Modi has played a master stroke in clearing Black Money from the nation. Last night, in a live announcement to the public, Modi announced that the 500 and 1000 rs denomination notes will be defunct form midnight. The country was shaken, people went into a frenzy on twitter, those who had millions stashed away in hard cash almost suffered a heart attack.
These will now be “just worthless piece of paper”and the new currency notes of Rs 2000 and Rs 500 will be introduced.
Majority of the people support the decision by the Prime Minister, even some rival party members (with the exception of Kejriwal and Mamta Bannerjee). Modi’s decision is to clean the country not only from the outside i.e. ”Swachh Bharat Abhiyan” but also inside out.
We worked out how most people will be affected by this decision, take a look:
1. Politicians & Bureaucrats
The massive hit on corrupt, morally and otherwise, politicians and bureaucrats will definitely give them sleepless night or worse, heart attacks. In the upcoming UP and Punjab elections, the political parties will be at their wits ends in trying to figure out how they will buy votes now. More empty promises maybe?
2. Fake Currency Dealers
Largely its the fake 500 and 1000 Rs notes that were circulated in the country, this move will have devastating repercussions for the fake currency dealers.
3. Terrorist Organizations
Terrorism needs massive funding for purchasing weapons, recruiting and looking after personnel and logistics and the money used in terrorist activities is solely black money.
4. Fake Trusts and Charity
There are are millions of fake charity whose main purpose is swindling money and converting black money into white in order to avoid paying taxes.
5. Sports Betting
Considering the US election declaration is today, the satta bazaar will lose out on the opportunity to cash on this oppportunity. In India, the betting industry is huge and largely concerns sports event. This will come to an end.
6. Black Money Agricultural Land Owners
The major chunk of the real-estate transactions involve black money. This decision will definitely crash the market and disrupt the way these transactions are done. Some people even believe that PM Modi is out to destroy the real-estate market in India.
7. Large Education Institute
The large, and small, educational institutes who suck the hear-earned money of helpless parents, in the name of donations, will have a tough time. So will the parents if they pull out big amounts of money from their bank accounts and can’t explain the expenditure. The IT department will come knocking on their doors.
Thank you. All of us have to work shoulder to shoulder and create a prosperous, inclusive and corruption free India. https://t.co/3rurQwFYja
— Narendra Modi (@narendramodi) November 9, 2016