Why Experts Say Historic Day for Economy of India
Why Experts Say Historic Day for Economy of India

Why Experts Say Historic Day for Economy of India {*Narendra Modi*}

Today was a Why Experts Say Historic Day for Economy of India {*Narendra Modi*} and for the whole nation as the Prime Minister Narendra Modi announced invalidation of Rs 500 and Rs 1000 notes post-midnight of Nov 8th.

First, this comes as a shock. It’s counterintuitive, it’s like “did I hear that right?” Yes, sir, that’s right. That piece of paper is going to be of no good after tonight.

Before we proceed, or anyone panics first things first: although it’s a waste piece of paper you can still deposit it in your bank account starting tomorrow and exchange it for the new Rs 500 notes (and brand Rs 2000 ones) until Dec 30th.

Why Experts Say Historic Day for Economy of India{*Narendra Modi*}

Ok, So what is this measure about really?

What it means is the legal tender that promised to pay the bearer a sum of Rs 500/1000 shall hold true for one last time in case of the old Rs 500 and Rs 1000 notes, but only when you go and deposit it in your bank account. You can get the new notes, the limit, for now, would be Rs 4000, till more new notes come into circulation.

Now if we can deposit it in the bank, how is it going to curb corruption and black money? and why should anyone worry?

You sir, as an honest person who’s toiled for the money you have earned-When you go with those notes to your bank after tonight, you still have the confidence of an honest man it’s your hard earned money and you’ll have no problem showing your photo id card when depositing your money in the bank.

So you have absolutely nothing to worry about. That’s what NaMo meant when he said honest people will have full protection from the government.

But think of the hoarders, the holders of billions of rupees in black money. How will they account for it when they take it to the bank?

And if they don’t take it to the bank before 30th dec, what are they going to do with that huge pile of cash? It ceases to be admissible for exchange after 30th (albeit with some difficulty till march) and becomes just what it really is a piece of paper.

And what about those who deposit some of it in name of someone else.. say relatives, friends, their cooks, drivers, gardener, household helps etc?

Why Experts Say Historic Day for Economy of India {*Narendra Modi*}

Firstly, no person would like to take the burden of someone else’s black money because if caught the punishment is going to be severe for this fraud.

Secondly, even if someone opts for this out of greed for commission there is a limit to how much they can actually salvage through this micromanagement. Remember, actual hoarders of black money usually hold thousands of crores in pure cash. This cunningness won’t salvage even 1% of their black money.

Thirdly, since now at least some, if not all, of the black money will have to be gotten rid of it gets put into the banks and will then find its way into the economy. Imagine the boost to the economy with so much liquidity with the banks!

To summarize: Why Experts Say Historic Day for Economy of India

The money will either

1) Find its way back to the economy and give it a hyper boost

2) Rot in the coffers and become biodegradable waste enriching the soil

Instead of the system going behind the corrupts for getting black money, now the corrupts will run the system to whitewash their ill-gotten money and will fail miserably at that.

And that, my friends, is the genius of your Pradhan Sevak Narendra Modi.

Provisions have been made to ensure emergency services aren’t denied to anyone and that there is minimal inconvenience to the citizen. Despite all the measures, if you do face problems please bear in mind that you’re bearing it in the national interest.

That a little pain by us will turn the tide against those high and mighty powerful involved in corruption, Hawala, terror funding and fake currency.

You, I and everyone of us who loves this nation are going to be a part of this crusade. This is a proud moment, this is a moment of caution, and this is a moment of decisions and actions.
We’re all together in this.

Bharat Mata ki Jai