Write an article on the topic `demonetizationcould spark a new digital economy in India'
Such questions need to be attempted on your own to test your creative writing skills. However, these points might help you elaborate:
- PM Modi made an announcement scrapping 500 and 100 rupee notes starting midnight of 8 November, 2016.
- The main aim of the move is to curb the flow of black money.
- It is a big clamp down on rampant corruption.
- The currency notes of 500 and 100 can be exchanged at banks till 30 December 2016 and then till March 31 2017 by providing ID proof.
- The dramatic development has shaken the very roots of corruption in Indian economy.
- Political parties have started making this an issue to disrupt proceedings in the two houses of parliament.
- Long queues have been seen at ATM machines and banks, with some reports of unruly behaviour by the public waiting in serpentine queues for hours.
- The public has definitely been inconvenienced, but 'there is no gain without pain'!
- There have been reports of severe fall in business transactions as people are waiting and watching the market trend.
- The small scale vendors have seen a fall in their daily sale and are scared they may go into major losses.
- Seasonal markets are feeling the cash crunch as the common man is spending less under the given circumstances.
- But, this is a temporary setback to the economy and will eventually pay rich dividends as the parallel black money economy fails.
- The new digital economy will promote cash-less transactions.
- Digital wallets like PayTM, Freecharge, etc have started cashing in on this opportunity and educating the masses on the ease and convenience of the digital economy.
- This move is bound to check black money transactions
- Inspite of the inconveniences, the common man has hailed this move that hopes to eradicate black money and corruption as it is a sure step to progress and prosperity.
- PM Modi made an announcement scrapping 500 and 100 rupee notes starting midnight of 8 November, 2016.
- The main aim of the move is to curb the flow of black money.
- It is a big clamp down on rampant corruption.
- The currency notes of 500 and 100 can be exchanged at banks till 30 December 2016 and then till March 31 2017 by providing ID proof.
- The dramatic development has shaken the very roots of corruption in Indian economy.
- Political parties have started making this an issue to disrupt proceedings in the two houses of parliament.
- Long queues have been seen at ATM machines and banks, with some reports of unruly behaviour by the public waiting in serpentine queues for hours.
- The public has definitely been inconvenienced, but 'there is no gain without pain'!
- There have been reports of severe fall in business transactions as people are waiting and watching the market trend.
- The small scale vendors have seen a fall in their daily sale and are scared they may go into major losses.
- Seasonal markets are feeling the cash crunch as the common man is spending less under the given circumstances.
- But, this is a temporary setback to the economy and will eventually pay rich dividends as the parallel black money economy fails.
- The new digital economy will promote cash-less transactions.
- Digital wallets like PayTM, Freecharge, etc have started cashing in on this opportunity and educating the masses on the ease and convenience of the digital economy.
- This move is bound to check black money transactions
- Inspite of the inconveniences, the common man has hailed this move that hopes to eradicate black money and corruption as it is a sure step to progress and prosperity.