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Economy Fiscally fit?

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Old September 4th, 2018, 08:21 AM
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sarv_shaktimaan sarv_shaktimaan is offline
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Re: Demonetisation flopped big time ; 99 percent of demonetised currency back in banks

I don't know if people have lost their memory or they intentionally want to ignore facts. This is my own write-up, not copy pasted from anywhere. Correct me if you find it wrong.

MOST IMPORTANT FACT -

Money deposited during demonetization was locked up and in some cases, it's still being reviewed for matching with income records. Now, say my income is 10L per annum and I deposited 40L, that money is locked up and won't be released until I explain the source of it. For this Govt gave offer of paying tax and penalty and making this money white, which many took. So offenders were caught.

SECOND IMPORTANT FACT (ADDENDUM TO MOST IMPORTANT FACT) -

No cash transaction above 1L or 2L (i forget exact amount) is allowed for a particular sale. So if I'm buying a property worth 10L, I can pay only 1 or 2L in cash, I can't do 20 transactions of 50K each.

If what I said is true, now you know why Uddhav T hates Modi even more than Raj T.
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