Demonetisation: Will it lead to a corruption free India?

[vgane]

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How come this psychology is not known to Opposition?....The poor also stood in queues may be once or max twice a month...But he is happy to see the rich struggling for cash!!
Why aam aadmi is not mad at NaMo despite DeMo

January 1, 2017, 12:12 am IST Manu Joseph

If you are someone who takes the respectable media seriously, you may have thought, or still think, that Narendra Modi has committed a huge blunder by delegitimising large notes, and that it would destroy him because most of India is furious. There have been reports of the poor losing jobs and of people dying in queues outside banks. Every time a rustic man committed suicide, it was relayed to us as a “farmer suicide”, of course, and the reason this time was not his disenchantment with genetically modified seeds (that spin has run its course) or drought (the season has changed), but cash crunch.




There was a bit of exaggeration in the coverage because drama is an old friend of human-interest stories but most of the tales of misery were true. They are still trickling in. Yet there is evidence that the average Indian feels Modi is on to something. Or at least, for some reason, he is not angry with Modi. If the cash crunch continues for another month, the mood might change but as of now it does appear that Modi is going to be fine. The people standing in the queues suggest that. Even small traders, who are very important to Modi in some states, say that. One of them, in a newspaper interview, said that the trading community is hardwired to go with the flow and not against the flow. BJP has not been punished in the by-polls or civic elections that were held in several states after the demonetisation. In fact, the party fared well in seven states. And, there has not been a single incidence of rioting even though the political foes of Modi appeared to contemplate the prospect somewhat fondly.

What is going on, and what does it say about India?
Most of the poor seem to believe that the rich have been affected more than them. Cash is a powerful cultural symbol of wealth, hence the perceived fiefdom of the rich. Anarchy in the cash economy, their reasoning goes, would hurt the rich more. That is a significant political sentiment. It is a persistent and under-reported phenomenon across the world that the poor tend to hate the rich more than they hate their politicians. This is true even when the politicians themselves are rich and the rich, at least the refined rich, make so many sweet gestures.
Also, in the perception of the majority, such an extraordinary monetary shock has a ring of righteousness about it. Another factor that has favoured Modi for now is the fact that the current misery of the poor, which seems so severe to the middle classes, is only slightly worse than their regular problems. They queue up often for many things, return empty-handed, queue up again, and go for days without employment or money.
Even so, one would have expected widespread protests and shutdowns in some regions, especially Kerala, but miraculously that did not happen. In the southern states, there is a cautious wonderment — never has a Prime Minister directly affected their lives as Modi has with this measure. What the Prime Minister has done is to make them queue up for their own money. Still, they see in this an unprecedented prime ministerial impact on the rich.
Again, it is a question of time before many delicate perceptions change but it is remarkable how Modi has gotten away till now. By his own admission, the implementation was a screw-up. He said so in an interview on Thursday. He said that demonetisation as a policy (apparently to clean up the economy) “is unequivocally clear, unwavering and categorical.” But the strategies to implement it could have been better, he said. One of the political strategies to absorb the shock though has worked – the impression that he is going to wire the money that he has robbed from the rich into the bank accounts of the poor.
The ideological foes of Modi, who have named themselves liberals, perceived the policy through the filter of their immense hatred for him, and have refused to see the collateral benefits of millions of Indians joining the formal banking system. Even though they claim to worship objectivity, they often demonstrate that they are not capable of it. In the immediate aftermath of demonetisation, they saw the political demise of Modi, and very triumphantly lamented the suffering of the poor. They seemed to suggest, especially in the early days, that the poor are furious with Modi. But, the average Indian often appears to wait for the urban sophisticate to reveal his learned opinion so that he can feel the exact opposite emotion.


http://blogs.timesofindia.indiatimes.com/modern-times/why-aam-aadmi-is-not-mad-at-namo-despite-demo/

 

[zebra16]

How come this psychology is not known to Opposition?....The poor also stood in queues may be once or max twice a month...But he is happy to see the rich struggling for cash!!
Why aam aadmi is not mad at NaMo despite DeMo

January 1, 2017, 12:12 am IST Manu Joseph

If you are someone who takes the respectable media seriously, you may have thought, or still think, that Narendra Modi has committed a huge blunder by delegitimising large notes, and that it would destroy him because most of India is furious. There have been reports of the poor losing jobs and of people dying in queues outside banks. Every time a rustic man committed suicide, it was relayed to us as a “farmer suicide”, of course, and the reason this time was not his disenchantment with genetically modified seeds (that spin has run its course) or drought (the season has changed), but cash crunch.




There was a bit of exaggeration in the coverage because drama is an old friend of human-interest stories but most of the tales of misery were true. They are still trickling in. Yet there is evidence that the average Indian feels Modi is on to something. Or at least, for some reason, he is not angry with Modi. If the cash crunch continues for another month, the mood might change but as of now it does appear that Modi is going to be fine. The people standing in the queues suggest that. Even small traders, who are very important to Modi in some states, say that. One of them, in a newspaper interview, said that the trading community is hardwired to go with the flow and not against the flow. BJP has not been punished in the by-polls or civic elections that were held in several states after the demonetisation. In fact, the party fared well in seven states. And, there has not been a single incidence of rioting even though the political foes of Modi appeared to contemplate the prospect somewhat fondly.

What is going on, and what does it say about India?
Most of the poor seem to believe that the rich have been affected more than them. Cash is a powerful cultural symbol of wealth, hence the perceived fiefdom of the rich. Anarchy in the cash economy, their reasoning goes, would hurt the rich more. That is a significant political sentiment. It is a persistent and under-reported phenomenon across the world that the poor tend to hate the rich more than they hate their politicians. This is true even when the politicians themselves are rich and the rich, at least the refined rich, make so many sweet gestures.
Also, in the perception of the majority, such an extraordinary monetary shock has a ring of righteousness about it. Another factor that has favoured Modi for now is the fact that the current misery of the poor, which seems so severe to the middle classes, is only slightly worse than their regular problems. They queue up often for many things, return empty-handed, queue up again, and go for days without employment or money.
Even so, one would have expected widespread protests and shutdowns in some regions, especially Kerala, but miraculously that did not happen. In the southern states, there is a cautious wonderment — never has a Prime Minister directly affected their lives as Modi has with this measure. What the Prime Minister has done is to make them queue up for their own money. Still, they see in this an unprecedented prime ministerial impact on the rich.
Again, it is a question of time before many delicate perceptions change but it is remarkable how Modi has gotten away till now. By his own admission, the implementation was a screw-up. He said so in an interview on Thursday. He said that demonetisation as a policy (apparently to clean up the economy) “is unequivocally clear, unwavering and categorical.” But the strategies to implement it could have been better, he said. One of the political strategies to absorb the shock though has worked – the impression that he is going to wire the money that he has robbed from the rich into the bank accounts of the poor.
The ideological foes of Modi, who have named themselves liberals, perceived the policy through the filter of their immense hatred for him, and have refused to see the collateral benefits of millions of Indians joining the formal banking system. Even though they claim to worship objectivity, they often demonstrate that they are not capable of it. In the immediate aftermath of demonetisation, they saw the political demise of Modi, and very triumphantly lamented the suffering of the poor. They seemed to suggest, especially in the early days, that the poor are furious with Modi. But, the average Indian often appears to wait for the urban sophisticate to reveal his learned opinion so that he can feel the exact opposite emotion.


http://blogs.timesofindia.indiatimes.com/modern-times/why-aam-aadmi-is-not-mad-at-namo-despite-demo/

You beat me hands down in posting this article

The Killer Punchline :
"But, the average Indian often appears to wait for the urban sophisticate to reveal his learned opinion so that he can feel the exact opposite emotion."

 

[zebra16]

I would like to just point out that the topic of this thread is: Will demonetisation lead to a corruption free India? No that: Will India become corruption free on Dec 31, 2016?

Footnote: There is no country which is completely corruption free today: not even the great USA, Russia, China, UK, Israel, Saudi etc. Maybe only Bhutan has a chance!

When there is a copy-pasting frenzy, topic of the thread is hardly a thing that can be allowed to stand in the way.

 

[vgane]

Awesome! After yesterday's slew of announcements targeting the poor & marginalized and senior citizens, this is a bonanza for those who have taken home loans!! 0.9% drop is a big drop when even 0.1% makes a good difference!!

[h=1]State Bank Of India Cuts Lending Rate By 0.9% Across Maturities[/h]
After the move, its so-called overnight marginal cost of funds-based lending rate (MCLR) fell to 7.75 percent from 8.65 percent, while three-year loan rates will now be 8.15 percent from 9.05 percent previously.
Thomson Reuters | Last Updated: January 01, 2017 14:20 (IST)
EMAIL
COMMENTS

SBI had cut its lending rates for maturities ranging from overnight to three-year tenures.


Mumbai: State Bank of India, the country's biggest lender by assets, said on Sunday it had cut its lending rates by 90 basis points for maturities ranging from overnight to three-year tenures, after experiencing a surge in deposits.

After the move, its so-called overnight marginal cost of funds-based lending rate (MCLR) fell to 7.75 per cent from 8.65 per cent, while three-year loan rates will now be 8.15 per cent from 9.05 per cent previously.

Lending rates were also cut across other maturities effective Sunday.

Banks have received an estimated Rs. 14.9 lakh crore ($219.30 billion) in old 500, and 1,000 rupees notes from depositors since the government in Nov. 8 unexpectedly banned the banknotes in a bid to fight counterfeiting and bring unaccounted cash to the economy.

That had raised expectations banks would have room to cut lending rates, which is seen as vital to increase credit growth and spark a revival in private investments.

Although India's gross domestic product grew 7.3 per cent in the July-September quarter from a year earlier, the fastest pace of growth among large economies, much of that has been led by consumer demand.

Lower lending rates will be welcome by the Reserve Bank of India, which has cut the policy rate by 175 bps since the start of 2015 but has felt banks were being too slow in cutting their lending rates.

The SBI move also comes after Prime Minister Narendra Modi on Saturday admonished banks to "keep the poor, the lower middle class, and the middle class at the focus of their activities," and to act with the "public interest" in mind.

PM Modi's comments were made in a special New Year's eve speech in which he defended his ban on higher value cash notes and announced a slew of incentives including channelling more credit to the poor and the middle class.

http://profit.ndtv.com/news/banking...lending-rate-by-0-9-across-maturities-1643910

 

[vgane]

Right approach..My estimates are that atleast Rs 3 to 4 lac crores of black money has been deposited during the Nov 8-Dec 30 period...All such unscrupulous individuals need to taught a lesson

Posted on 4 January 2017 by

I-T dept ropes in experts from Big Four to unearth black money

New Delhi: The income-tax department has roped in forensic experts from three of the Big Four accounting firms to investigate suspected money laundering by politicians, bureaucrats and businessmen, people directly aware of the matter said.

Experts from EY, KPMG and PricewaterhouseCoopers are working with tax officials to examine evidence collected by the department during raids conducted since November 8, when the government declared war on black money by demonetising.Rs 500 and .Rs 1,000 currency notes.

Read more at:
http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst

 

[auh]

I would like to just point out that the topic of this thread is: Will demonetisation lead to a corruption free India?

The answer to this question is a simple "no"... demonetization just weeds out the current hoarding and by itself is not a means to end corruption.

There is no simple solution, esp. in India to a more corrupt free state since it depends on various factors, the most important of them being the "people" themselves.

 

[vgane]

Report card...More positives in the long run...People have braved the difficulties without much cribbing...This means good initiatives get the support of the common man even though they may be impacted adversely in the short term!!

After Day 50: The Results From India's Demonetization Campaign Are In

A user who went by the name S Kumar Singh left a comment on a previous article that I wrote on Forbes.com that sums up this aspect of India’s demonetization initiative rather well:

This is akin to a Panchatantra-like story we might have heard of.
To get the crocodiles out, a man with good intentions started pumping water out from a pond. Small fishes also living in the water were highly inconvenienced breathing in 85% reduced water but were happy as they were sure that he would get the crocodiles, and with the new rain cycle, they would live happily ever after. The crocodiles, however, are comfortably living on the land and are also waiting for the next rain cycle.
Now who is going to break this news to the fish? Not this honest man who despite his honesty has never ever accepted his prior mistakes and might be next planning to burn the trees to eradicate the bat flu.
​

Fighting counterfeiting
Another stated goal of Modi’s demonetization campaign was to curb counterfeiting. It was reported that prior to this initiative, 250 out of every million Indian banknotes were fake — the blame mostly being placed on Pakistan, where there are rumored to be government-directed printing presses churning out Indian rupees to fuel terrorism. The new 500 and 2,000 rupee banknotes which are currently being issued have different designs and are of different sizes than the previous notes, so all old fakes were instantly washed from the economy.
Initially, changing banknotes is of course an effective means to combat counterfeiting, but how long will this last? I’ve read reports that state that the newly minted Indian rupees will be anywhere from impossible to rather easy to counterfeit. Only time will tell which is correct.




http://www.forbes.com/sites/wadeshe...-demonetization-campaign-are-in/#42972880552e

 

[vgane]

Continued:

Although painful in the short-term, this aspect of demonetization seems to be proving rather successful, as getting the unbanked into the system became a national movement and new bank accounts were opened across India at an exponential rate. The strict limits on cash-to-cash exchanges (only $60 at a time) created a situation where people either had to stand in long lines over and over again or get a bank account in order to retain their savings — which up until that point was often hidden under mattresses or somewhere else in the home.
By temporarily grinding the wheels of the cash economy to a halt, India also hoped to get more people using digital payment methods, like debit cards and e-wallets. To these ends, new digital payment points have been popping up across the country. Now even small vendors, like vegetable hawkers, laundry washers, and rickshaw drivers, who were until very recently the backbone of the cash economy are offering ways to pay via electronic means.
Recommended by Forbes

As long-term Indian expat by who went by the name Ian Faus commented on a previous article about demonetization:

"However so far my transition into this “brave new future” has been almost seamless with few disruptions due to spotty connectivity and infrastructure issues. I paid my driver, the guy who cleans my car, the maid, the cook apart from all my shopping and everything else digitally this past month and its been far less disruptive than I imagined. Indians ,especially the wage workers and informal sector like maids and cooks etc have been remarkable in their ability to cope and adapt willingly.. .
"I am surprised how so many people whose lives are already quite hard have been so adaptable to something so new. In the West we would expect violence and large scale chaos but here despite the abrupt action it has been remarkably well received."
​

The providers of e-wallet and other digital payment systems have correctly viewed demonetization as a way to promote their services and to obtain new users. Since Modi's announcement, Paytm, a popular e-wallet, has seen a threefold increase in new sign-ups, while Oxigen Wallet’s daily users spiked by 167%.
"The digital increase is mostly in small ticket transactions that were cash-driven—even small street vendors are beginning to accept digital payments. For example, many Indians are now buying 25 cents of bread using a credit card,” said Shekhar Ganapathy, the general manager for South Asia at ACI Worldwide.
However, there are obviously still many cogs in the works before India can truly depend on its digital financial infrastructure, as Prasad discovered during his travels:

“India is lived in the hinterland. Even when the card terminals are available, the telephone lines are not robust enough, as they are prone to weather centric disruption. The pharmacy today, in North Kolkata- Laketown, the card machine was out of order, the e-wallet application was working after four false attempts. The area has four pharmacies as it is around a prominent medical center, and only one had a non-cash option. In short, the transition is far from complete.”
​

Expanding the tax dragnet
The bolstering of the digital economy has another big benefit for India’s government: more monetary transactions happening via traceable methods means more tax revenue.
“Digital payments enable an audit trail, in combination with the computerization efforts of linking transactions by the tax authorities, which automatically will take out a large chunk of the cash-based shadow economy,” Ganapathy said.
India’s finance minister claimed that direct tax collection has increased 14.4% and the federal government’s indirect tax collection rose by 26.6% since demonetization began, and government reports from 47 cities in India have reported a combined 268% year-on-year increase in tax collection for November 2016.
Conclusion
While the fundamentals of Modi’s demonetization campaign appear sound — what government wouldn’t want to curb corruption, clean out counterfeit currency, digitalized more of the economy, get a larger swath of the society into the formal market, and increase tax revenue? — the way that it was carried out appears to have been pointlessly rushed and under-planned, which resulted in a large amount of undue pain and inconvenience heaved upon hundreds of millions of people. However, the people of India for the most part steadfastly went along with their top leader's ambitious plan, without any major protests, disruptions, or violence.
“In the long run, this is nothing short of a revolutionary measure in moving a traditional cash centric economy to a fourth industrial revolution era. It's audacious, brash, and a future-centered decision, which has changed India, its people, politics, and money game forever. India will be "before demonetization" and "after demonetization." BD and AD,” Prasad concluded.

By Wade Shepard

Contributor

http://www.forbes.com/sites/wadeshe...emonetization-campaign-are-in/2/#1aab21ed412f

 

[krish44]

All say demonetisation is good in the long run. How long one has to run to reach there? ask senior citizen.

I read about a 105 year old participating in a run.

This gives encouragement to all senior citizens.

One young lady outside RBI office in delhi wanting to change Rs 5000 in desperation stripped as she was unable to change the notes she had.

Most NRIs and indians with notes abroad are left in lurch.

Most have at least 5 to ten thousands.

Not many would like to visit india to change notes alone.

For once , indian govt has succeeded in collecting money from indians abroad .It is donation from them to indian exchequer

How many countries with indian presence has hawala operators?

We will find out now.

I liked the panchtantra like story posted by vganeji.

Indian crocodiles with millions stashed will get around the system.

More than 15 lakh crores have found its way back into the banking system.

Only we have increased the work load of banks and the income tax fellows.

Others have had a good laugh about demonetisation and moved on with life.

 

[Raji Ram]

Hmmm. Corruption free India! May be in our dreams!

Yesterday I saw my neighbour, who forgot to pay the electricity bill, discussing with the man who came to 'cut the power'!

Three hundreds went into that man's pocket and he left after requesting my neighbour to pay the due within evening!

 

[V.Balasubramani]

Others have had a good laugh about demonetisation and moved on with life.

Similarly most know the opinion of biased minds and naysayers.

They simple go through such postings with good laugh... and move on. LOL

 

[V.Balasubramani]

It is opinion of majority that counts.

And most know that there will be always a section which will be grumbling most of the time and there is no Government under the sun that can satisfy every citizen.

Demonetisation: 78 per cent people in Uttar Pradesh feel note ban positive step, says India Today Axis Poll

In UP the first phase of voting or Phase 1 voting will start on February 11 and the voting will end on March 8.


Lucknow, January 4: Almost a week after demonetisation process is over and post-note ban, slowly people across India are adjusting themselves to the new economy. In Uttar Pradesh where first phase (Phase-1) of elections will start on February 11, most of the people feel positive about note ban, India Today Axis Poll report said. Yes, it is true, around 78 per cent people in Uttar Pradesh feel note ban was a positive step taken by the Narendra Modi government.

How are people viewing demonetisation in Uttar Pradesh; India Today Axis Poll reports:

· 76 per cent people in Uttar Pradesh feel positive on note ban.
· Whereas 23 per cent people in Uttar Pradesh feel negative about note ban.
· Out of the total number around 58 per cent, people said that they faced problems during demonetisation and currency exchange.
· Around 42 per cent people said they did not face any problems during the process of demonetisation.
· Also, 5 per cent of people believes that black money would be eradicated.
· 27 per cent common man faced problem after demonetisation.
· Also, 18 per cent people felt that the move taken by Narendra Modi government was good for poor.
· Three per cent people in Uttar Pradesh felt that demonetisation was not a problem at ll for them.

The Election Commission on Wednesday afternoon announced poll dates for the much awaited Uttar Pradesh Assembly Elections and informed that the elections will be conducted there in seven phases. In UP the first phase of voting or Phase 1 voting will start on February 11 and the voting will end on March 8. The counting will begin on March 11 and on same day results will be declared. According to reports, in Uttar Pradesh, there are around 13.5 million voters which hold 403 Assembly Constituencies.

In Uttar Pradesh, the main parties in the state are the ruling Samajwadi Party (SP), Bahujan Samaj Party (BSP), Bharatiya Janata Party (BJP), and the Indian National Congress (INC). In the history of Uttar Pradesh, the current election will be the most interesting one as the ongoing war between Akhilesh Yadav and Mulayam Singh Yadav has caught nationwide attention and there are chances that there might be several flip-flops in next few days.
In last two months demonetisation has dominated the national discourse, but it was hardly able to overshadow the feud in Samajwadi Part in Uttar Pradesh. Experts believe that there are few chances that demonetisation may affect the state assembly elections as they have their own flavour, mostly decided by local issues and there are very few chances that it may affect the Elections which will be held in six states next month. But black money transaction and huge expense of campaigning may be affected directly due to the cash crunch.

Source: http://www.india.com/news/india/demo...-poll-1740775/​

 

[V.Balasubramani]

Hmmm. Corruption free India! May be in our dreams!

Yesterday I saw my neighbour, who forgot to pay the electricity bill, discussing with the man who came to 'cut the power'!

Three hundreds went into that man's pocket and he left after requesting my neighbour to pay the due within evening!

Aiming and achievement are quite different.

There is some degree of corruption exists through out the world.

Even in developed countries.....!

Who knows what was practiced during vedic period. Why then the Vedas talk about corruption…??

------------------------------------------------------------------------------------------------------------------

Recognizing its utility to mankind Rig Veda has been accorded the status of “Heritage” by UNESCO. Rig Veda contains a large number of hymns/riks on the causes of corruption and how to eliminate the same in any mosaic society of individuals following different ptofessions. In the other three Holy Vedas also a few mantras/hymns relate to Corruption.

Sama Veda 179 and 913 describes Corruption as hydra headed, having nine heads (nine kinds) and it enters the human body through ninety nine sources i.e. nine kind of corruption enters through five senses, five sense organs and etani i.e. the outward looking mind (9X11==99). Later Ramayana described this evil through nine corrupt heads of Ravana. We burn his nine corrupt heads every year on Dussehra day. Similarly later Mahabharata described 99 sources of entry of corruption through 99 corrupt sons of blind Kaurva king Dhritrashtra.

99 vritras (powers of evil) are mentioned in Rig Veda 1-84-13. It further says in 1-104-3 taking bribe for money belonging to the state is misappropriation of public funds. All bribe takers are thieves of God and they get rebirth in the foulest of the womb (confirmed even in Bhagavad-Gita). R.V 3-34-6 and Yajur Veda 30-22, the corrupt people should not be allowed by the ruler to mix with people following chatvar varnasharam (four divine professions). Y.V 30-19 and R.V 5-61-8 mention that those persons who praise and justify are also corrupt persons, keep away from them. R.V 1-42-4 even mentions keep away from Gurus (preceptors) who take donations/charity.

Causes of Corruption

1. The corruption creeps in society when the matter is considered as inert and the members of society do not find any sin in treating the benign mother earth as a quarry. In Rig Vedas spirit of God is in theshuniya (cosmic void) of each sub atomic particle of atom- the building block of matter. Hence the matter has unsuspected vitality and its use on need based living is virtue and its excessive use is a sin. Corruption creeps in a society where economics (artha) is based on inert matter and the possession of wealth/any kind of matter having predominance oftamasic guna of stupor is considered as a matter of pride.

MAYA creates a Golden dazzling Disc for such individuals and hides the truth and Supreme Reality for them. Maya also creates the greatest miracle that we search for God every where when He resides in our hearts.

2. Rig Veda further says that purpose of human birth is to assist nirguna Brahma(ineffable and formless God) who is also Supreme Architect (Viswakarma) in the maintenance of His Grand wondrous Design. For the maintenance of this Design, He has created Rta- eternal cosmic laws of necessity and wants all human beings to follow the same. Having created these eternal laws of nature “He Himself” follows them sternly lest a great harm is done to the cosmic creation. Thus He and His Laws (Rta) are the same. When the individuals in any society starts ignoring these laws available to human beings through the Book of Nature (which even blind individuals can read), corruption creeps in society.

3. R.V 10-34-13 also says that any kind of gambling particularly the game of dice is also cause of corruption. The vehement effect of this evil of the game of dice was described in Mahabharata.
Corruption destroys all the noble attributes of human beings due to pursuit of only material knowledge bereft of spiritual and divine knowledge, which in Vedas is ignorance/nescience/ajnan. (R.V 1-129-6). Only harmonized divine, spiritual and material knowledge is true knowledge (Janan) inVedas.

Start of Corruption

Rig Veda says when even one human being dies of starvation, it is a signal that corruption has crept in society and avarnas (followers of non divine professions) who want honour, power and wealth for themselves have started multiplying. In Kaliyuga (Dark Age) their number far exceeds the followers of divine professions (varnas). Ethics and community welfare becomes the greatest casualty. Rig Veda says the thieves of God (bribe givers/takers) who consider matter as inert become insensitive to hydra headed corruption and resort to ostentatious worship and donations/gift culture to gain social recognition. Most of them drift from darkness to utter darkness through meditation (Isa Upanishad and Yajur Veda). The various virtuous concepts like iddm nan mmam–nothing for self all for society akin to enlightened liberalism of Aristotle, moderation of Vedas/middle path of Buddha and the noble concept of illusion of comfort in the vast turbulent sea of matter (Vedic Phantasmagoria-Cosmic delusion MAYA) are no longer considered as virtue in the materialistic corrupt society dominated by non divine avarna, vritras, kimidin etc.

In India this evil of corruption is now becoming “Leviathan” and giant demon and is spreading like wild fire. The guide lines given by the wise metaphysicists (rsis of yore) and wandering sages (munnies of the Vedic period) can help in arresting this nefarious and extremely dangerous drift. Kautaliya in his socio-political treatise “Arthashastra” (partly based on Vedic metaphysics) clearly says the evil of corruption spreads faster when the state gives lip sympathy to curb corruption and promote honesty.

For more details on corruption and other main subjects of Vedas, “Glimpses of Vedic Metaphysics” for on line reading and even taking print at no cost is available on the Internet. Website ishttp://www.sabhlokcity.com/metaphysics/. Also the book can be accessed through search engines of google.com, yahoo.com, lulu.com. Search for the book “Glimpses of Vedic Metaphysics” or just “Vedic Metaphysics”.

This Vedic Message is based on the following hymns/mantras of Vedas
Sama Veda 179 and 913, Rig Veda 1-84-13, 1-104-3. R.V 3-34-6, R. V 5-61-8, 1-42-4, R.V 10-34-13, R.V 1-129-6. Yajur Veda 30-22, Y. V 30-19.

With kind regards,
Your spiritual brother
P.K.Sabhlok

Source: http://prem.sabhlokcity.com/2010/01/16/what-vedas-say-about-deadly-disease-corruption/

 

[krish44]

It is opinion of majority that counts.

And most know that there will be always a section which will be grumbling most of the time and there is no Government under the sun that can satisfy every citizen.

Demonetisation: 78 per cent people in Uttar Pradesh feel note ban positive step, says India Today Axis Poll

In UP the first phase of voting or Phase 1 voting will start on February 11 and the voting will end on March 8.


Lucknow, January 4: Almost a week after demonetisation process is over and post-note ban, slowly people across India are adjusting themselves to the new economy. In Uttar Pradesh where first phase (Phase-1) of elections will start on February 11, most of the people feel positive about note ban, India Today Axis Poll report said. Yes, it is true, around 78 per cent people in Uttar Pradesh feel note ban was a positive step taken by the Narendra Modi government.

How are people viewing demonetisation in Uttar Pradesh; India Today Axis Poll reports:

· 76 per cent people in Uttar Pradesh feel positive on note ban.
· Whereas 23 per cent people in Uttar Pradesh feel negative about note ban.
· Out of the total number around 58 per cent, people said that they faced problems during demonetisation and currency exchange.
· Around 42 per cent people said they did not face any problems during the process of demonetisation.
· Also, 5 per cent of people believes that black money would be eradicated.
· 27 per cent common man faced problem after demonetisation.
· Also, 18 per cent people felt that the move taken by Narendra Modi government was good for poor.
· Three per cent people in Uttar Pradesh felt that demonetisation was not a problem at ll for them.

The Election Commission on Wednesday afternoon announced poll dates for the much awaited Uttar Pradesh Assembly Elections and informed that the elections will be conducted there in seven phases. In UP the first phase of voting or Phase 1 voting will start on February 11 and the voting will end on March 8. The counting will begin on March 11 and on same day results will be declared. According to reports, in Uttar Pradesh, there are around 13.5 million voters which hold 403 Assembly Constituencies.

In Uttar Pradesh, the main parties in the state are the ruling Samajwadi Party (SP), Bahujan Samaj Party (BSP), Bharatiya Janata Party (BJP), and the Indian National Congress (INC). In the history of Uttar Pradesh, the current election will be the most interesting one as the ongoing war between Akhilesh Yadav and Mulayam Singh Yadav has caught nationwide attention and there are chances that there might be several flip-flops in next few days.
In last two months demonetisation has dominated the national discourse, but it was hardly able to overshadow the feud in Samajwadi Part in Uttar Pradesh. Experts believe that there are few chances that demonetisation may affect the state assembly elections as they have their own flavour, mostly decided by local issues and there are very few chances that it may affect the Elections which will be held in six states next month. But black money transaction and huge expense of campaigning may be affected directly due to the cash crunch.

Source: http://www.india.com/news/india/demo...-poll-1740775/​

In UP it is the opinion of 31% who vote for a single party that matters.

Mayavathi controls 18%. Requires 13 % which muslims with samajwadi party, brahmins constituting 8% amongst others who can provide .

Nearly 100 constituencies are marginal where less than 5000 votes can change the winner..

A weak samajwadi party with dissensions is good for Mayawathi.

BJP would then have to fight Mayawathis party.

In fact the fate of UP and india in larger context is tied to UP elections.

UP may throw up a surprise which many do not discount at present.

Demonetisation may cease to be a factor in 6 weeks or so.

Temple issue and religeous polarisation may not help

 

[V.Balasubramani]

In UP it is the opinion of 31% who vote for a single party that matters.

Mayavathi controls 18%. Requires 13 % which muslims with samajwadi party, brahmins constituting 8% amongst others who can provide .

Nearly 100 constituencies are marginal where less than 5000 votes can change the winner..

A weak samajwadi party with dissensions is good for Mayawathi.

BJP would then have to fight Mayawathis party.

In fact the fate of UP and india in larger context is tied to UP elections.

UP may throw up a surprise which many do not discount at present.

Demonetisation may cease to be a factor in 6 weeks or so.

Temple issue and religeous polarisation may not help

One dominant Party’s popularity graph in U.P is reported to be sliding down fastly.

Some predict the impossible of foes coming to-gether - one can see snake and mongoose playing together

And there is Mahagathbandan….

As such, it is going to be a BJP Vs BSP tight contest..

Buoyant Amit Shah has already set important targets and is working out on that ..

The year 2017 will present a major challenge for the BJP

And the Party is ready to meet the challanges

Amid all these, most know the Forum's doomsayers are active in conveying their predictions.

 

[vgane]

A blessing in disguise! Reduction in terrorist incidents in Kashmir is a good sign!! But how do we ensure that once money gets freely available as part of remonetization, it should not be back to square one!!

Note ban: J-K sees 60% dip in terrorism-related violence

January 07, 2017 11:06

---

The call traffic between hawala agents in India dropped almost by half post demonetisation, says a recent assessment by the central intelligence agencies. Payments to the end beneficiary of hawala deals are traditionally in cash, with Rs 500 and Rs 1,000 being the favoured denominations.


The demonetisation of these high-value notes on November 9 severely affected hawala operators, and going solely by call traffic, their business may be down by 50 per cent, said an intelligence source.


Terror funds are mostly sourced in counterfeit currency, comprising high-quality fake notes that Indian agencies suspect are printed at the Pakistan government printing press in Quetta and its security press at Karachi.


Given this fact and the drop in hawala transactions, demonetisation has dried up funds used for organised stone-pelting in Kashmir and paying overground terror supporters in the state.


Intelligence officials claim that terrorism-related violence in J&K dipped by 60 per cent post the cash ban, with only one major blast reported from the valley in December.


An intelligence official claimed that apart from organised stone-pelting, a direct casualty of demonetisation in J&K was the overground network of terror facilitators.


http://news.rediff.com/commentary/2...ted-violence/955620568eb964b46d4848452eaeec18

 

[vgane]

[h=1]I-T Dept detected Rs 4,807 cr black income post-demonetisation[/h]January 08, 2017 14:16

---

Over Rs 4,807 crore of undisclosed income has been detected while new notes worth Rs 112 crore have been seized by the Income Tax department as part of its country-wide operations against black money hoarders post demonetisation.

Official sources said the taxman carried out a total of 1,138 search, survey and enquiry operations under the provisions of the Income Tax Act since the note ban was declared on November 8 last year, even as the department has issued 5,184 notices to various entities on charges of tax evasion and hawala-like dealings.

The department, they said, has seized cash and jewellery worth over Rs 609.39 crore during the same period even as the new currency seized (majorly Rs 2,000 notes) is valued at about Rs 112.8 crore.

The value of the seized jewellery in this is Rs 97.8 crore.

"The total undisclosed income admitted or detected as part of this action, till January 5, is Rs 4,807.45 crore," they said.

The agency has also referred a total of 526 cases to its sister agencies like the Central Bureau of Investigation and the Enforcement Directorate to probe other financial crimes like money laundering, disproportionate assets and corruption as part of their legal mandate. -- PTI

http://news.rediff.com/commentary/2...monetisation/539c103a6f0bd345b73f4d6326ba9861

 

[vgane]

A good one!!

 

[Janaki Jambunathan]

How a guest proposed a novel way to deal with bedbugs in a wooden house.

Story nothing to do with demonitisation

https://scroll.in/article/825894/an...hing-and-everything-to-do-with-demonetisation

 

[tbs]

How a guest proposed a novel way to deal with bedbugs in a wooden house.

Story nothing to do with demonitisation

https://scroll.in/article/825894/an...hing-and-everything-to-do-with-demonetisation

hi

in tamil.....

யாரோ ஒருத்தன் ....மூட்டை பூச்சிக்கு பயந்து ....தன் வீட்டை நெருப்பு போட்டு எரித்தானாம்.....

 

[Janaki Jambunathan]

hi

in tamil.....

யாரோ ஒருத்தன் ....மூட்டை பூச்சிக்கு பயந்து ....தன் வீட்டை நெருப்பு போட்டு எரித்தானாம்.....

Eliye pedichu illam chudaruthu! - in Malayalam/Indian.

 

[prasad1]

 

[prasad1]

[FONT=&quot]The "atrociously planned and executed" currency ban and a subsequent cash crunch has made life increasingly difficult for Indians, the New York Times has said in its latest hard-hitting editorial criticising Prime Minister Narendra Modi's move to check black money and corruption.[/FONT]
[FONT=&quot]The daily said in an editorial on Monday that there was little evidence that it had identified black money hoarders or curbed graft in the country.[/FONT]
[FONT=&quot]"Two months after the Indian government abruptly decided to swap the most widely used currency notes for new bills, the economy is suffering," the Times said.[/FONT]
[FONT=&quot]"The manufacturing sector is contracting; real estate and car sales are down; and farm workers, shopkeepers and other Indians report that a shortage of cash has made life increasingly difficult," it said.[/FONT]
[FONT=&quot]Prime Minister Narendra Modi announced on November 8 that the high value currency that made up 86 per cent of all currency in circulation could no longer be used in most transactions and would be replaced by new Rs 500 and Rs 2,000 notes.[/FONT]
[FONT=&quot]Modi said this was necessary to combat corruption, black money and terror funding.[/FONT]
[FONT=&quot]"But the swap was atrociously planned and executed. Indians had to line up for hours outside banks to deposit and withdraw cash," the daily observed.[/FONT]
[FONT=&quot]"New notes have been in short supply because the government did not print enough of them in advance. The cash crunch has been worst in small towns and rural areas."[/FONT]
[FONT=&quot]"The amount of cash in circulation fell by nearly half, from 17.7 trillion rupees ($260 billion) on November 4 to 9.2 trillion ($135 billion) on December 23," the Times said citing the Reserve Bank of India.[/FONT]
[FONT=&quot]"No economy can lose that much currency in a few weeks without creating major hardship -- certainly not one like that of India, where cash is used for about 98 per cent of consumer transactions by volume.[/FONT]
[FONT=&quot]"And while a growing number of people have debit cards and cellphones that can be used to transfer money, most merchants are not set up to accept such electronic payments," the Times said.[/FONT]
[FONT=&quot]The editorial said: "There is little evidence that the currency swap has succeeded in combating corruption or that it will forestall future bad behaviour once more cash becomes available."[/FONT]
[FONT=&quot]The government had said that people bringing more than Rs 250,000 of the old notes to banks would have to show that they had paid taxes owed on the money.[/FONT]
[FONT=&quot]"Because of those rules, officials had expected that a lot of black money would never make it back to banks.[/FONT]
[FONT=&quot]"Yet news outlets are reporting that Indians have successfully deposited the vast majority of old notes. That suggests that either there wasn't as much black money out there as the government claimed or that tax cheats found a way to deposit their hoards of cash without attracting the government's attention, perhaps with the help of money launderers.
https://in.news.yahoo.com/indians-suffering-atrociously-planned-note-ban-nyt-134603821.html[/FONT]

 

[krish44]

Indians have taken demonetisation in their stride.

Now life at least in delhi is back to near normal.

In UP elections , it may not be an issue-but budget would be if there are sops for income tax paying class.

 

[V.Balasubramani]

TAX EVASION SUSPECTED IN RS 3-4 LAKH CR DEPOSITS POST NOTE BAN

As it analyses bank deposits post- demonetisation, the government has found that an estimated Rs 3-4 lakh crore of tax-evaded income could have been deposited during 50-day window provided to get rid of junked Rs 500/1000 notes.

A senior official said Income Tax Department has been asked to scrutinise details and send notices to depositors of of Rs 3-4 lakh crore on which tax could have been evaded.

"We now have trunkloads of data, analysis of which shows that more than Rs 2 lakh was deposited in over 60 lakh bank accounts post demonetisation. The total amount deposited in these accounts is more than 7.34 lakh crore," he said.

More than Rs 10,700 crore cash was deposited in different accounts in the North Eastern states since November 9, he said adding the Income Tax Department and the Enforcement Directorate are looking into over Rs 16,000 crore deposited in different accounts of cooperative banks.

Also, it has come to light that Rs 25,000 cr cash was deposited in dormant bank accounts while nearly Rs 80,000 cr of repayment of loans was done in cash since November 8, 2016 when the government demonetised old 500 and 1000 rupee notes.

Holders of the old currency were given an option to exchange or deposit them in bank accounts untill December 30.

"Starting from November 8, 2016 various reports were called for from the banks based on different threshold of cash deposits made by different categories of persons. The reports were collated and analysed based on intelligence which has been available in the Government data bases," the official said.

After in-depth analysis, these reports have been disseminated to Income Tax Department, the Enforcement Directorate (ED) and other Law Enforcement Agencies.

Read more at: http://www.dailypioneer.com/top-sto...in-rs-3-4-lakh-cr-deposits-post-note-ban.html