Write a letter on your views on demonetisation?

Dear student 

The following question tests your creativity an should be attempted on your own. However, here are a few useful hints. 

- In a radical new move, the prime minister has demonetised the Rs.500 and Rs.1000. 
- Though this may seem like a move towards the eradication of black money, it has also brought about negative effects. 
- As a result of this, people have started bringing out their black money. 
- Many have either been donated it, paid their taxes with it or worse, burnt it.
- This is indeed helping the government coffers. This will directly help us in the development of the country. 
- On the other side, demonetisation is affecting the poor. 
- Not all people have access to cashless payment. 
- Without debit cards or credit cards, poor people cannot even buy the daily essentials to feed themselves. 
- Small scales industries like fishing, flower shops and grocery shops have had to shut down their business temporarily due to lack of money. 
- Whilst the move to bring out black money was a noble one, a lot of thought should have gone into it before implementing it. 

The advantages of demonetisation are:

1. Credit will become easy, interest rates will come down.
2. It will help government to fight corruption, black money, etc.
3. Smuggling and illegal activities will reduce.

The disadvantages of demonetisation are:

1. Real estate sector will be affected badly.
2. Common people who do not know card transactions will suffer,
3. It will impact daily wagers.


  • 36
it will help india
  • -3
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