10 People most affected by Modi’s Anti-Black Money campaign

    The country as a whole has been affected by the anti-black money campaign. As common citizens, we all had to face cash troubles and wait in long queues for ATMs, despite that, the move was supported largely. The targeted section of corrupt now face nightmares. A list of 10 most affected stakeholders is presented below.

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    2Hawala Dealers

    The shadow economy created due to hawala dealings overburdens the honest, hardworking taxpayers who constitute mere one percent of the total population. Hawala trading is one of the major sources of black money. In hawala, the money is transferred from source to destination without actually moving it. It is a parallel illegal network where the money is given to an agent at the source and is collected from a network agent at the destination in exchange of a commission and government loses tax on such illegal transfers.

    In most of the cases this is black money and thus to evade tax authorities this parallel route is used to transfer money. Audits reports and IT raids have proved that a large part of Indian economy is black and that the dishonest politicians, industrialists, bureaucrats have stashed huge amounts of illegal wealth in foreign banks in tax heaven countries.

    Hawala trade has also received a punch as a result of demonetization. With demonetization rendering old currency notes invalid, the entire network is broken. Hawala traders are no longer accepting cash and transferring it to a destination because the currency is not a legal tender. Such money if deposited into banks would attract heavy penalties leaving that also as not a very good option.

    This random action will result in great losses to such transactions which were outside the tax net and they may not be able to recover from it for long.

     

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    B.Tech NIT Surat, 2012 batch Assistant Manager, RINL,, VizagSteel Working as freelance Content writer for academic, political and social Issues for last 2 years

    707 COMMENTS

    1. No no Vishwasji! This is Vishwaas-Ghaath! I totally disagree with you. He is the Raakshas along with Amit Shah his twin-Raakshas both together statshed almost FIFTEEN LAKH KAROD RUPAYE all over globe in his (Modi’s) endless globe-trotting!

    2. Why many of you are against the Muslims and Christians. You talk about defamation if we speak the truth. What kind of democracy Indian can you call yourself when you speak against other religions. This shows the true hate against us. Yet you guys wants foreign funds for other things that this country needs. Why can you guys stop criticizing other religions and live in peace. I defy anybody to put a case on me if I’m saying lies. What if the Muslim countries stop giving us oil. What if Christian countries stop giving us technology and weapons. What if we are also banned with sanctions for religious violence. If you people want to talk about Congress or BJP don’t involve religion. Remember no country can destroy another religion. for a country to grow and develop we need to be united and then growth will follow. BTW ….The congress kept all religions together whrn times were hard or else our country would have been destroyed 70 yrs ago after Mahatma Gandhiji was killed by the Hindu Fundamentalist. Those were the days when it was very hard to make people think sensible. People who hate any party must be the same psychopaths ,who were taught to instigate violence. Don’t make or create another civil war.

    3. Economic measures taken by Modo have some definite long term interests ;it canot work like a balm for headache.
      Allow some time and see the magic.

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