Currency Demonetisation and Future course of Indian Economy

[Marten]

Seriously ? There is far more insight and understanding in a single line of mine than pages of your drivel. People come here to discuss issues as to how they impact the nation not taunt each others personally with "kitna tha" "kitna he" "kitna gaya". I understand in your little mind it is some clever insult but it only undermines the forum and reveal you for the joke you are. I am done with you.

Refuge of the scoundrel indeed. Flee from debate.
What data points have you really brought?
What insights have you brought?
Sniveling invective and verbal diarrhea are not a sign of intellect. Please, justify your tax theft and lowly manners by using logic and data. The sooner scum who justify taking theft are given it in their verbose bottoms, the better it is for Modi and his mandate. Crib and rant all you want, but you and the thieves will learn to fear the consequences of under-reporting incomes with your pathetic excuses. As for your language and abuse, shows you for the person you are. Mods can deal with that.

[Gus]

next week RBI will start accepting old notes once again, for limited time. Details are unclear whether old notes have to be submitted to your bank or direct to RBI. Further details are awaited.

You have posted many such stuff and later claimed that it is from local paper that even if u post , nobody can read ..

Is this also like that ?

[kiranA]

Morover generally accepted principle in the world is to let bad people go if it comes at cost of punishing the innocent.

This is a perversion of the actual principle, which is, if you can't prove beyond a reasonable doubt that someone is guilty, then let them free, because it is better to let a criminal walk than to punish an innocent.

Nobody was on trial here, you just had to deposit your lawful savings that were in cash into a bank account.

Just had to walk to the bank - like laughing and singing ? hundreds died...a new born infant died in the arms of a mother while awaiting in the line. Oh, I forgot, Indian always waited in lines, Indians always die like flies. If an Indian dies nobody really needs to take any responsibility even when you connect it directly to a govt policy which resulted in this.

And who knows how many thousands are suffering due to postponing of medical treatements - Shiv said there was a collapse even in his urban highly digitized clinic in Bangalore. But right look away - somewhere a person with black money is feeling the hurt .

[nirav]

Iirc, acceptance of old notes was till 31st March 2017, for folks who were out of India.
That was supposed to have been done AT the RBI from what I recall..

Reopening acceptance of old notes is just wishful thinking

[A_Gupta]

Sorry, KiranA, all the disruption due to demonetization is the responsibility of those who made the black economy in India in the first place.

When termites attack a house here, the people have to leave, the house is enclosed in a tent, and the termite poisons are released. Yes, people are inconvenienced.

You are in the position of the termites complaining about the people who were inconvenienced.
Don't be a righteous termite!

[nirav]

Just had to walk to the bank - like laughing and singing ? hundreds died...

You need to back it up with some legit source.else stop peddling propagandu.

[Picklu]

Just had to walk to the bank - like laughing and singing ? hundreds died...a new born infant died in the arms of a mother while awaiting in the line. Oh, I forgot, Indian always waited in lines, Indians always die like flies. If an Indian dies nobody really needs to take any responsibility even when you connect it directly to a govt policy which resulted in this.

And who knows how many thousands are suffering due to postponing of medical treatements - Shiv said there was a collapse even in his urban highly digitized clinic in Bangalore. But right look away - somewhere a person with black money is feeling the hurt .

Millions died in malnutrition & sickness before which could have been avoided if tax were paid by the scums you are supporting.

Kitna gaya?

[Supratik]

I think we should give a Filmfare award to KiranA for his performance in support of BM. He did better than Nirupa Roy IMO.

[habal]

next week RBI will start accepting old notes once again, for limited time. Details are unclear whether old notes have to be submitted to your bank or direct to RBI. Further details are awaited.

You have posted many such stuff and later claimed that it is from local paper that even if u post , nobody can read ..

Is this also like that ?

you folks really like to get aggressive & nasty because everyone is out to rob Modi's h&d. Can you not get it that not everyone is unidimensional ! I am not even bothered about Modi succeeding or failing. If he suceeds some hindutvavadis will start screaming much like you may do that the pseudo-seculars, fake libs, fake Indians, RNIs etc had screwed the system and now proud hindu *thor* has set it right. Only US-based NRI OFB (overseas friends of BJP) are real patriots, apart from Shyama Prasad Mukherjee & Guruji Golwalkar)

If he fails, he takes India down with him.


So net-net what will happen is:

1. fundamentalism will rise if Modi succeeds.

2. India will suffer economic setback if he fails.

Success is his alone and his hindutva buddies and failure is entire nations. On top of this salivating scenario there are people like me who are trying to trick the beacons of patriotism like yourself by posting false news. Pray how can I even stir thee from your righteous moral path.

This entire thread is a twilight zone by itself thanks to self-righteous pricks trying to turn into bankers and economists overnight.

[kiranA]

Sorry, KiranA, all the disruption due to demonetization is the responsibility of those who made the black economy in India in the first place.

When termites attack a house here, the people have to leave, the house is enclosed in a tent, and the termite poisons are released. Yes, people are inconvenienced.

You are in the position of the termites complaining about the people who were inconvenienced.
Don't be a righteous termite!

So you do admit there was disruption and there was suffering. This is not what your implied before in the previous post. What do you mean I am in position of termites because i complain about sufferings (DEATHS not "inconvenienced" - the righteous heartlessness is amazing! - Don't be that)?

No the suffering is clearly on the hands of the incompetent, venal govt and bureacracy. they know who are black money hoarders (they themselves are), they can raid them , they can catch them but they are too corrupt to do it. Instead they attacked the millions who kept that now worthless toilet paper because they believed in the sanctity of the promise "I promise to pay the bearer ...".

[kvraghav]

Kiran sir, I know the person and so let me say this. Income tax is on the profit and not on sales. Profit is after all you pay the haftas. Tax on profit is no way related to corruption.
Ex: I produce a goods for 100 rs and add 30 rs hafta to it and sell it at 150 making a profit of 20. I have to pay tax on that 20. If there was no corruption, it would have been 120 and still profit of 20 rs.
I am not generalizing here but when we talk about this person, he runs into crores of accounted money.

Are you seriously suggesting that business can report bribes as their expense ? . Regarding that person you know off why doesnt Modi go after him ?
Modi was given a historical mandate, he has CBI, IB, ACB various state governements police (esp BJP states). But he does not have the will or guts to effectively use them/cleanse them. Instead he drags 124 crore people - several handicapped, old, diseased, small businesses - in to lines under the name of ritual cleansing. what sort of governance is this ?And some people here go gaga as I said because everyone has a face which they can hate - local realtor, local bania, even that relative who made money too quick.

Morover generally accepted principle in the world is to let bad people go if it comes at cost of punishing the innocent. When you invert it like done here by some then it becomes lynch mob mentality.

Every businessman I know over report the expense. It easily covers bribes plus their own taxes. Example is 3 lakh laptop of Manu sanghvi. I don't think you are worried about sick and handicapped since you jumped in after the raid. The hate comes when we pay for their road usage, their gas cylinder, their children's security. The hate comes when people enjoy in your money for which you slog 12 hrs a day.

[A_Gupta]

Inconvenience, not suffering.

Second, if you expect the PM to be magically able to sweep clean every alley in every town and village, you are a believer in magic. There is no omniscient entity within the Indian government, who, like Santa Claus, knows who has been naughty and who has been nice. Within the government itself, there is a fight between the clean and the venal. And there is a similar fight in the Indian society as a whole.

The millions can and will speak for themselves in the next elections and the elections following that. When you're weeping crocodile tears for them, how much taxes did you cheat from them? Kithna gaya?

[kvraghav]

You have posted many such stuff and later claimed that it is from local paper that even if u post , nobody can read ..

Is this also like that ?

you folks really like to get aggressive & nasty because everyone is out to rob Modi's h&d. Can you not get it that not everyone is unidimensional ! I am not even bothered about Modi succeeding or failing. If he suceeds some hindutvavadis will start screaming much like you may do that the pseudo-seculars, fake libs, fake Indians, RNIs etc had screwed the system and now proud hindu *thor* has set it right. Only US-based NRI OFB (overseas friends of BJP) are real patriots, apart from Shyama Prasad Mukherjee & Guruji Golwalkar)

If he fails, he takes India down with him.


So net-net what will happen is:

1. fundamentalism will rise if Modi succeeds.

2. India will suffer economic setback if he fails.

Instead of name calling and using abusive words, it would help if you could answer a directed question like is there a link for the above news?

[nirav]

Habal ji hates modi.or is it Hindus ??

Pls state source of your claim @ RBI restarting accepting old notes.

[kiranA]

Inconvenience, not suffering.

Second, if you expect the PM to be magically able to sweep clean every alley in every town and village, you are a believer in magic. There is no omniscient entity within the Indian government, who, like Santa Claus, knows who has been naughty and who has been nice. Within the government itself, there is a fight between the clean and the venal. And there is a similar fight in the Indian society as a whole.

The millions can and will speak for themselves in the next elections and the elections following that. When you're weeping crocodile tears for them, how much taxes did you cheat from them? Kithna gaya?

Death is an inconvenience ? denial of medical treatment is inconvenience ? yeah right.

Modi can and should strive to clean and maintain roads in every alley - that's what a govt is for - thats a rational expectation not a belief in magic.

What do you mean omniscient entity ? A poster here some "kvraghav" says he knows a businessman with crores in blackmoney. Shiv said the realtors in bangalore are drenched in blackmoney. but are you saying govt does not know them with all its resources ? That line works if govt is unable to catch someone underreporting their income by few lakhs but mega crorepaties are walking on streets with govt incompetent even to touch them.

The same millions also voted for sonia/mms twice. And you too cannot raise about cheap personal taunts.

[Gus]

Habal - I wasn't even snarky. I merely asked u source and wanted to preempt the 'i can post, but u won't understand' stuff you did before.

No reason for you to respond like that.

[Suraj]

So you do admit there was disruption and there was suffering. This is not what your implied before in the previous post. What do you mean I am in position of termites because i complain about sufferings (DEATHS not "inconvenienced" - the righteous heartlessness is amazing! - Don't be that)?

No the suffering is clearly on the hands of the incompetent, venal govt and bureacracy. they know who are black money hoarders (they themselves are), they can raid them , they can catch them but they are too corrupt to do it. Instead they attacked the millions who kept that now worthless toilet paper because they believed in the sanctity of the promise "I promise to pay the bearer ...".

Excuse me for being blunt, but you're being a troll when you use deaths or disruption during the DeMo process as proof of its failure. By that line of thinking lets ban childbirth, since many women and babies die during it. No need to even bother making stupid arguments like 'lets ban entrance exams since kids kill themselves during that time' - start right out and end the chain of life at the beginning.

Please stop peddling your ideas about private individuals doing any societal good by pursuing commerce using black money, and that the fault lies wtih the government alone. You're transacting an arguably necessary evil and that's the furthest claim you can make. Further efforts to push such societally corrosive claims will invite moderator action. If you're so intent on pushing such perspectives, find yourself another place to do it in.

[kiranA]

So you do admit there was disruption and there was suffering. This is not what your implied before in the previous post. What do you mean I am in position of termites because i complain about sufferings (DEATHS not "inconvenienced" - the righteous heartlessness is amazing! - Don't be that)?

No the suffering is clearly on the hands of the incompetent, venal govt and bureacracy. they know who are black money hoarders (they themselves are), they can raid them , they can catch them but they are too corrupt to do it. Instead they attacked the millions who kept that now worthless toilet paper because they believed in the sanctity of the promise "I promise to pay the bearer ...".

Excuse me for being blunt, but you're being a troll when you use deaths or disruption during the DeMo process as proof of its failure. By that line of thinking lets ban childbirth, since many women and babies die during it. No need to even bother making stupid arguments like 'lets ban entrance exams since kids kill themselves during that time' - start right out and end the chain of life at the beginning.

Please stop peddling your ideas about private individuals doing any societal good by pursuing commerce using black money, and that the fault lies wtih the government alone. You're transacting an arguably necessary evil and that's the furthest claim you can make. Further efforts to push such societally corrosive claims will invite moderator action. If you're so intent on pushing such perspectives, find yourself another place to do it in.

A woman suffers for childbirth because there is a clear realisible benefit of that suffering - the birth of her child. A student puts in efforts for their exam because again there is clear benefit - an admission to an institute. But what in the world is the benefit in depositing your own hard money and getting the same money back (in poorer denominations) that justifies this much of human suffering and business disruption ? The rules were changed 59 times showing (later embellished as being "proactive") how scant the respect that govt has to its own legal tender. And its own promise " To pay the bearer". And despite such massive suffering there is nothing to show for it . Modi wont speak what the numbers are - RBI doesnt say what the numbers are.

And all that above criticism is just about the logistics of implementation. But the raison d'aitre is also horrible. What is the excuse for not rounding up rich black money hoarders on an individual basis ? everyone (including the posters here) apart from IT seems to know who they are.

I did not say using black money is good. But its clear many people who may have black money are very productive people and extremely useful to society. Not paying tax is ofcourse a crime but its not a sin. Its a matter of social contract (govt will deliver the infra and security if you pay tax) and thats exactly why govts keep coming up with amnesty schemes - nobody does amnesty for murderers do they ? This should be approached in a more holistic manner - control the govts policeman who takes the bribe, the bureacrat who takes the bribe , and attack the businessmen too. If govt continues to be venal in its approach to people then people wont pay what they owe to government.

[nirav]

The country lags behind because of criminal sympathisers like you Kiran ji.

Not paying tax is ofcourse a crime but its not a sin.

One of the most ridiculous things I've heard.

Post the DeMo exercise I've seen the "argumentative" side come out in many folks, who unfortunately 'argue' just for the sake of it.
One logical explanation is that they lost huge amounts of money cause of it.

If not, well, every country has its fair share of 24/7 compulsive complainers.

Which one are you?

[hanumadu]

So net-net what will happen is:

1. fundamentalism will rise if Modi succeeds.

Tell us something else. Sickular mofos have been telling us this since NDA1. First it was Vajpayee, then its Advani now its Modi. Of course, it whole of RSS and BJP. 10 years of UPA rule only seems to have fueled the Muslim fundamentalism. And don't say you are talking about HIndu fundamentalism.

[chetak]

twitter

And the person you're buying it from needs all of this too.

[SRoy]

^^

Very mischievous propaganda. Its coming from tax cheating merchants.

All you need is your banks debit card, not all of the above.

[nirav]

You don't even need a debit card.
A bread costs 20 bucks and post demo, I've bought a lot of bread.
never had to use my debit card.

[chetak]

^^

Very mischievous propaganda. Its coming from tax cheating merchants.

All you need is your banks debit card, not all of the above.

It's looks more like a joke onlee

[krisna]

So net-net what will happen is:

1. fundamentalism will rise if Modi succeeds.

OT alert please.

totally false.
If it is non Indian(non Indina religion) fundmentalism, yes he has galvanised non Indian religious fundoos hugely which is unfortunate.

If reffering to Hindu fundamentalism it is an oxymoron.

fundmentalism refers to strict adherence of a set beliefs or principles .

This is very very difficult in Hinduism. if not impossible as say in islam and christianity.


Hinduism has no set beliefs or tenets to adhere to. majority of Hindu philosophies deal with atheism(some say over 60% to upwarsd deal with atheism etc etc ). it has chnaged over centuries with no dogmatic principles.
It gets updated regularly(over decades centuries and not days etc )

Each Hindu has his own set of beliefs and principles- no 2 Hindus agree on all things unlike muslim or christian who agree on core principles for their relgion.

I can say more and say terming "Hindu fundamentlaism" is stupid and idiotic. defence of weak kneed liberal who are illogical and ilberal.

----------------------
yes Hindus can unite for only certain issues like reaction to certain events again not fully only for limited time. That is also no 100% participation unlike non Hindus.



OT alert.

[Kakkaji]

I think for transactions below Rs. 100, electronic payment is probably not economical/ viable. Cash is the most convenient means for it.

For transactions above Rs. 1,000, I don't see any reason why it should not be electronic.

Once the current lot of Rs 500 notes are printed and the shortage eased by the end of February, I think the Govt should print nil/ very few notes of Rs 2000 and Rs 500 denomination. Only print notes of Rs 100 and below.

I also think Rs 100 and Rs 50 notes should be issued in polymer versions asap. These should be the long-lasting ones.

[shiv]

A woman suffers for childbirth because there is a clear realisible benefit of that suffering - the birth of her child..

It is better not to go down this route. There is virtually no personal benefit to the woman. That is why as prosperity increases, the birth rate goes down and in societies where the birth rate is not controlled, women suffer from multiple childbirths and society form increased population and hunger

Birth is a purely biological phenomenon that is of no personal benefit to anyone other than propagation of the species. Prosperity is unnecessary for this. Why should anyone personally want to propagate the species? Better to be prosperous and yenjoy. Given the choice a large number of women would avoid childbirth - which is why prosperous societies show a decline in fertility and they virtually have to beg their women to have children.

Now by paying tax (assuming honest government) your are helping to make society more prosperous and are therefore directly contributing to reducing the childbirth rate - which benefits women. By not helping to increase general prosperity - society will pull you down with poverty and increase the possibility the birth of disruptive people like Modi and his bhakts or alternatively Hafiz Saeed and his followers.

[shiv]

Just realized that this thread is still active. Demonetization is gradually being forgotten. Lots of people enjoying Raees and no one mourning the people who died in the queue waiting for Shah Rukh Khan. Biologically speaking deaths are an every day occurrence. We mourn the dead for a while and do not keep on thinking of the same dead people forever - because money needs to be made and new people are dying for new causes. the world moves on..

[kiranA]

Just realized that this thread is still active. Demonetization is gradually being forgotten. Lots of people enjoying Raees and no one mourning the people who died in the queue waiting for Shah Rukh Khan. Biologically speaking deaths are an every day occurrence. We mourn the dead for a while and do not keep on thinking of the same dead people forever - because money needs to be made and new people are dying for new causes. the world moves on..

The plight of poor or marginalized people is always forgotten. It is said more people died in bengal famine than holocaust - who remembers bengal famine ?

[kiranA]

A woman suffers for childbirth because there is a clear realisible benefit of that suffering - the birth of her child..

It is better not to go down this route. There is virtually no personal benefit to the woman. That is why as prosperity increases, the birth rate goes down and in societies where the birth rate is not controlled, women suffer from multiple childbirths and society form increased population and hunger

Birth is a purely biological phenomenon that is of no personal benefit to anyone other than propagation of the species. Prosperity is unnecessary for this. Why should anyone personally want to propagate the species? Better to be prosperous and yenjoy. Given the choice a large number of women would avoid childbirth - which is why prosperous societies show a decline in fertility and they virtually have to beg their women to have children.

Now by paying tax (assuming honest government) your are helping to make society more prosperous and are therefore directly contributing to reducing the childbirth rate - which benefits women. By not helping to increase general prosperity - society will pull you down with poverty and increase the possibility the birth of disruptive people like Modi and his bhakts or alternatively Hafiz Saeed and his followers.

Sir, I understand everyone live in their own bubble but nevertheless I find your post extremely unbelievable. Most people I know celebrate birth of their child and many more do a lot of sacrifices for their child's benefit.

[shiv]

Sir, I understand everyone live in their own bubble but nevertheless I find your post extremely unbelievable. Most people I know celebrate birth of their child and many more do a lot of sacrifices for their child's benefit.

Absolutely no need to believe it. One must always live in one's own bubble and not be concerned about others for good mental health

[shiv]

The plight of poor or marginalized people is always forgotten. It is said more people died in bengal famine than holocaust - who remembers bengal famine ?

Why should I bother about poor and marginalized people? If I am happy and prosperous those people can do what they like. Is there anything wrong in this argument? If so what is wrong? Don't you make profits for yourself and share them when it makes you feel happy and proud to share it and appear better than others? Selfishness is the basis of capitalism and good business sense. I must always understand what advantage there is for me in any situation or transaction. Others can go to hell.

[kiranA]

Sir, I understand everyone live in their own bubble but nevertheless I find your post extremely unbelievable. Most people I know celebrate birth of their child and many more do a lot of sacrifices for their child's benefit.

Absolutely no need to believe it. One must always live in one's own bubble and not be concerned about others for good mental health

The bubble part was sarcasm. But I am not sure your being sarcastic or just weird.

[kiranA]

The plight of poor or marginalized people is always forgotten. It is said more people died in bengal famine than holocaust - who remembers bengal famine ?

Why should I bother about poor and marginalized people? If I am happy and prosperous those people can do what they like. Is there anything wrong in this argument? If so what is wrong? Don't you make profits for yourself and share them when it makes you feel happy and proud to share it and appear better than others? Selfishness is the basis of capitalism and good business sense. I must always understand what advantage there is for me in any situation or transaction. Others can go to hell.

No - you cant have capitalism without a moral backbone. The "selfishness" of capitalism is actually a duty and an obligation to defend your business within the framework of social mores.

[Marten]

I think for transactions below Rs. 100, electronic payment is probably not economical/ viable. Cash is the most convenient means for it.

For transactions above Rs. 1,000, I don't see any reason why it should not be electronic.

Once the current lot of Rs 500 notes are printed and the shortage eased by the end of February, I think the Govt should print nil/ very few notes of Rs 2000 and Rs 500 denomination. Only print notes of Rs 100 and below.

I also think Rs 100 and Rs 50 notes should be issued in polymer versions asap. These should be the long-lasting ones.

Sir, you are right about convenience but the idiot who posted about the data, phone, app etc., is obviously just that. Small change was not demonetized -- so it is just one aaptard many of which apparently infest the internet and forums/threads such as this. I regularly pay small amounts where possible using an app (paytm or zeta). Whoever doesn't own a smartphone is obviously not going to buy one to pay for bread using an app. Try talking about Jio free internet to any of these idiots!

KiranA, so you have moved on from avoiding data related discussions to making emotional appeals about birth and death? Looks like DeMo made a philisopher of you. Where is your data, boss? Where is the impact to the economy? What about large-scale polls indicating discontent with DeMo/NaMo?

In your large cerebellum, perhaps there is too much of intellect to process small questions, but please go fetch...

[shiv]

Why should I bother about poor and marginalized people? If I am happy and prosperous those people can do what they like. Is there anything wrong in this argument? If so what is wrong? Don't you make profits for yourself and share them when it makes you feel happy and proud to share it and appear better than others? Selfishness is the basis of capitalism and good business sense. I must always understand what advantage there is for me in any situation or transaction. Others can go to hell.

No - you cant have capitalism without a moral backbone. The "selfishness" of capitalism is actually a duty and an obligation to defend your business within the framework of social mores.

What social mores do you follow? Are you willing to risk arrest and punishment if your favourite social mores conflict with established and democratically accepted social mores in society?

[shiv]

Absolutely no need to believe it. One must always live in one's own bubble and not be concerned about others for good mental health

The bubble part was sarcasm. But I am not sure your being sarcastic or just weird.

You have not spoken to enough women about the joys of motherhood. You have not looked at childbirth data correlated with prosperity and education. I accuse you of having a male dominant patriarchal bias combined with mythical beliefs about the romance of childbirth.

[kiranA]

No - you cant have capitalism without a moral backbone. The "selfishness" of capitalism is actually a duty and an obligation to defend your business within the framework of social mores.

What social mores do you follow? Are you willing to risk arrest and punishment if your favourite social mores conflict with established and democratically accepted social mores in society?

Social mores belong to society. I cant have "favourite" social mores because that will be individual mores. I am not sure what is your point though.

[shiv]

Social mores belong to society. I cant have "favourite" social mores because that will be individual mores. I am not sure what is your point though.

Fair enough. If you believe that complying with the laws in a society is a desirable social more, good for you

[Suraj]

Excuse me for being blunt, but you're being a troll when you use deaths or disruption during the DeMo process as proof of its failure. By that line of thinking lets ban childbirth, since many women and babies die during it. No need to even bother making stupid arguments like 'lets ban entrance exams since kids kill themselves during that time' - start right out and end the chain of life at the beginning.

Please stop peddling your ideas about private individuals doing any societal good by pursuing commerce using black money, and that the fault lies wtih the government alone. You're transacting an arguably necessary evil and that's the furthest claim you can make. Further efforts to push such societally corrosive claims will invite moderator action. If you're so intent on pushing such perspectives, find yourself another place to do it in.

A woman suffers for childbirth because there is a clear realisible benefit of that suffering - the birth of her child.

So what ??!! Childbirth causes DEATHS! It's not an inconvenience!! It should be banned!

Sounds silly ? Yeah, that's because that's how YOU sound when you try to dance around talking about deaths and demonetization.

You don't like the demonetization act ? Fine. It inconvenienced you. It affected business plans maybe. You think it's unfair that government is corrupt. Regardless, everyone's black money became equally useless on Nov 8 2016.

And its own promise " To pay the bearer". And despite such massive suffering there is nothing to show for it .

Your opinion. Not a fact. This thread has shown repeatedly that those who squeal loudest and resort to the most histrionics typically end up admitting they had their own fingers burnt.

I did not say using black money is good. But its clear many people who may have black money are very productive people and extremely useful to society. Not paying tax is ofcourse a crime but its not a sin.

It's not your choice to decide whether or not it's a sin. When a person chooses to avoid paying taxes or disclosing income, they have no further claim to asserting what the nature of their act is, or making up definitions of crime and sin as you go along.

The most respectable position you can take is to assert that you concealed income or didn't pay taxes because you fundamentally feel the government will mismanage it, and that you are willing to accept the consequences of that action. That means you're willing to accept the burden of punishment for your act to make your point. Any further verbal embellishment of your actions is an insult to other peoples' intelligence. If you want to receive *some* respect, just say you broke the law because you believe the law to be unfair. Even I can respect a person to an extent for being willing to accept the consequences of his voluntary choice in order to make a point. But don't run around saying nonsense like how someone died standing in a line therefore DeMo is bad, or 'crime but not a sin'. That sort of noise gets people banned.