Vishnu Vardhan Reddy B answered this
i feel demonetization is good for our nation. and it was needed from the independence but it is sad that it has regreted upon by all of the leaders. but it is never late
--Ayush
--Ayush
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Srishti Shree answered this
i m not satisfied from your answer.can u explain more
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Sanjay answered this
Demonetization has both pros and cons
PROS-
PROS-
- Massive decline in black money:- This decision is pain in the ass for black money holders having trucks of money undeclared and enjoying withot paying any tax.
- Almost End of Fake currency racket intially :- If implemented correctly and effectively then it will result in end of fake currency racket as most of the fake notes are of Rs500 and Rs1000 but later criminals will make fake Rs2000 note.
- Obstacle for terrorism:- As said by PM Modi "From across the border, our enemies running racket in India through fake currency”, We all know he was refering to Pak and China so this decision will put obstacle in their path.
- Reduce in corruption for few months:- Shameless corrupt tratiors will find other methods but it will take some time.Like in other countries bitcoins,online loopholes are used for corruption money but it will take sometime.
- Fair Election:- we all know how much black money is used by political parties atleast for upcoming 5 state election it will be very tough task to use trucks of money in election like EC caught in Tamilnadu.
- Inconvenience to people:- burden in exchanging notes to common people.
- Loss to comman People :- Many people have fake currency that it unintentional or earned by hard work and they are using it wihout knowing it.Now banks will refuse to take fake money it direct loss for innocent people.
- Initial rise in corruption:- imagine this, you have Rs. 1 lacs you go to exchange, cashier said “sab nakli hai be! line se hat baki bhi khade hai”,then you are screwed, whther it is fake or not.
- Loss of Tax Payers Money :- Rs 500 prnting costs Rs 2.5 and Rs.1000 costs Rs 3 , (approx ).Multiply it by number of notes present in India ;now government has to pay this money from taxpayers. (Rs.100 Notes = 23% and Rs.500 notes = 44%and Rs.1000 notes = 24% Notes of 100,500 and1000 Rs. account for 93% of the Total Currency Money.)
- In this interview Manoj Tibrewal Aakash interviewed IAS Topper of 2014 Batch Gaurav Agrawal (Full Interview)IAS Topper Gaurav Agarwal said that “it will reduce corruption but it’s impractical becuase it will increase transaction cost etc etc” Let’s make it practical.
- Powerfull Poltician are converting black into white easily:-In many areas they are distributing/giving lon of amount few lacs to each farmer/labour and later they will take their money back as poor man can’t fight to those powerfull peoples.
- Issuing the new Rs. 2000 notes & bringing Rs 1000 back:- this will later cause increase in corruption as it will be easy to store Rs 2000 notes ;as I said intially this decision will reduce corruption but later it will help corrupts.
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Conclusion:- It is a masterstroke by Modi and it’s success highly depends on it’s implementation. I appeal everone to contribute for it.
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Srishti Shree answered this
thanks @sanjay. i liked your answer
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Harshita Dubey answered this
yes because it removes all the black money from our country . some problems occur for some times but it is the best step taken by the govenment to remove black money.
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