‘How to convert black money into white’, the trending search on google from Tuesday
Mumbai, November 11: After Prime Minister Narendra Modi jolted the nation with his biggest step against tax evasion and black money, There was only one way left for those Indians having bulk of banned notes with them. This in turn become searches on the google, the ways to convert black into white. As a result the topic became trending on the googl search engine. Many Indians sought the help of google to convert their useless paper into cash.
“How to convert black money into white” was trending on the google search engine, with similar questions soon after Narendra Modi has announced the ban on Rs 500 and Rs 1,000 notes. The decision has resulted in rendering 86% of currency in circulation, worthless. “Black money” is the colloquial term for hidden cash, to avoid tax.
“This one decision will change social culture, in the way people keep money and spend,” finance minister Arun Jaitley said during a press meet on Wednesday. “The honest person has the satisfaction to be honest and the not-so-honest shall worry”, he added.
Most of the searches on Google were from Prime Minister Narendra Modi’s home state, Gujarat. Google Trends show that this region is known for its entrepreneurial spirit, small traders and jewellers that form the power base of the ruling Bharatiya Janata Party.
Maharashtra, which includes Mumbai, the financial hub, came second followed by Haryana.
On this latest move from the Prime Minister Narendra Modi, the property sector is among those sectors which got the the hardest hit. The S&P BSE India Realty Index, comprising 11 property stocks, plunged as much as 16.5% on Wednesday, the biggest drop since 2009, before rising 4.6% as of 11:07 am on Thursday amid a broader market rebound.
Haryana tops the list with Gujarat close behind according to Google Trends query to “how to convert black money”. Other states asking the same question include Punjab, which is due to hold elections early next year, and the capital Delhi. Cash with unexplained authenticity often crops up at election time, to bribe voters.
Overall, Indians sought more information about the government’s planned new currency notes that include better security features. Questions on these were among the top five searched topics for Google from India. India has 277 million Internet users, the world’s largest after China, according to the 2016 Internet Trends report by Kleiner Perkins Caufield & Byers.