The day, November 8 2016, will be marked as an important day in the history of Indian politics and economy due to the unanticipated decision of demonetisation. The strategy of banning Rs 500 and Rs 1000 paper notes, without any prior notice, has already received serious attention in the academic community. Such analysis will continue for quite some time and a substantial effort will be made towards quantitative measures in this direction. In all probability, the public perception will be guided by politicians and by the media houses. There are already thousands of reports in print media, added to hours of televised discussion. However, the issues, raised through logical reasoning and also supported by mathematical justification, would have greater implication towards policymaking and the overall growth of our country.
However, the issues, raised through logical reasoning and also supported by mathematical justification, would have greater implication towards policymaking and the overall growth of our country.
This piece is motivated from such a scientific viewpoint. Most of the figures in our analysis will be used for representative purposes due to unavailability of exact data. However, you may always plug in your own estimates to follow similar mathematical calculations. Sincerely speaking, we cannot do anything more than to appeal our central government to publish clean data so that the claims from various sources can be judiciously examined.
Let us first discuss how this move will affect black money. Consider that in our country we have a total of Rs. 10 in cash with high denomination notes (the actual amount is believed to be 14 lakh crores) and out of that 80% is white. Thus, the ratio of white and black money is 8 to 2, that is, 4 to 1. Now due to this move, say 1 out of Rs. 2 of black money is somehow returned to the banks and the rest is in peace. Given that, the new ratio of white and black would be 8 to 1. Naturally white money will win by a bigger margin after this demonetisation. Now we should study how important is Rs. 10 (which is the money floating in cash) compared to the total wealth of our country. If the total wealth in our country (it includes a few tonnes of gold or a number of apartments at Mumbai and the flow of this wealth might be informally related to GDP) is Rs. 100, then it is clear that the cash is only 10% of that. If the rest 90% of wealth in our country (this corresponds to Rs. 90, but not in cash) is not properly audited, then the surgical strike on high denomination currency might not have serious implication towards eliminating black money. For example, consider that Rs. 30 out of this Rs. 90 amount of wealth is black. This, by itself, is thrice that of the total cash owing in the Indian market. Add to this the amount of black money, which is placed outside the country (this might be twice that of total cash in India, that is Rs. 20, say). Then the whole effort will have very little effect on eradicating a good proportion of black money. From a different viewpoint, the effect might still be significant when we assume that the hard cash is a significant part of our economy. It is believed that globally the cash in circulation to GDP ratio is in the range of 3% to 8%. However, it is much higher in India, which is around 13%. Thus, compared to world standard, India is a cash rich country and thus, it might be natural for the government to get a stock of this cash with the expectation that a good amount of black money will not return to the banks, increasing the hypothetical white to black ratio.
It is believed that globally the cash in circulation to GDP ratio is in the range of 3% to 8%. However, it is much higher in India, which is around 13%. Thus, compared to world standard, India is a cash rich country and thus, it might be natural for the government to get a stock of this cash with the expectation that a good amount of black money will not return to the banks, increasing the hypothetical white to black ratio.
Based on the huge infrastructural problems after the demonetisation drive, a strong argument is being placed in favour of electronic cash. This is indeed correct that in case of such computer based wealth, we generally have higher level of traceability related to the transactions. Unfortunately all the stakeholders of e-cash might not be as sincere and honest as our present central government! There is no dearth of intelligent hackers in software domain. They can successfully provide ways to manage certain level of intractability in e-transactions. For example, consider bitcoin. This is a crypto-currency as well as a payment system invented by an unidentified group of programmers. While many countries in the world accept this, such currency is not legal in many other countries including India. There are evidences that criminals in large part of the world cleverly use bitcoins to their advantage. While a detailed explanation of bitcoin will be of independent interest, we like to point out that electronic transactions never imply that black money cannot be percolated. The myth of white money, through the movements of electron, may be sweetly sold in the present circumstance. However, the basic premise of traceability in e-cash is flawed. Further, continuous cyber-threats on debit and credit card users in our country underline the vulnerability of such high-end systems. A nasty cyber attack on our banking system might have worse effect on infrastructure than the present scenario of taking back the existing high valued currency.
There is no dearth of intelligent hackers in software domain. They can successfully provide ways to manage certain level of intractability in e-transactions…However, the basic premise of traceability in e-cash is flawed. Further, continuous cyber-threats on debit and credit card users in our country underline the vulnerability of such high-end systems.
At the same time it seems that the government failed to understand the impact of demonetisation on rural people. Consider that around 40% of Indian adults do not use the banking facility regularly and mostly depend on cash. This could easily be more than 10 crore people. Let us assume that out of fifteen lakh crore rupees of high denomination notes, only fifty thousand crores (one in thirty) are lying with these people. Divide fifty thousand crore by ten crores and you will get Rs 5000 each for one person on an average. Each such person has to deposit the old currency in the bank. If each one of them has to spend an hour in such a transaction, the country wastes ten crore hours which is simply more that ten thousand man-years. Add to this the man-years spent by the bank employees, and the wasted hours due to the huge chaos around the country. Here the decision makers cannot sell the argument of counterfeit currencies to their defence. This is because the proportion of such currency is believed to be very little; may be a proportion of one in a lakh, that is at most a few thousand crores. Further, it is now believed that the new bank notes of denomination five hundred and two thousand are coming with similar security features. Thus, the present step is only a one-time solution that won’t have much long-term effect. It is a matter of time that fake notes may emerge again. Thus, the terrorism angle cannot be placed as an argument for wasting papers corresponding to fifteen lakh crore rupees of high denomination. Analysts will also highlight the additional few thousand crores for printing the new notes. Again, the complementary viewpoint could be as follows. Terrorism, based on fake and black currency, will be hugely hurt for the time being. Even if it is for a short period, with proper monitoring in the coming days the `terror financing’ might be resisted in an improved manner. Terrorism is an instrument exploited by the weaker party against a stronger opponent and `Terror financing’ using black money or counterfeit currency is one of the many aspects in this domain. Modelling this whole issue in a unified manner will be of serious academic interest.
However, the basic premise of traceability in e-cash is flawed. Further, continuous cyber-threats on debit and credit card users in our country underline the vulnerability of such high-end systems…Analysts will also highlight the additional few thousand crores for printing the new notes.
Thus, this is the time to calculate how much we are spending and how much we are gaining. The equations are not very simple and it is left to the government to provide the data. While we have so far mostly criticised the government moves, there are a few positive points too. The most welcoming issue is that the government could maintain certain level of confidentiality before the announcement on November 8. This is indeed a commendable effort. Further the issuance of Rs. 2000 note is another masterstroke. It must be true that such notes were getting printed at a large amount for last few days which is much more than the steady average of Rs. 500 or Rs. 1000 notes. If those had been the currency of existing denominations, that is 500 and 1000, then eye-brows might have been raised that why new notes of such denominations are being printed by such a large amount. However, the printing of 2000 rupee notes did not attract much attention as it might have been thought that government will release currency of higher denomination in the days of inflation. This is the reason that we are getting the notes of denomination 2000 initially in a larger proportion. The new 500 rupee notes are slowly arriving and then the 1000 rupee notes will also come.
We cannot deny that Narendra Modi led BJP government has taken a bold decision. Bold might not be beautiful. The country has to suffer for this move. This is nothing but an economic emergency in practice, though that might not be written explicitly in our constitution. How prepared we are will only be understood after a few days. A large portion of Indian middle class will be unhappy thinking that while we do not hoard black money, why should we suffer the effects of such an unprecedented move. A good proportion of rich businessman may be severely affected, irrespective of whether they were involved in corruption or not. The hardship of poor people will increase further. On the other hand government is showing dynamism as it is slowly increasing the limits of withdrawals from ATMs and banks, at the same time decreasing the amount of exchanging old currencies. Things will be tough for a few days and then hopefully it will slowly turn to normalcy. Public memory is weak, and thus people will indeed forget the pain of this reform. The main question is whether this is an honest plan towards reform or just a populist measure at the cost of the state exchequer. There are several unanswered questions, and the answers are blowing in the wind. It would be better the government be prepared with their answers in a logical manner before the wind turns into a storm.
We cannot deny that Narendra Modi led BJP government has taken a bold decision. Bold might not be beautiful.
Picture via http://mashable.com
spinph9
Alright, trying my hand at SpinPH9. Hoping this is where my luck turns around! Site seems legit, wish me luck! :D spinph9
wie bekommt man cashback bei bwin
Auch werden im Casino Bellagio von Zeit zu Zeit größere Turniere abgehalten, wie zum Beispiel die World Poker Tour
oder auch die World Series of Poker. In den meisten Casinos werdet ihr, sofern ihr aktiv spielt, mit kostenlosen Drinks versorgt.
Die englischsprachige Reiseführung erläutert alles, was ihr wissen müsst,
was sich euch in hellem Neonlicht darbietet. Es wurde im November 2016 eröffnet, schloss das Casino im Januar 2018 und
meldete im Februar 2018 Konkurs an. Die Wahrheit ist, dass viele
Casinos Probleme haben und einige sogar in Konkurs gehen, weil die Einnahmen zwar hoch sind,
die Ausgaben aber oft noch höher (Gehälter der Angestellten,
Versorgungsleistungen und die Miet- oder Darlehenszahlungen für das Gebäude
und die Einrichtung). Das Pink Flamingo wird eröffnet, erbaut vom berüchtigten Mafioso Bugsy Siegel.
Wenn Sie spätabends einen Blick in diesen Raum werfen, können Sie vielleicht Profis sehen,
die um Millionen spielen. Englische Gärten sind oft sehr groß und bieten viele
verschiedene Bereiche, wie zum Beispiel Wiesen, Teiche und Waldstücke.
Sie sind oft in Zusammenarbeit mit wissenschaftlichen Institutionen entstanden und bieten eine Vielzahl von Pflanzenarten aus verschiedenen Teilen der Welt.
Die Fountains of Bellagio tanzen und spielen Wasser auf eine musikalische Untermalung Entdecke die besten Clubs, Bars & Shows & profitiere von Insider Tipps.
References:
https://online-spielhallen.de/verde-casino-deutschland-ein-umfassender-uberblick-fur-spieler/
Revolution Casino Bonus ohne Einzahlung
In Online Casinos haben Sie die Möglichkeit, Automatenspiele kostenlos
auszuprobieren. Nein, kostenlose Casino Spiele ohne Echtgeld Einsatz zahlen nur Spielgeld Gewinne
aus. Novomatic bringt das Herz Thema mit
Freispielen und Amor Extra Wilds zurück. Aristocrat verbindet Geisha Symbolik mit Freispielen und Multiplikatoren bis 5x.
Ideal, wenn du ohne viel Schnickschnack spielen willst.
Komm und werde Teil einer der größten Social-Casino-Communities im Internet, mit
hochwertigen Slots und Casino-Spielen – und das alles völlig kostenlos!
Wenn Du im Gratis Online-Casino spielst, kannst
Du Dich beruhigt zurücklehnen und wahrscheinlich mehr tolle Spiele genießen, als im nächsten Casino in der Nähe.
Die erste Glücksspielmaschine dieser Art kam schon 1898 auf den Markt und
hatte auch den typischen Seitenarm zum Spielen. Casino Spiele mit Echtgeld-Gewinnen und regelmäßig auch Online-Slots
machen es möglich Sie sind heute eine der beliebtesten Formen des Glücksspiels und haben in der Regel
drei oder mehr Walzen, auf denen Symbole erscheinen.
Craps und andere Würfelspiele basieren auf
dem Ergebnis eines einzelnen Wurfs oder einer Reihe von Würfen. Das kostenlose Spielen zum Spaß eliminiert
jedoch die Gefahr, dass sich Ihr Spielbudget rasch seinem Ende zuneigt.
Hier werden Sie vor allem auf virtuelle Slotspiele stoßen, denn diese sind die bei Weitem beliebteste Spielart unter den Spielerinnen und Spielern. Damit Sie den Überblick
behalten und neue Favoriten finden können, helfen wir Ihnen alle Spiele wie im Online Casino kostenlos und
ohne Anmeldung auszuprobieren. Dort werden Sie alles finden, was Sie benötigen und auf was Sie achten müssen, um das
bestmögliche Spielerlebnis zu erfahren.
References:
https://online-spielhallen.de/rant-casino-promo-code-der-schlussel-zu-ihren-boni/
Malina Casino Australia banking options
SkyCrown Casino Australia provides a complete online gaming experience,
offering players the best in casino games, sports betting,
secure payment methods, and exciting bonuses. Skycrown Casino is a much-needed refreshment in the online gaming industry, offering
thousands of real money online casino pokies, live games,
and other types for Aussie players. Slot games, table games, live dealer experience–at Skycrown online casino players
will find an array of first-rate gaming choices. Deposits are instant,
while withdrawals via crypto are processed instantly, and bank
transfers take up to 3 days.SkyCrown Casino App and Mobile GamingFor players who
prefer gaming on the go, SkyCrown App offers a fantastic
mobile experience.
It’s clearly not an official casino page, just a mirror pretending
to be the real thing. The link alone makes it obvious
this isn’t the real casino. I contacted support three
times and only got vagu… Support doesn’t respond, withdrawals are fake, a…
It pretends to be a legitimate casino, but the moment
you try to play or register, it forwards you to another site that’s clearly untrustworthy.
References:
https://blackcoin.co/skycrown-online-casino-au-pokies-payid-neosurf-fast-payouts/
top slot games
There’s a lot to take in when playing at an online casino in Australia for
real money. You’ll also want to double-check the bonus terms as many AU
online casinos won’t apply promos if you deposit this way.
If you’re playing at an online casino in Australia for real money,
a reload can give your balance a bit of extra kick. See our list below to find the best Australian online casino real money sites.
Australian dollars are the most common currency at online casinos for Australian players.
Every site you see on these pages can be played
securely and with confidence by Aussie players. This makes it easier for Australian players in terms of
not being hit by exchange rate fees and commissions when converting funds to and from a different currency.
All the sites we recommend boast an impressive portfolio of pokies
on site.
Spinsy Casino offers plenty of the top slot games, including live casino and jackpot offerings.
Cashed Casino earns top marks for its premium gaming experience, a
wide range of slots, table games, and live dealer options.
You can choose from a variety of payment methods and deposit as little as $10 to activate massive bonuses that include free spins
with some casino sites. For example, California casino sites are licensed overseas and legally provide gambling services to
players in that state.
best gaming platforms 2026
The platform keeps players updated on odds changes
and upcoming events, giving you the information needed to
place smarter wagers and increase your chances of success.
Rocket Casino also runs seasonal promotions and
tournaments that give players the chance to compete for big
prizes. Whether you’re a fan of classic fruit machines or more advanced games with intricate storylines and interactive bonus features, Rocket Casino has something for you.
The platform offers multiple support channels, including live chat, email, and phone support, ensuring that
you can get the help you need whenever you need it. The platform’s user-friendly interface makes navigation between games and bets
effortless, allowing you to jump from one experience to the
next without any disruptions.
The platform offers incredible bonuses, including the Rocket Casino sign-up bonus,
free spins, no deposit bonuses, and exclusive promotions.
With its robust security measures, diverse payment methods,
and dedicated customer support, Rocket Casino ensures a safe and enjoyable environment for every player.
With a focus on real money gaming, fast withdrawals, and a wide
variety of betting options, Rocket Casino stands
as a reliable and exciting platform for online entertainment.
In addition to its impressive casino offerings, Rocket Casino Australia also provides a comprehensive sports betting
section for players who enjoy placing wagers on their favorite sports.
References:
https://blackcoin.co/betman-casino-a-comprehensive-review-for-australian-gamblers/
winning strategies casino
Access to account history delivers transparent records of gambling activity,
deposits, and withdrawals for personal review. The mobile platform maintains full functionality compared to desktop access, including account management, game selection, payment processing, and promotional participation. The casino implements minimum and
maximum withdrawal limits with potential adjustments for
VIP-tier players. The casino website maintains a promotions section detailing active offers with relevant terms and redemption instructions.
Seasonal and event-based promotions appear regularly, often coinciding with major sporting
events, holidays, or new game releases.
Players highlight the wide range of slots and live games,
along with quick withdrawals and generous promotions.
If you enjoy the social interaction of a real casino, the
live section is one of the strong reasons players
return to winspirit or ws casino daily. Completing verification rapidly avoids delays with winspirit casino login and
speeds up withdrawal processing. The casino of
the future, new slots games, upcoming tournaments and
so much more.
References:
https://blackcoin.co/spanish-21-rules/
www.ophot.net
gamble online with paypal
References:
http://www.ophot.net
mioe.top
paypal casino sites
References:
https://mioe.top/niklaskerferd
fdertol mrtokev
This web page can be a walk-by means of for all of the information you wanted about this and didn’t know who to ask. Glimpse right here, and also you’ll undoubtedly uncover it.
catbrowser apk
Some really wonderful blog posts on this site, thanks for contribution. “A religious awakening which does not awaken the sleeper to love has roused him in vain.” by Jessamyn West.
slot depo 5k
I appreciate, cause I found just what I was looking for. You have ended my four day long hunt! God Bless you man. Have a great day. Bye
deposit 5000
It¦s actually a great and helpful piece of info. I am glad that you just shared this helpful info with us. Please keep us up to date like this. Thanks for sharing.
gelatin trick
My brother suggested I would possibly like this web site. He was entirely right. This publish truly made my day. You can not imagine just how a lot time I had spent for this info! Thanks!
mantap555 slot
Hello! I could have sworn I’ve been to this blog before but after browsing through some of the post I realized it’s new to me. Anyways, I’m definitely happy I found it and I’ll be book-marking and checking back frequently!
olxtoto
You can definitely see your skills in the work you write. The world hopes for even more passionate writers such as you who are not afraid to say how they believe. All the time follow your heart. “If you feel yourself falling, let go and glide.” by Steffen Francisco.
gelatin trick
Hello There. I found your blog using msn. This is an extremely well written article. I’ll make sure to bookmark it and return to read more of your useful information. Thanks for the post. I’ll definitely return.
gelatin trick
I have been absent for some time, but now I remember why I used to love this website. Thanks , I’ll try and check back more frequently. How frequently you update your web site?
pin-up обзор
I’ve recently started a site, the info you offer on this site has helped me greatly. Thanks for all of your time & work.
slot gacor maxwin
I discovered your blog site on google and check a few of your early posts. Continue to keep up the very good operate. I just additional up your RSS feed to my MSN News Reader. Seeking forward to reading more from you later on!…
iblbet daftar
The next time I read a blog, I hope that it doesnt disappoint me as much as this one. I mean, I know it was my choice to read, but I actually thought youd have something interesting to say. All I hear is a bunch of whining about something that you could fix if you werent too busy looking for attention.
bariatric gelatin trick
I like this blog so much, saved to bookmarks.
lavanderia goiania
Hey There. I found your weblog the usage of msn. This is an extremely smartly written article. I will be sure to bookmark it and return to learn more of your helpful info. Thank you for the post. I’ll definitely return.
gelatin trick
Thanks for all your efforts that you have put in this. very interesting info .
gelatin trick
Precisely what I was searching for, thankyou for putting up.
aufstellpools bestellen
Regards for helping out, great information.
betspin138 login
Hello just wanted to give you a quick heads up. The text in your article seem to be running off the screen in Chrome. I’m not sure if this is a format issue or something to do with web browser compatibility but I figured I’d post to let you know. The layout look great though! Hope you get the problem resolved soon. Many thanks
canon telefono
You can certainly see your expertise in the work you write. The world hopes for more passionate writers like you who aren’t afraid to say how they believe. Always follow your heart.
schwimmbecken online bestellen
Wow, incredible weblog format! How lengthy have you been running a blog for? you make blogging glance easy. The overall look of your web site is magnificent, let alone the content!
togel 4d
That is very attention-grabbing, You’re a very professional blogger. I have joined your feed and sit up for in search of more of your great post. Additionally, I have shared your site in my social networks!
ayuda TFG arquitectura
I truly wanted to write a quick comment in order to say thanks to you for those stunning ideas you are giving out on this site. My time-consuming internet investigation has now been compensated with pleasant knowledge to exchange with my good friends. I would mention that we site visitors actually are unequivocally lucky to dwell in a wonderful community with very many outstanding professionals with very beneficial plans. I feel very much grateful to have encountered your website page and look forward to many more enjoyable minutes reading here. Thanks a lot again for everything.
boostaro
Heya i’m for the first time here. I found this board and I find It really useful & it helped me out a lot. I hope to give something back and aid others like you aided me.
camara de television
Woh I like your content, saved to my bookmarks! .
audio systems austin
Only wanna remark that you have a very decent web site, I like the pattern it actually stands out.
oma slot
Hi there! Someone in my Myspace group shared this site with us so I came to check it out. I’m definitely enjoying the information. I’m book-marking and will be tweeting this to my followers! Wonderful blog and amazing design.
gelatin trick recipe
Nice read, I just passed this onto a friend who was doing some research on that. And he just bought me lunch because I found it for him smile Therefore let me rephrase that: Thanks for lunch! “A thing is not necessarily true because a man dies for it.” by Oscar Fingall O’Flahertie Wills Wilde.
tonic greens
Very interesting information!Perfect just what I was searching for!
THC Syrups
I like this site very much, Its a very nice office to read and receive info . “A little in one’s own pocket is better than much in another man’s purse.” by Miguel de Cervantes.
tonic greens
I delight in, result in I discovered exactly what I used to be having a look for. You have ended my four day long hunt! God Bless you man. Have a great day. Bye
login susterslot
Undeniably believe that which you stated. Your favorite justification appeared to be on the internet the simplest thing to be aware of. I say to you, I definitely get annoyed while people think about worries that they just do not know about. You managed to hit the nail upon the top as well as defined out the whole thing without having side effect , people could take a signal. Will probably be back to get more. Thanks
Delta 9 THC Chewables
Have you ever thought about including a little bit more than just your articles? I mean, what you say is important and everything. But just imagine if you added some great images or video clips to give your posts more, “pop”! Your content is excellent but with images and videos, this blog could definitely be one of the greatest in its field. Wonderful blog!
diamond painting dikke dames wc rood
I used to be suggested this web site by means of my cousin. I am now not sure whether this put up is written through him as nobody else understand such designated approximately my difficulty. You are incredible! Thank you!
fren 88
I like what you guys are up too. Such smart work and reporting! Carry on the superb works guys I’ve incorporated you guys to my blogroll. I think it will improve the value of my site :).
topup game
I like this weblog very much, Its a real nice place to read and get information.
iblbet
Wonderful website. Lots of helpful info here. I am sending it to several pals ans additionally sharing in delicious. And obviously, thank you on your sweat!
streamate kattyarogers
I don’t ordinarily comment but I gotta tell thanks for the post on this special one :D.
game online paling populer
Nice post. I be taught something tougher on completely different blogs everyday. It’ll all the time be stimulating to learn content material from different writers and apply a bit something from their store. I’d want to make use of some with the content on my weblog whether or not you don’t mind. Natually I’ll give you a hyperlink in your web blog. Thanks for sharing.
slot demo 1000
I was just searching for this info for a while. After 6 hours of continuous Googleing, finally I got it in your web site. I wonder what is the lack of Google strategy that don’t rank this kind of informative web sites in top of the list. Usually the top sites are full of garbage.
7ywin
I enjoy the efforts you have put in this, thanks for all the great articles.
akongcuan
You really make it seem so easy along with your presentation however I to find this topic to be really something that I feel I’d never understand. It kind of feels too complex and extremely extensive for me. I am taking a look ahead for your subsequent publish, I will attempt to get the hold of it!
eva bloom soulmate sketch
I was looking at some of your articles on this site and I believe this web site is very instructive! Continue putting up.
car rental malaysia
you have got a great blog right here! would you wish to make some invite posts on my blog?