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Thursday 10 November 2016

After effects of the modi's strike

No doubt, its a needy  “stern step” in the face of several challenges created by the black market economy —corruption, unaccounted for money, Pakistani sponsored terrorism  buoyed by fake currency notes of these denominations—the Indian economy stands to be cleansed. 
clean india movement.

As a part of this, 
Modi gov, encouraged the use of non-cash and digital payments, amended the Benami Transactions Act and implemented the Income Declaration Scheme 2016. 

as we all know, About 49% adults in the country have no bank account while only 22% accounts are with debit cards, Modi govt. unleashed Jan Dhana Yojana" to facilite every citizen to open an Account. 

what will happen now?

  • the demand for gold and other such investment avenues such as diamonds and silver to shoot through the roof not just until the deadline, but well after that. 
  • The prices of property, already hitting the trough, are likely to Fall ,as nearly half of all property transactions in India are believed to be done through black money and benami transactions. 
  • The government move will also turn Indian rupee less credible for commoner for  sometime and drive them towards gold, raising the demand for the precious metal. 



i request every one including the opposition political party leaders who denounced the Modi's move to find a solution to eradicate the rampant havala market. 
every one knows, as most black money exchanges hands through hawala deals and not cash transactions.

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