Did Modi really kill black money in India? : Economic case study

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Published 2024-07-07
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VIDEO INTRODUCTION:
Hi everybody,
When Modi ji became the prime minister of India, one of the most important agendas he had was to eradicate the black money in India!!!
But the question is, 10 years, 1 demonetisation, 2 modi terms and several GST reforms later, have we really succeeded in eradicating black money!!
Well these are some figures that I found which scared the hell out of me
According to ahmedabad customs, the amount of smuggled gold seized at the airport has seen a 65% rise in fy24 where in 241.1 Kg of gold as in 179 crores worth of gold was seized!! And this 5 year trend shows that the amount of smuggled gold from the Sardar patel airport is increasing at an alarming rate!!
Secondly, RBI says that there was a 102% increase in the number of fake 500 rs notes in the Indian economy!! So counterfeit currency is still a growing problem!!
And most importantly, I was shocked to know that there is even an black stock market system in India!! And this system is so big, that while the average daily trading amount in NSE is ₹1.02 lakh crores, in this black stock market, the average daily trading amount is estimated to be 0.7 lakh crores!! Which means, 0.7 lakh crores worth of black transactions are happening every single day just like the national stock exchange!!
So the question is, have we really succeeded in eradicating the black economy!! And you know what?? You would be shocked to know that, the root cause of everything from smuggling, to black market to even the underworld and crime, everything is linked to just 1 variable, that is taxes!!!!
So with the budget announcement coming,
The question is,
How are taxes directly used as an instrument of wealth by the underworld and smugglers of India?
How does the black market and black stock market get created because of the tax system?
If we have zero tax in India? What could happen to our economy?
And most importantly, since black money is a virus to our economy, what is the most practical way to eradicate it???



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✅Study Materials:

Situation in India today:
1) www.moneycontrol.com/news/business/markets/regulat…

2) m.economictimes.com/news/economy/foreign-trade/ind…

Reaganomics:

3) www.reaganfoundation.org/ronald-reagan/the-preside…

4) papers.ssrn.com/sol3/papers.cfm?abstract_id=333862…


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#thinkschool #businesscasestudy #geopolitics #stockmarket #budget #tax #india #business

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All Comments (21)
  • The biggest irony is brokerage and taxes are charged on both buyer and seller simultaneously for one transaction.
  • tax should be like "salt in the food" not "food in the salt". Govt need to wake up before its too late.
  • @Abcdmd1994
    Tax on cement is 28% it's like suicide of middle class
  • @Divyanshu_C
    This is not just taxes. This is Tax Terrorism
  • I pay tax at 30% for my salary and then another 30% on the profit I make out of the already taxed investments. And then I feel so tired and just want to go to a restaurant to eat something. I put petrol and voila! - I am bombarded with fuel tax. Now I am hardly moving. Finally I manage to make it to a small restaurant and there you are, 4th round of milking tax from me in the form of GST. I die of shock and desperation before even the little food I ate reaches my stomach 😞 My everyday life continues without any significant changes around me, except for the noticeable fact that my wallet is getting emptier by the day and fully exhausted much before next salary hit my account. At least I am thankful to my wife for not charging me any direct taxes for delivering our children. I love her.
  • @matteohenry33
    Honestly, this concerns me and has left me uneasy. Especially this potential depression, no more a recession. I'm unsure about my $130K account strategy, considering the uncertainty of this whole recession mostly.
  • @NerdyX90
    Fun fact: Income tax was supposes to be temporary... taxation is theft.
  • @Jaymilnere
    Recently came across your channel and I love it., Please, I would like to know if we're restricted to only Indian stock or if we can also buy US or other foreign stocks. I am new to this and everything is still confusing
  • This government is definitely killing middle class dreams ..with taxes
  • @krishmav
    India's tax rates are horrible given the standard of living here. The government is just a legal gunda at this point
  • @ElvisSirinBo
    Every week I buy more of whatever is the lowest percentage of my portfolio and try to keep everything around 10%, but what could be my safest buys with $400k to outperform the market in 2024?
  • @coldram1111
    Chanakya in Arthashastra said that Honey Bee collects nectar from flower without damaging it but in-return pollinates it. Govt should collect tax like Honey Bee.
  • @MdAlamin-3rd
    Tax is not the problem. Main problem is benefits we are not getting.
  • Gst raised from 8 % to 18 % in 5 years. Common poor and middle class civilians are affected 😢
  • @SteveDutton-v
    It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.
  • @soumasingh1534
    Tax on bikes is 28% and on buying helicopters is 5%. You now know where our country is heading!!
  • @sruv89
    Goi increased the security transaction tax😂