This is a sequel to my blog post http://obvioustruths.blogspot.in/2016/11/will-ban-on-high-denomination-currency.html
Here is an update on how bank deposits are swelling after the ban on Rs. 500 and 1000 notes. The question is whether a high proportion of the banned notes would be deposited or exchanged. What is not deposited or exchanged will become trash, yielding a bonanza to the Government. You can see from the graph, however, that there is an almost steady increase in deposits/exchanges. A good proportion what can be expected to come in has already done that.
What is the Govt. going to do about the millions of people who have deposited other peoples' money into their accounts to white wash the moola? Deal with millions of court cases?
I have a suggestion. Allow 50,000 staff members of loss making public sector companies to transfer to the Income Tax Dept! There is work to do there!
Here is the updated listing of sources of this
information:
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