months and gold price expected to come down in the next few motnhs and might hover around $1000 an ounce in the next  few years..

and as coming to real estate, its too early and foolish to think prices have come down. Which price you are talking about ? market rate or government rate ? which rate do you use as a base to decide the value now that the black component is restricted ? which one do you use to estimate the property prices ? 

thats why I said earlier, it is going to change the way we used to live and the way we wanted to live. corrupt pasrt practices don't really good at the moment and we need to waut and see for the first round of interest rate cuts to see if the property prices have come down or not really. 

Just because no one are buying in the market now, doesnt mean prices have come down. No one are buying because of uncertainity and no one are selling as black has come down. This is the reason why there is a flat growth in real estate. Not nessasarily means prices going down.

[kakatiya]

people learning how to stand and maintain queues.

people are waking up 5:00am daily without fail.

[CNR]

1 hour ago, Android_Halwa said:

The only reason why this demonetization happened is because, there is no value for anything. not even cloiser.

I have a house..it has two different values..

I bought gold..it has two different values..

I make money by salary..and its barely worth anything..

I bought a house, but bank gave only 40% of the value of the house..and another 60% i had to sheel out from secondary means..

I bought a car..for 15% interest..educational loan at 16%...home loan at 13%...Credit cards at 40%..handloasn at minimum 36%...inflation at 3-4%..

So, thats the problem with India. valuation for legal purposes is different and valuation as per market rate is different and valuation at parallel economy is different...only solution for these problems is to go to a recorded trasaction means..

It would take few years, best case is two years...to get things on track and when these things fall on track, we can see a lot of changes around us. People who think a dictatoir has imposed this rule, they will realised they were wrong later. and will realise they have elected a strong leader who could think of long term monetory goal than short term political gain. You will grow up..but will take time..

There wil be a day where you will also be  abbeneficiary of lower intewrest rates and increased public spending and lower inciome tax slabs and rates, you would be eating those fruits..and still you would be blowing horn that demonetization was bad...

Thats okay. There are two sides of the coin...and one side seems to be shiring brightly than ever before. The other side is really gloomy and people started to make it to shine nbut, its a gloomy one,,

Man you think idiot modi did for people. He did because government is not getting enough money for taxes . He is envy of US or UK government they get lot of money from taxes. 

If you see none of the Chief ministers are talking about demonetisation because they are also hopefull they will get part of the taxed money.

Stop thinking in black and white and don't believe what politicians say. Do your own research and do fact checking .

Politicians want tax money but at the end to get electricity  or water you need to bribe politicians again.

Coming to interest rates banks should have enough money to bring lower interest rates. Here in this case people are waiting for lift on withdrawal limit that way people can withdraw money and In India people don't depend on banks they depend on chit funds and local loan sharks . Iike said in previous post that India is not ready for digitizations, it will take10 to  15 years overnight nothing will happens.

Demontosation is worst thing happened to india economy and we already seeing consequences.

 

open your eyes and see around you. Just don't fall in Modi Trap . He talks lot, think less and zero education 

 

 

 

 

[Tdp14]

Plz man say in one line .. no paras 

[chittibob]

I'm currently in India and after some conversations with people in different occupation sectors, we can conclude that the middle class, hard working, sincere tax paying class of people are happy with this step that the central govt. has taken. People who are into infra development are not at all happy and are blaming Modi for stopping the inflow of cash in to the economy. They are mad because they are now having to report all their income to the govt and start paying hefty taxes unlike before where they were siphoning cash and investing it into lands and not reporting it to the govt. 

A lot of people are discussing as to how real estate values will lower due to this step. The prices will lower for open parcels of land and also homes. This is because you will have to transact based on the present market value of the property and a government official will provide an estimate of the building. The bank will lend you a loan for the amount the govt decides and you pay stamp duty on that amount which in turn will be reflecting in your it returns. Even if the builder asks you for 40-50% in unaccounted cash, you and him will be under the IT scanner for making such a huge unaccounted transfer. Also, if you withdraw cash to pay him in cash, you will be questioned by the IT officials as to where that huge amount of money was spent and why is there no accountability.