Hi this is Livingstone from India. So, let’s see what is hot with India?
On November 8, 2016 Prime Minister Narendra Modi announced that 500 and 1000 rupees are no more valid and people can exchange their money in the ATMs that night and also he announced ATMs will not function for 2 days. While announcing this, he said that this is an action against black money and to control the black money all over India. He mentioned that those having black money will greatly suffer and this controls duplicate money from Pakistan. So, this is going to be my matter of subject.
All over India there are people against it and there are also people supporting this action of Modi Government. We have to examine this very deeply.
1. Black money holders are not going to have black money as whole as ready cash.
2. Black money can take any form of valuables– might be gold, platinum, lands, shares.
3.Black money holders will either deposit it in Swiss Bank or they will change it into dollars, as international transactions happen only in Dollars.
Another important point Mr. Modi ji added is that his action will wholly prevent the use of Indian money in the trade of weapons for terrorists in Countries nearby India (Pak). I just want to ask Modi ji a question that “who told you that terrorists buy weapons for their use in Indian money and who are those weapon suppliers who supply weapons in exchange of Indian Currency?” ….This clearly shows that this action is just a political advantage.
There is something to be noted with much importance than the above:
– Fake news that has been published by Modi- Ruled Gujarat based newspaper on April 1, 2016 that says 500 and 1000 rupees are no more valid.
– An economical person (refused to publish his name) said that politicians and corporate already know this one month earlier and they have their black money in 100s in advance.
But I don’t say that this action is useless. It does control black money but only to a small extent. On the other side people are suffering from this- standing in queues, unable to buy food, unable to continue with their daily chores.