If you all remember the current Prime Minister Mr. #NarendraModi was very vocal during his 2014 election rallies on #BlackMoney!
The day this govt took office they set up the SIT as demanded by the SC which was ignored by the earlier Manmohan Singh Govt, indirectly helping the scamsters and black money hoarders.
Even though this govt has been taking some action on Black Money the opposition has been continuously attacking Modi on Rs.15 Lacs. This Rs.15 Lacs story was created by the opposition. No one promised people that govt will deposit the money in their accounts.
The government launched the Income Disclosure Scheme.
Today PM Modi has dropped a Nuclear Bomb on the Black Money hoarders in which many many politicians will also be Trapped. Expect lot of opposition parties comparing this move to Emergency! It would be just their way of Crying!
Today PM Modi suddenly appeared on TV to address the nation and no one ever thought he may take this Bold move!
Govt has Banned all Rs.500/- and Rs.1000/- denomination notes in circulation with effect from Midnight today!
Govt has also announced that all Banks will be closed on 9/11/2016 so that No Illegal Money is brought to the banks to get exchanged. The announcement just 3 hours before the Ban ensures that people holding black money gets NO Time even to think!
An exchange window has been announced from 10/11/2016 to 30/12/2016
It can be called Surgical Strike on all those dealing in Black.
I expect Property to come down, Gold demand to reduce, White Economy to Boom, Organised sector to benefit, Banks will see +ve impact since use of Credit Cards will increase. Online shopping will increase. Liquor companies will benefit.
Some exemptions have been given. Stay connected with me on the below link for continuous updates: