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Prime Minister Narendra Modi gave an unexpected shock to the opposition parties with the decision of withdrawing big notes. Elections will be held in as many as nine states this year. The opposition parties are working hard to defeat the Bharatiya Janata Party. Amid this, Narendra Modi gave them a big blow. It is known that black money would be involved in politics and elections. The election expenses and the money that has to be distributed to voters will be spent from the money. BJP can change the money as it is in power.
If black money has to be collected, it will be big notes most of the time. The leaders and parties deck up 2000 notes. Thousands of crores will be spent on elections. As per the directives of the Election Commission, the candidate should spend Rs 75 lakhs for an OC Parliament constituency. But over 120 crores will be spent in reality. While the limit given by EC is white money, the rest of the money is black money and everyone knows this.
The political parties store money for these sorts of elections and the money would be thousands of crores. Sometimes, the money will be sent to the destinated places. Now the decision of withdrawing Rs 2000 notes was taken and the massive pile of money collected by the political parties and leaders became unusable almost. It will be a hectic task to change the thousands of crores in 2000 denominations. The notes can be changed only in banks and there is no alternative.
What we should remember here is that there will be a few agencies that can change the money by charging a certain amount. We have seen this when the demonetization was announced. However, the agencies won't pay the total amount as banks do. Those who want to get rid of the piles of 2000 notes they have with them will approach the agencies. However, they would lose thousands of crores with this. The black money would be in circulation in Real Estate and Film Industry usually. Amid the withdrawal decision, we have to wait and see what happens next.