India demonetisation fails to purge black money

Re:India demonetisation fails to purge black money by paapi__gudiya on Thursday August 31, 2017 @11:24AM (#15140941)

Road-side merchants live hand-to-mouth and would anyways not contribute to tax because their incomes are so low.

Every study out there suggests that demonetisation was a big blunder, causing a very severe blow to the Indian economy, including the death of 150+ civilians.

The real motive for demonetisation was to legitimize the black money of the ruling party BJP and eliminate black money of opposition parties.

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Re:India demonetisation fails to purge black money by harigov on Thursday August 31, 2017 @01:49PM (#15142227)

If they start using banks and digital payments, one can build credit score and issue loans to them, so they can develop their business. That is not possible today.

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Re:India demonetisation fails to purge black money by tryingagainbro on Thursday August 31, 2017 @03:49PM (#15143299)

Loans for what? Some people in many fields should NOT get a loan. It will make matter worse...broke and indebted to a bank. Not everyone is gonna make a $1 million a year.

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Re:India demonetisation fails to purge black money by virtuabhi on Thursday August 31, 2017 @05:15PM (#15143998)

Women from rural areas can start a small business with a loan of 1-5 lakhs INR (~10k $). You should read more. Here is one recommendation http://a.co/fAC8YSQ

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Re:India demonetisation fails to purge black money by sabujp on Thursday August 31, 2017 @12:37PM (#15141525)

This, there's so much corruption its ridiculous.

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