Demonetisation of Rs.500 and Rs.1000. Is this an effective step to bring back black money ?

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avniash said:Fri, September 8, 2017, 7:44:59 pm

Demonetization of Rs 500 and Rs 1000 note was very nice step taken by the government to bring back the black money because of this step many people who have black money have to show it out or they will be caught easily because when someone save more amount of money they usually keep in Rs 500 and Rs 1000 denomination so now people has to show and give an explanation to the government about their income and this black money which they had for long time.

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Anonymous said:Sat, September 2, 2017, 11:24:27 pm

Every step has some positive points and some negative. No one is perfect in this world. According to me Demonetisation is definitely an effective step in bringing out black money. No matter it caused lot of troubles for people because they had to spend hours standing in line just to get their notes exchanged. But on the other hand it also helped bringing a lot of black money out. Approximately 15 lakh crore black money is recovered. And it has also helped in removing fake notes from circulation. Hence Demonetisation is an effective step taken by government.

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Arnab said:Sat, August 19, 2017, 12:33:40 am

Demonetization of Rs500 and Rs 1000 note may help in bringing the black money out but what about the adverse effect that normal people are facing. One can see in newspaper that there are many people who has lost there life because of this move in one case a girl dies because the hospital denied to take the 500 and 1000 denomination notes, another case an old man dies because of standing in the sun to get his notes exchanged how fair is this to normal people to go through all this? It is getting difficult for the people to lead their daily life.

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Shravan said:Fri, May 26, 2017, 5:29:22 am

It is a very good step taken by the government to bring back the black money, the people have black money will be caught be but this step has badly affects the poor the street vendors who are unable to earn as people are out of cash so they using online platform to buy the things as they can pay through card so this is loss for the poor people even if you see the street vendors usually do not have bank accounts now it has become problem for them to exchange the money. Though this is a good step but because of this many other people are getting affected.

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Sampat said:Sat, April 8, 2017, 9:41:35 pm

Yes, it is a most important advantage to the country and good decision to combat black money.

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Shreya said:Thu, December 15, 2016, 11:04:10 am

Many people has saved lot of money which they have possessed in wrong way and has kept it safely at their homes or at different places and as we all know that the bigger amounts are usually transacted in the denominations of 500 and 1000 rupee notes so in order to bring this black money out government has taken one of the big step by denomination the 500 and 1000 rupees note which may somehow bring the black money that people has stored with them in the past few years.

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Vidya said:Thu, December 15, 2016, 11:04:02 am

The sudden outburst of demonetization of Rs 500 and Rs 1000 was a very calculative and very secretively worked move by our PM. Great job done by the whole team who were working in this as no one was told about this in advance this sudden burst will definitely help to bring the black money from the people who have the amount in their home or in the same bank account because now after this even the accounts of the people will be closely monitored so it is very much sure that the black money to some extent will be out.

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Arvind said:Thu, December 15, 2016, 11:03:56 am

The government has done a great job by demonetization of Rs 500 and Rs 1000 notes the news has come like a lightning thunderbolt on the people, after this news was disclosed people went numb and blank as it was at 8pm when the news disclosed. This was one of the good move that was made in order to get the black money back but the important thing to think about is whether it was the only step that can bring the black money out? Because bringing this rule may bring black money to some extent but more than the people who have black money normal people are suffering more.

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Amit Kumar said:Thu, December 15, 2016, 11:03:50 am

Demonetization of Rs 500 and Rs 1000 came as thunder bolt on people as it was executed in many secret manner the step will bring black money but the important thing to take notice of is that this step has brought many adverse effects and along with this they should have planned it in far more better way because people are struggling to meet their day to day needs because of this moreover this step has hit the business badly. So it would have been better if they would have planned and made this easy for the normal people to deal with it.

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Prince said:Thu, December 15, 2016, 11:03:39 am

Demonetization of 500 and 1000 notes was a very good idea and plan which was was very secretly executed this will definitely help to bring the black money out to good extent. But the adverse effect of this was on normal people more because they now have to stand in queue and get the notes exchanged apart from this the small scale industries and street vendors got more affected by this. Definitely with this plan we will be able to get good amount of black money from the people who were indulge in this.

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Rashi said:Thu, December 15, 2016, 11:03:26 am

How much does the government has earned or caught the black money in the last two weeks? Was they really able to get the black money out with this step? Answer for this can yes or no but what matters is how much is a normal suffering because of this everyone knows who is having black money definitely a person who has 9-6 job will not have black money so why is the normal man suffering? This step will bring black money out but people know how to hide it even after this there were many ways that people tried to use their black money. It would have been good that this step was executed in better way.

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Akash said:Thu, December 15, 2016, 11:03:18 am

Denationalization of 500 and 1000 rupee notes may bring the black money out but it has made life miserable for common people who are standing in lines in front of banks just to get their notes exchanged, we don't know how effective it will be bring the black money out but it definitely is having many negative effects on common people they are facing lot of problem to get their daily needs fulfilled because no one is now accepting 500 or 1000 rupees note so it is causing lot of problem to normal people.

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Jairam said:Thu, December 15, 2016, 11:02:51 am

As every coin has two sides so does this decision or step taken by the PM of India. One side it will help to bring the black money pout but as revealed by the news channel the black money is in Swiss bank so how come we sill be able to get that back by taking step in India? Though we can get some amount of money out from the rich people. On the other hand the common people is suffering a lot because of this decision as they are left with no option apart form waiting in queue and getting the money exchanged.

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azka said:Thu, December 15, 2016, 10:17:08 am

I totally disagree. The PM has made this decision even without thinking of the scheme that how the countrymen can suffer.. Yes ! why he will think he knows nothing can deplete his fortune as he is the PM of India. This demonetisation has made the lives of middle class, poor people miserable. This irksome and infuriate step can never help government to suck the black money from the economy. Handling of 2000 rupee note is easier than 1000 and 500 rupees for the corrupted person. The money that was collected back wasn't black money rather it was a white money of ordinary people who stood in line for the whole day leaving their meals, children and work. The toll of no. of people died while standing in queue in banks raise above 50. The politicians and rich people gets the advantage and were informed before the news spreaded. In recent news, one bjp politician’s daughter was shown playing and taking selfie with lakhs of 2000 notes. From where they came even before the final announcement made by our PM???


This demonetisation is of no use instead the corruption has increased thrice than before. This is widening even bigger gap between poor and richer. This is a condition of our country.. Illiterate person has a snaffle to run our country.. And results are in front us the politician and prosperous people are smashing the poor people in the name of black money drama.

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Ritesh said:Tue, November 22, 2016, 8:07:36 pm

It is easy to earn black money using various wrong sources now it is time to pay for that as demonetization of Rs 500 And Rs 1000 note has come like thunderbolt for the people who has stored lot of money in various places in their houses which is not known by the government.As India was trying to bring back the black money this step would definitely help us to bring the black money out of house at least. If not all but at least to some extent we will be able to deal this situation soon.

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