Re:India demonetisation fails to purge black money
by kamaal on Thursday August 31, 2017 @11:39PM
(#15145940)
>>However, overall it had pretty strong positive impact on economy.
Overall it has permanently destroyed trust in governments actions. Most big money people money I know today trust only two things to park their money: Gold and Real estate. Worsening the home affordability problem.
>>Many of the roadside merchants who used to be exclusively cash only, have started accepting dizital payments.
Their business was destroyed so badly that they had to use digital wallets just to fill their stomachs.
>>All those on-record transactions are now part of formal banking system, instead of earlier don't-bother-about-tax approach.
They were temporarily. They are back to being normal again.
>>Combine this with the recent roll out of GST, we are on a very progressive path and with good momentum.
Some people even say the current government doesn't even have a clue what it is doing, and it will take somebody prudent next time to fix the mess created currently.
Overall it has permanently destroyed trust in governments actions. Most big money people money I know today trust only two things to park their money: Gold and Real estate. Worsening the home affordability problem.
>>Many of the roadside merchants who used to be exclusively cash only, have started accepting dizital payments.
Their business was destroyed so badly that they had to use digital wallets just to fill their stomachs.
>>All those on-record transactions are now part of formal banking system, instead of earlier don't-bother-about-tax approach.
They were temporarily. They are back to being normal again.
>>Combine this with the recent roll out of GST, we are on a very progressive path and with good momentum.
Some people even say the current government doesn't even have a clue what it is doing, and it will take somebody prudent next time to fix the mess created currently.