India politics thread

[ghagua]

So what happens to the politicians? Every one of them is corrupt to the core and dealing in everything. Not just picking on Indian politicians, but all of them in South East Asia. How long will it take for regular people to revolt against this kind of shite?

 

[berbatrick]

So what happens to the politicians? Every one of them is corrupt to the core and dealing in everything. Not just picking on Indian politicians, but all of them in South East Asia. How long will it take for regular people to revolt against this kind of shite?

I hate him, but Modi was (partly) a revolt. So was Kejriwal (current Chief Minister of Delhi).

 

[Moby]

I hate him

That is pretty evident in this thread.

 

[newgiz]

I was assured somewhere in this thread that having an account wasn't the essential thing. It was access to a bank or post-office. If you want to point out that Aadhar has spread, that is a valid point.
But. The vastly different scales of what was proposed than and now are still relevant. Phasing out older notes is a constant and long drawn-out process, and affected much lesser notes in circulation over a much longer time.

I gave a reason which in my opinion makes a huge difference. If you can't see that rhen I don't wish to continue this argument.

Also you put up a very strange argument, aadhar and access to a bank/post office are still enough to get cash amounts. Your argument is quite tangential and doesn't acknowledge a few facts either.

Over the next few days micro AtMs and post offices will start shelling out money. Lets hope it goes well.

 

[Moby]

The ATM bus in Bangalore is great.

 

[newgiz]

So what happens to the politicians? Every one of them is corrupt to the core and dealing in everything. Not just picking on Indian politicians, but all of them in South East Asia. How long will it take for regular people to revolt against this kind of shite?

What happens to the politicians you ask. Well some of them are scrambling to try and save their ill-gained wealth.

And before someone tells me...'Ha ha' they hold foreign accounts or they don't hold cash... think again and let me know how you think 'Cash for votes ' works as the politician is certainly not withdrawing money from his official account to shell out money.

Not every politician will have a foreign account and now with the various treaties the government has moving large sums of money will be difficult going forward.

 

[The Man Himself]

That is pretty evident in this thread.

 

[RedDevil@84]

What happens to the politicians you ask. Well some of them are scrambling to try and save their ill-gained wealth.

And before someone tells me...'Ha ha' they hold foreign accounts or they don't hold cash... think again and let me know how you think 'Cash for votes ' works as the politician is certainly not withdrawing money from his official account to shell out money.

Not every politician will have a foreign account and now with the various treaties the government has moving large sums of money will be difficult going forward.

That is why there are corporates and businessmen who are assured of deals once govt comes to power.
Anyways, there will be some politicians who are scrambling as you say. But many of them will certainly be relaxed. They have been there, done that. And not many sit nowadays with cash under their beds and inside car seats and such things.
It will be interesting how govt goes against benami properties. Hope they come up with strict implementation rather than a diluted one.

 

[VP]

I know we're a nation of fanboys and hero worship comes naturally to us but the level of devotion to Modi is genuinely worrying.

This was a nice idea but it's clear it has been terribly executed - yet I'm seeing lot of 'Modi Masterstroke' and patronising messages for the poor to suck it up and wait in line. Like this:

Also I find that many parties, journalists are simply hiding behind this idea that the 'poor' are the most inconvenienced. The 'poor' stand in queue to get rations from the government stores and I never saw any of these journalists sympathize with them before and write long articles about it. I find the sudden 'love' that some parties,journalists are showing now for the poor, to be rather hypocritical.

As for the general public, as I have said previously, people can stand in a long line to watch their favorite movie on the first day, or get a Jio SIM, or stand outside the H & M store,or go to a roadies audition, but suddenly can't tolerate standing in front of a bank. What can I say .

I'm not sure which journalists you follow but India's pathetic delivery of public services to the poor has always been covered extensively.

Secondly, people choose to stand a line for a Jio SIM and H&M store - there is no choice here. It's a silly comparison.

 

[Varun]

Stood in line to withdraw cash from my own bank today. The guy behind me asked if I can't enter just showing my ID, told him I can but choose not to as it'd be unfair. The happiness on his face, beautiful to see. Says that's his moment of the day.

 

[The Man Himself]

Stood in line to withdraw cash from my own bank today. The guy behind me asked if I can't enter just showing my ID, told him I can but choose not to as it'd be unfair. The happiness on his face, beautiful to see. Says that's his moment of the day.

Good lad. I knew all that I taught you will never go waste. x

 

[Akshay]

Stood in line to withdraw cash from my own bank today. The guy behind me asked if I can't enter just showing my ID, told him I can but choose not to as it'd be unfair. The happiness on his face, beautiful to see. Says that's his moment of the day.

Meanwhile somewhere in a lonely room your cousin is crying softly about his empty clan..

 

[Varun]

Meanwhile somewhere in a lonely room your cousin is crying softly about his empty clan..

Don't even remind me of that day

Good lad. I knew all that I taught you will never go waste. x

 

[RedDevil@84]

I know we're a nation of fanboys and hero worship comes naturally to us but the level of devotion to Modi is genuinely worrying.

This was a nice idea but it's clear it has been terribly executed - yet I'm seeing lot of 'Modi Masterstroke' and patronising messages for the poor to suck it up and wait in line. Like this:



I'm not sure which journalists you follow but India's pathetic delivery of public services to the poor has always been covered extensively.

Secondly, people choose to stand a line for a Jio SIM and H&M store - there is no choice here. It's a silly comparison.

You missed the "Jawan at Siachen" comparison

 

[harshad]

Meanwhile somewhere in a lonely room your cousin is crying softly about his empty clan..

More details please

 

[The Man Himself]

More details please

Relax. It is about some game. Not involving anything like your tagline suggests.

 

[harshad]

Relax. It is about some game. Not involving anything like your tagline suggests.

I know. I play that game.

 

[VidaRed]

Everyone knows im no modi fanboi but i do believe this will help to eliminate a good portion of the black money.

Reasons why it wasn't implemented properly as per people around:

- if they had printed more notes of 2000 and 500 then it would have given away the surprise element

- if they had fixed the atm's from 2000 notes then that too would have given it away

- they couldn't have given a month's notice because the whole thing would work if it was a sudden move.

I think we have to weather the storm for the greater good of the nation, although i also believe the move was politically motivated aswell.

 

[newgiz]

That is why there are corporates and businessmen who are assured of deals once govt comes to power.
Anyways, there will be some politicians who are scrambling as you say. But many of them will certainly be relaxed. They have been there, done that. And not many sit nowadays with cash under their beds and inside car seats and such things.
It will be interesting how govt goes against benami properties. Hope they come up with strict implementation rather than a diluted one.

No..You are missing my point.When I spoke about 'Cash for Votes' I specifically meant that the cash circulated during election period is black money. They don't store it under their beds, but they do store it.

 

[newgiz]

Went to a Syndicate bank ATM just an hour ago and withdrew 2k in 10 minutes. I must have been lucky because there were only a few people ahead of me.

 

[Neelu]

Rahul Gandhi just accused Modi of not informing more than 3-5 people of this decision and then accusing that everyone in BJP knew of this decision. Why cant we have a serious leader of opposition in this country?

 

[Shiva87]

Went to a Syndicate bank ATM just an hour ago and withdrew 2k in 10 minutes. I must have been lucky because there were only a few people ahead of me.

Its becoming quite common now. There are 3 ATMs in my office building. They run out of cash in 1 hour of being reloaded. But, I just went across the road and got money in 15 mins!

 

[Moonred]

Most of us really should be trying to avoid the ATMs, Banks and let those who need the most get access quickly.

 

[prath92]

ATMs have long queue near my uncles house. Too long at times

 

[Moby]

10 minutes max at several ATMs I have visited across the city.

 

[newgiz]

Rahul Gandhi just accused Modi of not informing more than 3-5 people of this decision and then accusing that everyone in BJP knew of this decision. Why cant we have a serious leader of opposition in this country?

There should be good opposition in the country. Unfortunately we are stuck with Rahul and Kejriwal. .

Edit: Among all of the current opposition leaders, I think Nitish Kumar is the best.

 

[RedDevil@84]

Rahul Gandhi just accused Modi of not informing more than 3-5 people of this decision and then accusing that everyone in BJP knew of this decision. Why cant we have a serious leader of opposition in this country?

Rahul Gandhi is stuck in the wrong job. It is better he is ignored. I pity him though. He is not a politician, he is no leader, he is just born in the wrong family. He should have become a lousy manager in one of the Indian IT firms who makes a mess of things with his crazy solutions.

 

[RedDevil@84]

I am hoping that the indelible ink trick will at least reduce the lines in the bank moderately. That should help some needy people get the money asap. A 70 yr old man near my colleague's house waited for around 2 hrs in the bank line and before his turn came, bank put the no cash shutters and asked him to come the next day.

 

[ghagua]

I know we're a nation of fanboys and hero worship comes naturally to us but the level of devotion to Modi is genuinely worrying.

This was a nice idea but it's clear it has been terribly executed - yet I'm seeing lot of 'Modi Masterstroke' and patronising messages for the poor to suck it up and wait in line. Like this:



I'm not sure which journalists you follow but India's pathetic delivery of public services to the poor has always been covered extensively.

Secondly, people choose to stand a line for a Jio SIM and H&M store - there is no choice here. It's a silly comparison.

I simply cannot understand how people get duped into doing that. It's not just Modi, but their are other politicians who are treated the same.

 

[Rory 7]

10 minutes max at several ATMs I have visited across the city.

I'm in Delhi at the minute. It is pure chaos for people, crowds outside banks. We drove past a bit of trouble at one today.

 

[Moby]

Demonetisation appears to be carpet bombing, not surgical strike: Supreme Court
http://indianexpress.com/article/bu...nd-not-surgical-strike-supreme-court-4376618/

 

[Moby]

but their are other politicians who are treated the same.

Just WTF.

 

[RedDevil@84]

Just WTF.

Goa CM did an Amma style namaste to Modi in recent rally. Modi ignored the guy, but CM's actions were cringeworthy.

 

[newgiz]

Just WTF.

You must have never been to Tamil Nadu.

 

[Insanity]

Raghuram Rajan preferred other ways over demonetisation to tackle black money

Even as the government defends the demonetisation exercise amid growing opposition, it has emerged that former RBI governor Raghuram Rajan didn’t think much of it. He said there are other ways of tackling black money.

In August, at the annual Lalit Doshi memorial lecture, Rajan said, “I am not quite sure if what you meant is demonetise the old notes and introduce new notes instead. In the past, demonetisation has been thought of as a way of getting black money out of circulation. Because people then have to come and say “how do I have this 10 crores in cash sitting in my safe and they have to explain where they got the money from. It is often cited as a solution. Unfortunately, my sense is, the clever find ways around it.”

On November 8, in a sudden announcement that took everyone by surprise, the government demonetised high denomination bank notes – 500 and 1,000 currency notes .

Rajan had said, “Black money hoarders find ways to divide their hoard into many smaller pieces. You find that people who haven’t thought of a way to convert black to white, throw it into the hundi in some temples. I think there are ways around demonetisation. It is not that easy to flush out the black money.”

Read | Taking out high-value notes can affect the stock but not the flow of black money

A fair amount of unaccounted cash is typically in the form of gold and therefore even harder to catch, said Rajan, adding that he would focus more on incentives that lead to generation and the retention of black money. There were a lot of incentives on taxes and the current tax rate in the country was for the most part reasonable, he added.

Under demonetisation, a currency unit is declared no longer legal tender. In such cases, the old units of a currency must be replaced with new currency units. This is usually done whenever there is a change of national currency.

Similar steps were taken when the European Monetary Union nations decided to adopt the euro as their currency. However, people were allowed to convert the old currencies into euros for some time to ensure a smooth transition.

Zimbabwe, Myanmar, Fiji, Singapore and Philippines among other countries too have demonetised currency.

Rajan had further said he didn’t understand why people didn’t pay taxes in the country, where taxes were lower as compared to industrial nations.

The maximum tax rate in India on high incomes is 33%. In the United States, it is already 39% plus state taxes, etc., taking it to nearly 50%.

http://www.hindustantimes.com/busin...black-money/story-vlTbd6oixy6M4DnH65dWxI.html

 

[Insanity]

There’s little connection between cash in economy and corruption

Cash in circulation in an economy has little correlation with corruption, a comparative analysis of World Bank and Transparency International data suggests, deepening suspicion that those with black money prefer to keep their ill-gotten wealth in other forms of assets.

While figures show that India holds 11.8% of its economy in cash and is ranked a poor 76th in the global corruption ranking. Germany, at 9th in the graft ranking, has a 8.7% cash economy.

Sweden, one of the world’s top three least corrupt countries, and Nigeria, one of the worst, has near similar proportion of cash in their economies.

The findings raise further doubts over the efficacy of the Centre’s drive against black money by demonetising 500 and 1,000 currencies since most of the unaccounted for wealth in the country is perhaps not held in cash.

Prime Minister Narendra Modi on November 8 announced the recalling of Rs 500 and Rs 1000 with the twin purpose of absorbing black money held in cash and to check counterfeit currencies.

Critics of the demonetising scheme argued the move would do little to unearth black money hoarded by the rich who park their cash in different asset classes than keep it idle. Hindustan Times on Saturday reported that cash recovery has been less than 6% of the undisclosed income seized from tax evaders.

Hindustan Times analysed the cash in circulation and GDP of 26 countries – 12 top economies barring the US and China, 12 very corrupt countries with stable governments, and three mid-sized economies with varying corruption ranks.

The findings suggested India’s cash in circulation as a portion of GDP was near about international standards.

France, for example, holds 9.4% in cash and is ranked 23 by the anti-graft body, Transparency International. Experts said India’s marginally more cash proportion could be because a majority of Indians depend on cash for daily transactions in absence of inadequate banking facilities.

Japan, the world’s third largest economy and ranked 18th on the corruption index, has 20.7% cash economy.

The analysis of data showed up another interesting fact: Russia, the world’s 13 largest economy and Spain, the 14th largest, shared the same proportion of cash economy.

Yet, Russia is ranked 119 on the corruption index while Spain is a lot cleaner at 36. Corruption, the data suggested, had little impact on their cash in circulation.

http://www.hindustantimes.com/busin...-corruption/story-EthX7dL7j2m1szcQkPUi7N.html

 

[Insanity]

But worry not folks. I have on good authority from 'Bhakts' (Our basket of deplorables), that Kalyug ke Ram jald hi ache din layenge.

#AbAcheDinAaneWaleHain

 

[prath92]

IMF and Forbes have also come out and said this has been a good idea (albeit could maybe have managed better). But hey what do they know

 

[RedDevil@84]

On a brighter note, govt was forced to cut down on petrol prices due to again fall in global prices.
At least Bhakts didnt need to tell me that keeping our petrol prices stable (by increasing duties) even if oil prices globally hit rock bottom is a patriotic idea.

 

[kps88]

SP saying they will accept old notes for land registration. Maharashtra CM (BJP) saying he has allowed Marathi theaters to accept old notes. How can this happen? Each state can't decide on their own which businesses are allowed to accept old notes. You're just opening more avenues for people to use their dirty money.