Currency Demonetisation and Future course of Indian Economy

[UlanBatori]

Suhasini Haider, diplomatic affairs editor of The Hindu decided to take it a step further by going international with her reporting and interviewed Greece’s alternate foreign minister Mr George Katrougalos of the ruling Syriza party.

Ppl have not savored the sheer pakistaniyat in an Indian editor going to get reactions from a Minister of GREECE as advice to Indian government on how to ru(i)n the economy. Next: French-Pakistani Minister on how to win wars.

[Rishi Verma]

Psst..Strange termilogy

Cardiac Arrested

That term means natural life over, hain?

Saar it's a you-femism for "literally heart-broken"

[UlanBatori]

I thought it is the Cardiac Surgeons etc that are in extreme danger of arrest. Have you seen "Spies Like Us?"

[Dipanker]

"As farmers struggle to work their fields, traders run into losses and workers go unpaid, the euphoria over PM Modi's black money purge is fading."

Havoc in the hinterland

This is karan thapar and aroon puri team....

Yes, reporting was similar in the most of the MSM or what is considered MSM.

[Suraj]

I still don't get the ' modi should do this first, modi should do this next, modi should bring the bat down at right angle with front foot forward and head still blah blah "...

I am just enjoying the hits to and over the fence after a long period of ones and twos.

Very well put.

[shyamal]

This is karan thapar and aroon puri team....

Yes, reporting was similar in the most of the MSM or what is considered MSM.

Read/Watched with care MSM for the beginning 2-3 weeks.
The bias and lies are so great that even I was astounded. They were reporting chaos and disaffection where I know first hand that no such thing took place.
I just browse through them now. Just for the facts.

Maybe the authors of these articles are correct and everyone is starving and dying only because of demonetization. But they have printed so many blatant lies earlier that I would not bother to read them even to check what they are printing this time. And I know many people like me who have similar feeling for anything published in MSM.

[Kamal_raj]

Wow huge money , Thanks , must be the black money of netas and industrialist

That is most possibly a fake just to get into news.

[Rishi Verma]

Modi is his last speech (Muzzafarabad - or one of those adharmic names) said that he was watching TV where a reporter was asking leading questions to people in a bank queue to try to elicit a negative response but non did. Finally the reporter admitted on camera that despite the hardship people are smiling and waiting. So modi knows the lies and biases being attempted by thappad, sirdesai, burkha, ...its just that people are not buying it

[Gus]

Suhasini Haider, diplomatic affairs editor of The Hindu decided to take it a step further by going international with her reporting and interviewed Greece’s alternate foreign minister Mr George Katrougalos of the ruling Syriza party.

Ppl have not savored the sheer pakistaniyat in an Indian editor going to get reactions from a Minister of GREECE as advice to Indian government on how to ru(i)n the economy. Next: French-Pakistani Minister on how to win wars.

Asked her in teetaar if she lied and she actually replied to me as No. Then asked her why issue correction and if Greek is lying - no reply

[vijayk]

She is in pissful camp for long time. Don't blame SS for her lies. She is married into privileged Congi sickular family. Thoroughly brainwashed. If it means she can hurt Modi and RSS, she will be ready to give approval to second wife for her husband. These people are so hateful to their own self in their hatred of Hinduism.

There is another Hindu paki specialist. Same Tam Bram who hates Modi with every cell. Forgot her name

[yensoy]

She is in pissful camp for long time. Don't blame SS for her lies. She is married into privileged Congi sickular family.

She is Subramanian Swamy's daughter no? The same person who said recently our objective should to break up Pakiland into 4 parts?

[shiv]

I installed ICICI Pockets earlier today after much researching. I have an ICICI account as well. Everything appears OK - charged it with a token 1000. Let's see..

FWIW...you don't need to charge it with money if you don't want to. You can make payments through it directly against your bank account.

Charging money is useful for some additional things, like if you want to use the virtual Visa card, or get a physical one against the Pockets wallet/account. Some people do this for additional security so that they don't have to give out their usual debit/credit cards to online sites or physical shops. For example, if your weekly usage on your debit card is Rs 5000, you could just load the wallet with that much and use your pockets card for transactions, so if it is lost or compromised that is all that is at risk.

No the charging is useful to me because I don't have to carry my wallet or cards when I travel by bus. Misuse option is limited to what's in the wallet and my options are limited to losing my phone.

That aside:
Canara Bank UPI "Empower"- non functional
ICICI bank UPI "Pockets" working but still no use for Uber

So I installed Paytm. Paytm was a bit of a pain - the phone user interface is not that good and gave me error messages. Eventually went online on a PC and registered and then reinstalled on phone and then used ICICI pockets to transfer money from latter to Paytm.

[vijayk]

She is. Trust me when I say don't blame him for her attitude. They get brainwashed in schools/colleges and fall into a trap. They turn into self loathing types. Slippery slope. Some get out but some won't. Some use it as a career ladder. This attitude to India gets rewarded by liberals all over the world including Indian media and any adherence to truth/nationalism will kill all your chances.

[Gus]

I don't think suswamy was 'hindutva' when his kid was growing up..he himself was moving in congress circles a lot ..

[Gus]

Who wants to barf a bit in the morning?

From NDTV

New Delhi: Delhi Chief Minister Arvind Kejriwal today said that if demonetisation would "eliminate" corruption and black money, he would chant "Modi, Modi" while reiterating his demand that the Prime Minister withdraw it or else the country's "economy will be destroyed".

Mr Kejriwal said the Prime Minister changes his clothes several times in a day but he preaches to people to sacrifice sometime due to demonetisation.

"Due to demonetisation, labourers, farmers and traders have been ruined and people are losing their jobs, but PM is busy with changing dresses several times. Modi ji whatever you say, you should implement it first on you," he said.

[GShankar]

I don't know how much of the "words" that get published are her own and how much from any overseeing editor. After all it is chindu and they have but one motto.

[sum]

"Due to demonetisation, labourers, farmers and traders have been ruined and people are losing their jobs, but PM is busy with changing dresses several times. Modi ji whatever you say, you should implement it first on you," he said.

Either the guy has gone full retard or there is something Chank-ian in this game-plan which simple folks like me cannot decipher.

Since i cannot imagine what sense this statement is supposed to make and who is supposed to cheer in support of it ( other than the usual suspects)

[Thakur_B]

I believe the government misread the laundering capability of the market and in its hubris did not introduce VIDS part 2 till 20 days had passed. A missed opportunity for the government.

Corrupt branch managers were approached by people having hundreds and thousands of IDs and personal data (CAs, insurance agents, your neighborhood sim card dealers) and bulk transacted exchanges using those IDs.

The branches selected for such dealings were generally rural / semi urban with a small close knit staff.

Happened in pvt as well as PSU banks.

This is the reason why people are getting caught with serialised new notes, because they came straight from the bank.

[vina]

ICICI bank UPI "Pockets" working but still no use for Uber

Oh, you CAN use Pockets with Uber and Ola. All you have to do is check the "Card" option in Uber & Ola and enter the visa card detials associated with Pockets and you can use it in every place where a card is accepted, including online.

That way, you dont need to have multiple wallets (Uber - PayTm, Ola - Ola Money) which in many cases cant be used online and in other places as well.

That associated card number and visa is I think the best feature of Pockets. Also, if you are an ICICI bank customer, the UPI is part of the iMobile app.

[Gus]

I am sure there is some leakage at bank...the pressure must be enormous, especially on managers who might have colluded in the past.

But the cash transfer window is gone and even that had a few thousands limit per person. How many fake IDs can u put in the system without getting caught?

[shiv]

ICICI bank UPI "Pockets" working but still no use for Uber

Oh, you CAN use Pockets with Uber and Ola. All you have to do is check the "Card" option in Uber & Ola and enter the visa card detials associated with Pockets and you can use it in every place where a card is accepted, including online.

Did not work for me. That is why I was forced to install Paytm. Uber does not recognize that number as a valid Visa card. Have you actually tried it for Uber specifically?

I do not like parking my credit card numbers in various online portals and that is why I thought the Pockets Visa would be a good idea. I spent about 4 hours (during a wedding yesterday) trying all sorts of tricks to get money from pockets to Uber, including the Pockets Visa card which I tried several times. No go

[shiv]

I believe the government misread the laundering capability of the market and in its hubris did not introduce VIDS part 2 till 20 days had passed. A missed opportunity for the government.

Corrupt branch managers were approached by people having hundreds and thousands of IDs and personal data (CAs, insurance agents, your neighborhood sim card dealers) and bulk transacted exchanges using those IDs.

"Hubris" is the attribution of your interpretation of emotion to a government act. The word changes the tone of the message - to perhaps something that you intended.

While what you say is one possible explanation there is another. The government probably anticipated that millions of people would have undeclared cash ranging from 50,000 to maybe 50 lakhs. Those who had money in smaller amounts (less than a lakh or two) probably saw no point in going for VIDS 1 and thought they would retain the money. Until demonetization Those who had money in tens of lakhs would have benefited somewhat by spreading the loot into other accounts. But either way the demonetization move has swept them all williy nilly into the banking system. These are probably the people who rushed to pour what they could and retain something after tax. But those who had tens, hundreds or thousands of crores would have found it difficult to catch hundreds of small account holders. Some would certainly have done so - but there is likely a lot of cash sitting around still. VIDS 2 was only an incentive and a warning. Those who get caught later will get into a hotter soup.

That aside I am sceptical of the overused theory idea that Black Money is not hoarded but always converted to property,gold or something else. In my view ALL people who have converted black money into property or gold will ALWAYS have a stash of liquid money to do further deals. You cannot do black transactions without cash. When these people are caught - all the property and gold of their family and friends is going to be looked at carefully.

[Gus]

People may buy property, gold with BM, but whoever is selling it - especially land - is still holding it as BM.

I've seen how an acre land went from 5 lac in 2000 to around 40 lac now. At the same time everybody is crying farmers are dying. Surely the return from agri is not justifying 40 lac an acre.

[shiv]

The secular political equivalent of "OM" is "poor people are suffering"

For example

Om
Gananjayaya namah
Om
Ganapateya namah
Om
Dharanidharaya namah
Om
Herambhaya namah
Om
Lakshpradhaya namah
Om
etc..

So we see

poor people are suffering
Monsoons
poor people are suffering
Summer
poor people are suffering
Modi elected
poor people are suffering
World cup victory
poor people are suffering
Girl wins golf trophy
poor people are suffering
Demonetization
poor people are suffering

[Yagnasri]

Cash is always a must. Required for day to day working by politicos, business people, dalali and criminals. RE will not give liquidity required. Further, where is the guarantee that RE is not going to be "attended to" by NM??? He already said that this is only a first step. With no cash, the ability to organise and manage anything at a short notice is hampered. People are to be paid and paid large sums of money in cash to do these things. Just like NGO things are "managed" at the first instance itself and ensured that there is no large scale and well-managed effort to control the narrative. NM is fighting the war continuously/.

[Picklu]

Can this news be true?

http://pib.nic.in/newsite/PrintRelease. ... lid=154873

Verification of High Value Suspicious Declarations made under the IDS 2016

An Income Declaration Scheme (IDS) was announced in the Union Budget 2016-17 under which declaration of undisclosed income or assetcould be made by agreeing to pay forty five percent (45%) of the declared amount as tax, surcharge and penalty. The scheme closed on 30th September,2016.

On 1st October, 2016, it was announced that declarations totalling Rs. 65,250 crore were received from 64,275 declarants, subject to reconciliation. After final reconciliation the revised figure of actual declarations received and taken on record was Rs. 67,382 crore which had been made by 71,726 declarants.

Among the declarations received, there were two sets of declarations of high value which were not taken on record in the above figure because these declarations were found to be suspicious in nature being filed by persons of small means. A family of four declarants namely, Mr. Abdul Razzaque Mohammed Sayed (self), Mr.Mohammed Aarif Abdul Razzaque Sayed (son), Shrimati Rukhsana Abdul Razzaque Sayed (wife) and Ms.Noorjahan Mohammed Sayed (sister) who were shown as residents of Flat no. 4 , Ground Floor , Jubilee Court, 269-B, T.P.S-III, Linking Road, Bandra (W), Mumbai, filed a total declaration of Rs. Two lakh crore (Rs. 2,00,000 crore). Three out of the four PAN numbers were originally in Ajmer which were migrated to Mumbai in September 2016, where the declarations were filed. The other declaration was filed by one Mr. Mahesh Kumar Champaklal Shah resident of 206, MangalJyot Tower, Jodhpur Gram Satellite, Ahmedabad for an amount of Rs.Thirteen Thousand Eight Hundred and Sixty crore (Rs.13,860 crore).

These declarations from Mumbai and Ahmedabad were kept pending for investigation about the genuineness of the same and were not included in the total value of declarations announced on 1st October, 2016. After due enquiry, it was found that these declarants were persons of suspicious nature and very small means and the declarations could have been misused.

Therefore, after due consideration, the Income Tax Department decided by 30th November, 2016 , to reject these two sets of declarations of Rs.Two Lakh Crore and Rs.Thirteen Thousand Eight Hundred and Sixty Crore respectively. The Department has since commenced enquiries against these declarants to determine the intention behind these false declarations.

I want to ask ShauryaT types as they are claiming that all the money has been laundered by BMers, then how come such ridiculous amounts are being brought desperately as 31st approaches?

Ok, not ShauryaT and not anywhere close to his position on DeMo issue but a regular Indian with regular "Satyameb Jayate" khujli......

Both 13k and 2L crore declarations were part of VIDS1.0 which ended on 30th Sep before DeMo.

So, these declarations definitely do not prove DeMo is working or trail balloon of big fishes post DeMo etc etc..

[hanumadu]

Can this news be true?

http://pib.nic.in/newsite/PrintRelease. ... lid=154873



I want to ask ShauryaT types as they are claiming that all the money has been laundered by BMers, then how come such ridiculous amounts are being brought desperately as 31st approaches?

Ok, not ShauryaT and not anywhere close to his position on DeMo issue but a regular Indian with regular "Satyameb Jayate" khujli......

Both 13k and 2L crore declarations were part of VIDS1.0 which ended on 30th Sep before DeMo.

So, these declarations definitely do not prove DeMo is working or trail balloon of big fishes post DeMo etc etc..

Yeah, these were before sep 30 and these filings were rejected. They were also not included in the final tally of disclosure which is 67k crore plus.

[Picklu]

That aside I am sceptical of the overused theory idea that Black Money is not hoarded but always converted to property,gold or something else. In my view ALL people who have converted black money into property or gold will ALWAYS have a stash of liquid money to do further deals. You cannot do black transactions without cash. When these people are caught - all the property and gold of their family and friends is going to be looked at carefully.

Agree - a part of BM would always be in cash.

However the reverse is also true. Whoever has cash BM would definitely have a significant part of RE and gold BM as well. Hence even with 100% loss of cash BM, a large part of them MAY NOT come clean under VIDS2.0 & take chances. Post DeMo, the RE & Gold BM are more illiquid no doubt but we are dealing with human psychology here and the notion of having them, even in illiquid form, creates the sense of power. Note the crap TKiran is spreading here on one side claiming not ready to pay any tax as it is extremely difficult to make money in business but on the other hand bragging about his diwali celebration extravaganza.

That is why I said that the success of fight against BM from the DeMo phase will ultimately boil down to the resilience of the HONEST section of the IT dept.

It would be a painstaking uphill battle to catch the BM holders where their paid CA, lawyer etc would first work hand in hand with the corrupt part of the system and finally litigate each and every step in our 'fair & quick' court of law.

[ShauryaT]

Ok, not ShauryaT and not anywhere close to his position on DeMo issue but a regular Indian with regular "Satyameb Jayate" khujli......

Both 13k and 2L crore declarations were part of VIDS1.0 which ended on 30th Sep before DeMo.

So, these declarations definitely do not prove DeMo is working or trail balloon of big fishes post DeMo etc etc..

Yeah, these were before sep 30 and these filings were rejected. They were also not included in the final tally of disclosure which is 67k crore plus.

The original poster is on my ignore list. Saw this now. Others have responded to the query so nothing to add on that score. But on VIDS, it is instructive to compare. The 2016 scheme with 1997. In 1997, nearly 500,000 declarations were made with a total of 33K crore then. The 2016 scheme had only about 70K, netting 67K crore. Comparatively the 2016 scheme was failure, comparatively - assuming the BM has multiplied exponentially since then. Also 90% of the money came from less than 5% of the declarations in 2016. Anecdotally, I know many who did declare under the 1997 scheme but later regretted the decision and reverted or have under reported and continued to generate BM (avoiding taxes only).

Also, BTW: to the original poster, if you have to quote me at least quote me accurately. Never said ALL the money has been laundered. But yes, I have great confidence in the Indian peoples being able to do so in large measure and avoid the tax net, which if the concluded VIDS is anything to go by will repeat again. GoI can keep on trying and this cat and mouse game will go on.

[sooraj]

Rs 55-crore deposit from Bulgaria lands Kochi man in ED soup

KOCHI: The enforcement directorate (ED) has launched a probe into a city firm receiving Rs 55 crore from Bulgaria-based Zevzda, a vegetable oil supplier, in July. The amount was credited to Elamakkara resident Jose George's account in SBI's Wellington Island branch as letter of credit.

George withdrew Rs 30 crore soon after the money was transferred by a Bulgarian bank. He has been operating a licensed export firm, Trade International.

The withdrawn money was deposited into his relatives' accounts. Besides, the firm had not exported anything to Bulgaria, making ED suspicious.

They also added that the deal might have been done in violation of the Foreign Exchange Management Act. The ED asked George to submit documents related to the shipment to the Bulgarian firm as the amount was transferred in the form of letter of credit. The bank handed over the documents George had to the customs for verification. The shipping bill and the customs' checklist did not mention any shipping undertaken by his firm.

"The accused seems to have forged a shipping bill to withdraw the money ," a customs official said. The case was referred to ED as the letter of credit transfer had happened even before the export took place. "Trade International has made only a single export of sunflower oil, to Iraq in May , 2016.The company received order from Zevzda for exporting sunflower and sugar in May this year," an ED official said.

"The export order was mas sive. With the infrastructure of Trade International, it was impossible to execute such a deal.Usually , the letter of credit is encashed only after the shipment is completed," the official said.

"Any licence holder can enter the export details in the customs checklist but this will get invalid if the goods are not presented for inspection within 15 days. The accused, however, might have forged the customs seal to show that the shipment had happened," he added.

After ED found forged customs seal claiming that goods have been shipped from Kochi, the department froze the account to which the money was transferred. The accounts of George's relatives were also frozen.

Even though ED contacted Zevzda, it was yet to cooperate with the agency, officials said."The Bulgarian company is not willing to file a complaint. Hence, we suspect that the money was sent for some other purpose," the ED official said.

ED conducted a search at George's office in Elamakkara."Trade International is running from a rented apartment next to George's residence. Apart from a few emails sent to unknown persons, we couldn't find any ongoing activity in the company with only four employees. Statements of Jose George and his relatives were recorded. George used to be an NRI who returned to Kerala a few years ago," officials said.

Meanwhile, the Harbour police registered another case, under IPC Section 420, against George for forging fake shipping bills with an intention of cheating the customs.

[shiv]

it is instructive to compare. The 2016 scheme with 1997. In 1997, nearly 500,000 declarations were made with a total of 33K crore then. The 2016 scheme had only about 70K, netting 67K crore. Comparatively the 2016 scheme was failure, comparatively - assuming the BM has multiplied exponentially since then. Also 90% of the money came from less than 5% of the declarations in 2016. Anecdotally, I know many who did declare under the 1997 scheme but later regretted the decision and reverted or have under reported and continued to generate BM (avoiding taxes only).

Shaurya - please don't mind my saying this. A's son failed his school exam and got only 30% marks. But B's son failed the same exam and got just 15%. So A said "Compared with B's son, my son is a relative success"

You see rhetoric is no substitute for the fact that no single move will be successful. Please remind me what was the follow up move after the 1997 demonetization?

[ShauryaT]

it is instructive to compare. The 2016 scheme with 1997. In 1997, nearly 500,000 declarations were made with a total of 33K crore then. The 2016 scheme had only about 70K, netting 67K crore. Comparatively the 2016 scheme was failure, comparatively - assuming the BM has multiplied exponentially since then. Also 90% of the money came from less than 5% of the declarations in 2016. Anecdotally, I know many who did declare under the 1997 scheme but later regretted the decision and reverted or have under reported and continued to generate BM (avoiding taxes only).

Shaurya - please don't mind my saying this. A's son failed his school exam and got only 30% marks. But B's son failed the same exam and got just 15%. So A said "Compared with B's son, my son is a relative success"

You see rhetoric is no substitute for the fact that no single move will be successful. Please remind me what was the follow up move after the 1997 demonetization?

Administrative reforms were never followed through and in fact the trust deficit only widened under UPA rule. This is a demand pending since the 90's. There are still no signs of it. Agree - no single move will determine success. Some moves, such as demonetization are radical moves alright but their outcomes are up for debate. We will know in a few months. Switching gears from demonetization to cashless from the bully pulpit is unlike waving a wand that was possible for the currency move. I fear people who fall for these gimmicks - which all politicians are guilty of, takes away from the real work that is to be done.

[rahulm]

In my local adda, a hole,in the wall that sells tasty fried crap, a regular bunch of locals meet in the evenings and talk in whispers at the back.

Body language and faces are getting grimmer as the end of December approaches. Sometimes, I sit with them, a non smoker in a dense fog of cheap cigarette smoke and listen and nod while drinking lemon tea with the occasional mirchi pakoda.

The talk is full of venom and hate for Modi as they see their ill gotten wealth slowly evaporating. They are adamant about not depositing the old currency in the bank and seem to be clinging on hope that a miracle will happen and their notes will become legal again.

In Goa, pretty much everyone is a commission agent. Here, if you are an outsider as in from out of Goa, you are seen and fair game to be looted. The village folks while polite are the loya jirga and as an outsider, you are expected to pay jiziya in the form of awarding contacts to people the Sarpanch will specify. This is the hafta that is expected of you.

These hafta and jizya collectors are now squirming as their ill gotten wealth from bribes and commissions and sale of land is vanishing into thin air before their very eyes.

One of the cheap cigarette smoking worthies - a commision agent is walking around with wads of old notes trying to persuade a hospital in Mapusa to accept his worthless tender for the delivery of his grand child. With no luck. He has a lot of money but all BM.

He asked me if I can help him pay paying the hospital online directly. I said I can xfer into his account and he can then pay the he hospital any which way he wants, an offer he declined.

He then asked if I can withdraw cash in legal tender from my bank and give him. I refused. This man has the gall to ask metoconverot my WM into BM for him.

BM holders are squirming and I am loving it. Another mirchi pakoda for me please.

[Sridhar K]

There are people who have built houses to hoard cash.My mom's bank used to sell Gold at the counter in late 90sand had connects with a lot of Jewellers. Had seen sacks of cash that gets thrown into the rooma every evening. Bank officers were asked to come home, count the sacks, do accounting and get paid a sack every month. Every manager ended up buying 2 new houses during their tenure through the services rendered.

My earlier reference of my chaiwala's employer who had asked employees help in converting 75 cr into white has a house to hoard cash. He has managed to bully his suppliers and vendors to take up 40 crs of cash. His employees salaries are on hold including my chaiwala whi did not take the offer of 2.5 lakhs loan.

A doctor who came to buy my dads i20 was willing to pay 50k premium for the car if we took the 500 rs note.

As Shiv says, it is all hogwash if one says that BM is not hoarded as cash. Yes there is significant chunk that is illliquid but the black economy runs on cash.

[Marten]

Poof.

[Yagnasri]

Seen SBI ATM in Mumbai. Working. No rush. Most of the businesses are running in the city.

SS girl's hubby said to be useless fellow and lives on wife income. Son of Salman Haider who was an ex F.S. in our MEA.

[hanumadu]

Yeah, these were before sep 30 and these filings were rejected. They were also not included in the final tally of disclosure which is 67k crore plus.

The original poster is on my ignore list. Saw this now. Others have responded to the query so nothing to add on that score. But on VIDS, it is instructive to compare. The 2016 scheme with 1997. In 1997, nearly 500,000 declarations were made with a total of 33K crore then. The 2016 scheme had only about 70K, netting 67K crore. Comparatively the 2016 scheme was failure, comparatively - assuming the BM has multiplied exponentially since then. Also 90% of the money came from less than 5% of the declarations in 2016. Anecdotally, I know many who did declare under the 1997 scheme but later regretted the decision and reverted or have under reported and continued to generate BM (avoiding taxes only).

Also, BTW: to the original poster, if you have to quote me at least quote me accurately. Never said ALL the money has been laundered. But yes, I have great confidence in the Indian peoples being able to do so in large measure and avoid the tax net, which if the concluded VIDS is anything to go by will repeat again. GoI can keep on trying and this cat and mouse game will go on.

The tax rate in 1997 was only 30% compared to 45% in 2016. The 1997 rate was not fair to the people who paid their taxes promptly. Why be so hasty in comparing the outcomes until Modi is through the entire steps he proposes to take?

[TKiran]

We are not sure if the origin of corruption is business people or executive machinery or the political parties. But there is some truth in what TKiran and Rishirishi are saying.
Instead of maligning corrupt business practices the next steps should focus on how to improve the compliance part. There are so many unnecessary taxes and impractical regulations. the current status is due to the kicking the can down the line instead of addressing the issues rightaway. When there is a way, any trasaction will occur through the least resistant of the paths. The government should make laws and regulations less stringent and give lesser discretionary powers to bureaucrats in socially good transactions, But make stringent laws on socailly. bad transactions such as drug, violent crime, white collar corruptions and scams and severe punishments to the bureaucrats caught in corruption.

Unless it is done all the gains from this huge exercise will go to waste. I hope the government knows this and acts on it.

Durairaaj, you are quite new, but very logical in your thinking. I appreciate that, but you are quite confused like most of the other posters. You understand only logical thinking, I can easily profile you as "rational thinker". You are like " Arjuna " in the battle field.

But there's is a great deal of problem with rational thinkers. They can't understand irrational thinking. Well you may say, why should we care for irrational things? The straight answer is, all rational people are living in Maya.

This was told to me by the most unlikeliest of the man, an American with Irish blood, in 1994, in IIT Delhi, his name is Amar Bose., a professor of Massachusetts institute of technology, Dept of electrical engineering. He was also a businessman, some of you may still see Bose speakers. He is the founder of that company.

What he said was "the Western world is full of rationalism. Rationalism is what we can perceive with our indriyas (eyes, ears,nose,tongue, skin). We keep thinking that it is all what the world is and believe it as Nithyam and Satyam. I was educated by Hindus that we are living in Maya. Some freedom fighters from India used to visit my Father, as my Father was close to Netaji Subhash Chandra Bose. Because I teach mathematics, I thought mathematics is the most rational of all subjects, but got disillusioned when the solutions I get in mathematics, are originated in irrational thinking. So there is some thing else other than rationality. That is when I started traveling to India, in search of truth. There are pramanas, or standards, they are Vedas. Like Newton's laws of motion, or like 0th law, or first law or 2nd law of thermodynamics, imagine if there are thousands of laws, which have to be 'byhearted'. They are Vedas. The beauty of Vedas is that each sentence is a standard, and combined sentences are also standards. I asked one 'ghanapaati' ('ghanapaati' is the one who recites Vedas) who taught Vedas to him? He said that there are no Vedas, when I start reciting them actually, Vedas themselves drive me to recite them. The more I practice the more I recite, so the Vedas are there since for ever, I just recite them. There's no meaning to Vedas, even if it is there, I don't know what it means. Well I was guided by a rishi that I should know about the Vedas, and when I expressed my difficulty, I was guided to Upanishads, they are too vast, then I learnt Ramayana, Mahabharata, bhagavadgita. What I learnt was there are very strong belief systems in Hindus. They are the interpretations of irrationality. Trying to understand the irrationality in a rational way. For example, Hindus strongly believe in rebirth. A lot of things can be explained if we believe that."

Dr.Amar Bose attained Moksha on 12 July 2013.

There is a movie by Chittoor nagaiah in 1940s before India's independence. It is about 12th century Reddy Landlords. They are called "Reddy Rajulu". They used to hold land anywhere from 20000 acres to 50000acres, each "Reddy Raju". There was one such family of 2 brothers, the younger one was " Vema Reddy ". He was born with silver spoon. (In fact, all rich people in their next life usually take birth in rich families, unless they would have insulted Lakshmi) but he became a womaniser, and to get money for his habit, he does research in the field of metallurgy. His aim was to convert iron into gold. He befriended Abhirama who was also a metallurgist. Abhirama was more into this field and comes to the conclusion that we can't turn iron into gold with chemical reactions, something more was required at atomic level to convert iron into gold. Abhirama has a guru in a gufa who knows Vedas, which describe the physical properties of materials, and a technic to conduct conversation of metals.

In the meanwhile, Vema Reddy's womanising increased. When he tries to get a kulakantha, she refuses his advances, but because this guy is powerful, in order to push him away, she asked for nose ring of Vema Reddy's sister in-law. He tries to coerce her by giving gold, but she insisted for only the nose ring of his sister in-law, he gets disillusioned with money, then he goes to his sister in-law, she would not part with her nose ring, because of sentiment. She offers herself to him if all he wanted was only sex. He gets disillusioned with Kaama also. He reached 'vairagya', now he starts 'internal search'. Abhirama takes him to his guru, and Vema Reddy became a bramha yogi. As bramha yogis have supernatural powers, Vema Reddy sits in a remote place in jungle waiting for his MOKSHA. But he is not getting it, then his Guru tells him that he still has not fulfilled his desire of converting the Iron into Gold, so he is not able to attain Moksha, now Vema Reddy converts Iron into Gold through some complex Nuclear Manipulations and metallurgy. During this entire journey in search for Moksha, Vema Reddy has a friend Abhirama with him. He documents his words by writing down the Poems Recited by Vema Reddy on "Taalapatra" Toddy Leaves. Almost all Telugu people know Vemana Poems, but they did not know how those originated. Again, there was an English Man to the Rescue. His name is C.P.Brown, He was British ICS officer. He gets the "toddy leaf" peoms of around 30,000 to 40,000 of them and preserves them.

You can watch the Movie with English Sub-Titles on YouTube. The movie is heavily twisted for Good Screenplay, but still it has a very authentic depiction of the Indian Society in 12th Century. Some of the rules of Taxation is also depicted. Its quite an interesting Movie.

You can also refer to what Bhagawan Sri Krishna said, "Jaatasya hi Dhruvam Mrityu, Dhruvam Janma Mritasya cha". which means, every human who takes Birth has to die, and everyone who dies has to take the birth again. This body that you get is only a means of carrying out "Dharma, Artha, Kaama, Moksha". But then, "tasmaada pariharyerthe na tvam sochithum arhasi" it doesn't make you any less Hindu if you ignore the cycle of Birth and Death.

Once you attain, Bramha Yoga (ability to create), you need to give up your "Dharma, Artha, Kaama, " that is when you will mix with me. "sarva dharmaan parityajya maamekam saraNam vraja, aham tvaam sarva paapebhyoh Mokshayishyami maa suchah". that is what bhagawan Krishna said in the last (18th) adhyaaya of Srimad Bhagavadgita.



Well, to ease the pain of Mr. Akshay Kapoor, let me say something. Let us say, there are 1200 Million Indians, and out of which 75% of the population is not in the working age of 18-60. still we have 300 millions, workers. lets say 50 million in Govt. Services, both State and Central, we still have 250 million workers. Lets say there are 50 million IT workers, who pay regular Income Tax. 200 millions still left. Lets say, there are 100 millions Farmers. still left with 100 millions in Small Businesses, of which, around 50 millions are workers, and 50 millions jews like me. You can send these jews to Auswitze. then entire country will be free of these jews.

The Military and para-military and security forces are third in the hierarchy of "Kshatriya"s, they are constantly dhimmified by the other two by saying that there are no Jews in the country, you are defending only Information Technology Workers, who get their salaries from MNC's and they pay the Taxes, we collect the Income Tax from them and then only they get the money to enjaay and make festival, to keep their morale high. this class of kshatriyaas are manipulated by the King (1st in the hierarchy of Kshatriyas) and his Advisors (ministers and policy makers in the Govt., which are the 2nd in the hierarchy of Kshatriyas). Because if you say, the Jews are also important for the Economy, though you are basically defending IT workers who are working for MNCs, as a consequence you are also defending the Jews, the morale of the Armed Forces comes down. They don't want to put their lives on line to defend the Jews. For the Armed forces, the jews are "wazibulkatlet".

Shiv saar, "Little Professor Syndrome" could be the closest to my 'Pisko Profile'. you can analyze that. Donald Trump also has the same syndrome.

[vina]

Did not work for me. That is why I was forced to install Paytm. Uber does not recognize that number as a valid Visa card. Have you actually tried it for Uber specifically?

Yes. I input that card number , along with the CVV and expiry in Uber and it accepted and confirmed it. Do check if you put in the expiry and CVV correctly as well. You can use the copy paste feature in Pockets, where you can copy the card number and paste it where it asks for the card number in Uber etc. CVV and expiry day you have to remember unfortunately. Uber deducted Rs 1 , a token transaction to confirm the card ..

Saves you a lot of trouble .

I do not like parking my credit card numbers in various online portals and that is why I thought the Pockets Visa would be a good idea. I spent about 4 hours (during a wedding yesterday) trying all sorts of tricks to get money from pockets to Uber, including the Pockets Visa card which I tried several times. No go

Same reason why I don't want to give my card number to all and sundry. Strange, Pockets worked for me, first shot. Also, from pockets , you can order for a physical card if you so wish and can also be used in swipe machines.

[g.sarkar]

http://www.firstpost.com/business/demon ... 39942.html
Demonetisation: How Narendra Modi changed the currency ban narrative
Dec 5, 2016 10:11 IST
Prime Minister Narendra Modi addressed the nation on November 8, 2016 to announce the withdrawal of Rs 500 and Rs 1,000 notes.
The speech (in English) lasted 25 minutes. The Prime Minister uttered the phrase “black money” 18 times in this speech. He mentioned “fake currency” or “counterfeit” five times in the same speech.
It was unambiguously clear from the Prime Minister’s speech that the primary motivation for the sudden withdrawal of nearly 86% of the country’s currency was the evil of black money.
The next day, the papers termed it a “war on black money”. PayTM, a mobile payment app, hailed the decision with a full-page ad and the Prime Minister left for Japan.
By the time the Prime Minister returned from Japan, the move had been christened “demonetisation” in English, “notebandi” in Hindi and there was a war-time like rationing of currency in the country.
The Prime Minister made six speeches across the country on the demonetisation policy between November 13 and November 27, including his radio address to the nation, Mann Ki Baat, according to data available on the Prime Minister’s personal website. The text of all the speeches are available on the website.
A data analysis of the speeches (after translation) reveals a shifting of the narrative of the demonetisation action and its objectives.
.....

Gautam