Points to remember before you participate in this discussion:
|Divya said: (Feb 11, 2019)|
Demonetization is a very good initiative taken by our government to eradicate corruption. But the results would have been much better if it got implemented with a proper planning and the government should have taken necessary measures before implementing. Particularly the poor and middle class people suffered a lot due to this. Surely there will be some negative consequences when such big steps have been taken. Corruption is not an small thing and it is a very difficult task to uproot it. The government alone can't do this. There should be cooperation from the people side too.
|Charles said: (Feb 10, 2019)|
Banning 500 and 1000 rs note is a good move in government I appreciate it but the way they implement especially time they implement is wrong. Banning popular money from the entire country one at a time is a bad move. I can say government has not made any plan before implementing it do you know time they did it's night time 8 pm on November 8 even it's day time it would be fine everyone would be aware of it but in night time many people don't know that these money was nothing just paper that is banned and poor people become more poor and wealthy people and people who admitted in hospital people who about to book marriage every one were been affected but people who actually need to be affected just came in car to banks and pick up require money beforehand but poor people or ordinary people stood in a line for a day and go home empty hand as that money are taken by so-called wealthy people so we cannot say that corruption is uprooted but we can say "it's just updated "nowadays we cannot see 2000 rs notes even in banks we don't know where they are but we can say they again become corrupt money aka black notes.
So as per the topic these bans are just changed of clothes but this should have been discussed before implement and my idea would be tested in particular state and see the outcome if that would have worked we would have to make it globally that is nationally banned notes or else make enough preparation and time and camp to change money in this big nation so not India go and shout before a bank and pressure them. That would have decreased the corruption but this ban actually made those wealthy people bag wait for less since for carrying 40, 000 rs at least they need to carry two briefcases but now just they need one briefcase to take it that's the actual difference.
|Rajdeep Roy said: (Jan 29, 2019)|
|Demonetization was a noble attempt to reduce corruption and hoarding of black money which is detrimental to our growth.
Demonetization has led to the return of money minted by RBI back to banks which is loaned to various businesses and people at lower interest and lead to better growth and development.
The psychological impact on corrupt or tax evading individuals was also great as they have witnessed how their illegal money and greed can work against them by losing the money, paying hefty fees and fear of being arrested.
There was a huge spike in property prices because of part payment being made in black but after demonetization the property prices reduced.
Though people faced huge trouble due to demonetization and the stock market indices decreased but people endured all of this without any Mass protest etc and also the market recovered quickly. It was mostly the opposition politician who spoke against demonetization but there was a lot of support from honest people on the government for it's an effort on curbing the menace of black money and corruption.
However regardless of this corruption has not been uprooted and there is still widespread corruption though it has been reduced by some amount. Also instead of asking for cash and storing it in safe houses, the corrupt are asking for money transfer digitally to Swiss accounts or through various innovative means.
Therefore we can conclude that demonetization did not uproot corruption and it has rather changed it's medium or clothes. However, the move was very bold on part of the government and it has reduced corruption and black money to some extent.
Also, in order to make huge changes in our society, we must play a part by not giving or accepting bribes and collectively educate the masses of the menace of corruption.
|Jyoti said: (Jan 18, 2019)|
In my point of view, the decision of Demonetization was right but the process by the Modiji government is wrong. Modiji wants the corruption free India by with this decision only the middle-class people suffer from:
1) Lack of new 500 and 2000 Rupee notes.
2) Long queues in Bank and ATMs.
3) No proper Planning.
I am not saying that the decision of demonetization was wrong a large amount of black money was in front of us but the middle class suffered a lot.
The main reason for demonetization was to curb black money, money laundering etc.
|Shaikh Saddam said: (Jan 8, 2019)|
My name is Saddam and I am going to make my view on this issue.
I think every decision should major by their consequences and achievement. The decision of Noteban was a sudden and was without any constructive policy. Note ban spread chaos in the market and small business industries collapsed. Common people had to face any major problems for instance to stand in a long row to withdraw money, it was very inconvenient and almost more than 100 people had to lose their life while they had been stand in a long row. Moreover, Rcc, Real state business collapsed and millions of employers had to lose their job. The intention behind the decision was to eradicate black money although common People who earn legally had to suffer more.
|Arkadev said: (Jan 6, 2019)|
|Hello Everyone !
I am Arkadev.
As per my analysis, DEMONETIZATION was not a smart step towards the eradication of corruption. Before its implementation government should have analysed its impact on the economy in all the economic level. And due to the poor execution of this step, the country peoples had gone through a tough phase. And almost no black money has yet been recovered. Therefore we can't say that corruption is uprooted.
|Parth said: (Dec 29, 2018)|
|Well, I think situation is more or less is same, if you think deep, you can clearly see that corruption is still exists in many areas, although it was good attempt to resolve this big issue, I have to say the government is only succeed 50 % in his target, although you just can't simply blame government only, the roots of corruption are very deep, & be realistic guys, in any country if their government wish to solve any major issue than the public has to cooperate the government, only government alone can't do this, the simplest example is swacch Bharat abhiyan, if the people simply doesn't have self discipline to keep their places clean, then it is really tough for the people.|
|D.Lavanya said: (Dec 29, 2018)|
|I am Lavanya. Coming to my point of view, demonetization is a good method. But what the procedure they take that's absolutely not correct. Because Modiji has taken his decision immediately for most of the black money people. But that affected mostly common people. Already, my friends said after that so many people in the queue at ATM centres. And those who have black money, they changed their currency with common people by giving a commission for that. So, that there was safe, but a lot of people struggled for that. After that, government Introduces new notes that is 2000, 500 rupees notes. OK, removed 1000 & 500 rupees that is good. But what is the use of introducing 2000 rupees? It is easily secured their money for black money candidate's. There is no use of that. So, finally what I saying that demonetization of currency is over, but there is no change in our country.|
|Jignesh Chauhan said: (Dec 24, 2018)|
|As per my view, demonetization is one step of gov. To reduce the corruption from the nation although it is not implement properly still due to which we get lots of changes in our nation like lots of black money holders came out.
India going towards digitalization around 67 to 100 crore people and many fake companies get captured increase in the amount of taxpayer as well as fake currency also get in lots of amounts. As we can see these all advantages in front of it some disadvantage like people has to stand in a queue. And all are negligible.
|Amit said: (Dec 8, 2018)|
|Demonetization was not the correct procedure which should have been implemented by the Modi government to eradicate black money. It was actually a very foolish step to utterly harass a mere mass of people throughout the country. And it had no positive output as such only a number of honest and innocent people who had no black money sacrificed their lives in this scam of government. It was just false hope given by the government to the public. And the ache din is still pending. Honest countrymen who pay taxes in time, they stood in long lines of ATMs and banks while the rich black money holders did not even have to get out of their houses to deal with their black money. And it was rightly stated that Narendra Modi is the 2nd Muhammad bin Tughluq.|
|Rishi said: (Nov 1, 2018)|
|Banning 500, 1000 notes is just changing clothes. In short, it will affect the corrupt channels but this ban is not ready to uproot corruption in long term. The Government has introduced 2000 notes which will surely revive corrupts because bundles of 2000 notes will reduce stress on their soldiers and occupy less space. We have need to be more serious about all these corrupt channels rather putting ban on currency. Banking system should be more stronger to deal with these corrupt channels. A bridge is needed to impart the gap between all departments where corrupts can invest their corruptly hard earned money which is stolen by honest tax payers. To uproot all these corrupt channel we have need to bring change in our education system. Value addition is required in our education system.|
|Misti said: (Oct 24, 2018)|
|Banning 500, 1000 notes is a very great attempt made by our Indian government to curb all the black money out. But still it can not be considered as the best way to uproot the corruption as if it has compelled people to remove their black money then on the contrary, it has also wasted time by standing on long queue in bank, created lots of problems to poor people.
On the other hand the rich people again won the battle by using their contacts thereby converting their money black to white.
In between middle class people get trapped. Meanwhile, many bogus notes were also printed.
So, according to me, it can uproot the corruption but it needs much proper implementation with all the forthcoming solutions.
|Prathmesh Patil said: (Oct 12, 2018)|
According to me, the demonstration is a good step against black money. But like a coin, everything has positive and negative aspects. The positive aspect is that the peoples from rural areas came to known that what is banking and how it works and came to know that our country is going to be the change we have to change with them.
Atleast they come to known what is going in our country. And the negative aspect is that this demonstration didn't affect too much on rich people. Because rich people have their direct contact with bank officials they changed their currency. But the real problems were faced by normal peoples. Beacuse during demonostration period people had spent houres and houres by standing in que for changing their currency.
|Tanu said: (Oct 12, 2018)|
According to my point of view, Demonetization was the excellent plan to got black money back. But what will government do if the mentality of the indians are corrupted. Getting black money back is not only the government responsibility, it's ours responsibility too. It was us because of this plan failed. It was us because of which gdp decrease from 8 01% to 7.11%. During the demonetization period the rich people makes their setting with the bank employees and only suffering faced by the poor people. It was very difficult for poor people to stand in the bank line for many hours.
But demonetization has some positive effects too. Because of this, at least poor people learn to makes their account in bank and they got knowledge about bank and interest. And also After demonetisation, villagers, local vendors and farmers are slowly getting used to digital transactions. Once they get used to it, they will realize it as a mode of advancement.
|Vina said: (Sep 19, 2018)|
|I think the step of demonetisation taken by the government was big. There are pros and cons to every action but I will talk more about pros first as it is more relevant.
Demonetisation has helped to surpass the threshold of doing payments online, initially, people used to hesitate to do online transaction but after demonetisation people had no choice rather than doing the transaction, according to the survey online transaction has increased from 0 to 66.6 percentage. This also helps in keeping an eye on the black market.
The government was expecting to retrieve all the black money but it didn't happen as said by RBI officer that 99.6 percent of the old notes have been received.
|Sujit Upadhyay said: (Sep 15, 2018)|
|I think demonetization is very good idea of Indian Government Because due to this digital payment become popular and it is necessary for each country. But ban of 500 and 1000 notes has not gotten 100% success to remove.
Black money because many rich person distribute their money to their worker as their salary as well as many bought diesel and patrol etc. As everyone felt that during demonetization only general people face lots of problem and stands for hours in line before atm but rich have direct contact with bank officers so they directly got their money from bank. So this idea couldn't show it's effectiveness so much.
|Deepak said: (Sep 12, 2018)|
I believe that Ban on 500, 1000 notes was just changing clothes! as it moved from common man to the ruling Govt, But also it was a good initiative with bad planning taken by the Govt of India.
In some Latin American countries demonetization occurs frequently so as to route out corruption in the Govt sector, so we also should do this more often but with proper planning and not giving the cash away first to the rich and the politically influential people.
|Abhishek Bhatt said: (Sep 2, 2018)|
|In my opinion, demonetization is the biggest leap towards the national development. Yes, the ban of 500 and 1000 Rs notes came as a shock to the Indian public, and yes, common man did face a lot of problems but we cannot ignore the fact that this decision also leads to the eradication of corruption to a very large extent if not fully. Nothing comes without a price, we had to pay the price of discomfort for a few days, but eventually good results have been seen. Now it is also true that people who are corrupted will always pave out a way for themselves, but because of this, keeping quiet and never accepting a change is not an alternative. I think a ban of currency was not a cloth changing game and even if it was, we still cannot overlook the benefits it did to the society and the corruption that it removed.
Hence we can say that it was one of the corruption freed changing decision that bjp government took on 8 nov. 2017.
|Aditi said: (Aug 13, 2018)|
Banning 500, 1000 rupees notes is a great initiative taken by the government, though it gives a hard time for a while but did its work. People may face some problem regarding changing of their notes but because of it, we can say that government is active and aware of the black money. Demonetisation help government to fight against corruption. And also there are some disappointment regarding implementation. While many people who have black money may able to change it by their own way of making deals with the other people.
Hence, the conclusion is that demonetisation help to uproot the corruption at its level while it also works just changing clothes!
|Prajakta said: (Aug 10, 2018)|
|In my opinion, demonetization is the biggest leap towards the national development. Yes, the ban of 500 and 1000 Rs notes came as a shock to the Indian public, and yes, common man did face a lot of problems but we cannot ignore the fact that this decision also leads to the eradication of corruption to a very large extent if not fully. Nothing comes without a price, we had to pay the price of discomfort for a few days, but eventually good results have been seen. Now it is also true that people who are corrupted will always pave out a way for themselves, but because of this, keeping quiet and never accepting a change is not an alternative. I think a ban of currency was not a cloth changing game and even if it was, we still cannot overlook the benefits it did to the society and the corruption that it removed.|
|Sallu said: (Aug 1, 2018)|
|From my point of view,
It is a good thinking to reduce corruption not to totally remove corruption. It is a great step to move on a right stair among most.
Yes, This is true there was not a proper technique or say facilities for a common people. And that was a demerit of this step. But this major change was really a blast for a corruption.
|Sanu Raj said: (Jul 30, 2018)|
|In my point of view, it is just one step to restrict the corruption. The government has to take numerous steps to uproot it. Its true, it took out all the black money from the society which was in the form of old 500 and 1000 notes. But in recent news, it is found that many people exchanged their old notes with the new notes with the help of bank managers and other brokers. They paid a lot for exchange. It was the only solution for some time. Again, the reality becomes the same as the previous. Even 2000 note is easy to hide in form of black money. It's a bad impact could be seen during the ban, it helped many people to earn in the wrong way. Till the current scenario, the ban of notes of 500 & 1000 is just changed its clothes.|
|Kingsuk Kundu said: (Jul 30, 2018)|
I think its two sides positive and negative.
The positive side is it's the positive step against black money corruption may be its failure. But something doing better than nothing. At least govt took some action against black money.
Negative Sides is it is created a huge problem for normal people. They queued in front of the bank whole day for changes their note. Etc.
|Snehalata Behera said: (Jul 30, 2018)|
|In my opinion, yes it is a good decision decided by Government of India by which the people who have a lot of black money that should become out and they conscious about that they further don't such type again. Corruption also decreased. But it's demerit is people suffering a lot of problems with this demonstration. They wait for a long time at ATM for with drawing money. Only 2000 notes are available. By which many problems occur.|
|Anmol Purohit said: (Jul 29, 2018)|
In my opinion, demonization is one of the best initiative taken by Indian government till now.
Due to this no doubt, the black currency is almost uprooted but the fact is due to this the people suffered so much especially the women who saved money for difficult situations of upcoming life.
So, according to me, it had both good and bad effect on the people of our country.
|Vijay Gawate said: (Jul 23, 2018)|
|In my opinion, it has two sides good and bad.
Good in sense that, increasing black get stuck also corruption decreased.
Bad in sense that, its major effect is on common peoples because they have to suffer from differant problems, they have to wait in long queue in ATM or bank for getting their money.
|Toshi Jain said: (Jul 23, 2018)|
In my opinion, on one hand, Demonetization has partially uprooted the corruption. And as to develop any country, some decisions must be taken by the government that may not please you always but may correct the things by giving little discomfort to you. So did this "Demonetization". Up to an extent it unveiled many people's black money and still counting.
And on the other hand, in recent Lok Sabha meet when Rahul Gandhi asked Modiji about 1600 times profit made by Amit Shas"s son, Modiji was speechless. Because their own parties candidates are corrupted. So if these politicians are just doing all this for the sake of politics and their party winning the elections then it's no less than merely changing clothes.
|Pranav Makwana said: (Jul 21, 2018)|
From my side, I would like to ask why govt doing this?
Most of the people are ready to manage that type of problem because they know very well govt at least trying.
So why we can't support to Govt?
|Yeshwanth said: (Jul 21, 2018)|
|Well, we can say that because of banning the 500 & 1000 notes there are many pros and cons both socially and personally.
If we consider socially, then I must say that the overall corruption rate have been decreased in the last two years and many people like big business tycoons who have avoided paying taxes have got their properties ceased and even their money was taken by the government.
Now let's just get into other flow, there are even many people who earned money legally and have paid their taxes in time. Buy just because of having liquid cash at their home they became helpless and could do nothing and lost all their money. But even in this case, there are some people who have political help so they got benefited. But what the point? if you want to stop corruption, it should be stopped in such a way that not even a single person who had sincerely earned should be affected, because it cost not a single life, but his family and their future.
So, I conclude by saying that although corruption rates have decreased than earlier, it isn't the way.
|Jesee said: (Jul 19, 2018)|
Every coin has 2 sides. Similarly every situation has two sides. Demonetization is really a big and challenging change took by the Modi Government. The idea is really good to reduce the corruption. In my opinion, this is a nice idea to implement which can make the drastic changes in the society but our government failed in implementing it.
|Pratiksha Hasure said: (Jul 19, 2018)|
According to me, every thing has two sides one of them is good and another is bad, so ban on 500 and 1000 notes these rule also have to sides.
Now first point of view, its very good decision taken by government to ban on 500, 1000 notes thats why there will be control on corrupted people and much more corruption Also be control.
But in other hand common people has to suffered much more problems. So according to me government provide first alternate option to people and then only they have to make this type of rule.
|Ananya said: (Jul 18, 2018)|
|Demonitization It was the biggest step which Modi government took in order to reduce corruption, everything comes with the pros and cons they had tried so much but I think they didnot planned that well. Because banning of 500 and 1000 rs note leads to so many hurdles for the common peoples on the other side the corrupt peoples invested their money in other assests like gold, diamond etc so I think this step didnot work completely or it comes out just like changing clothes.|
|Nishi Raju said: (Jul 16, 2018)|
|Good Evening all,
This Nishi Raju.
Demonetization was one of the biggest currency treats that our country faced. It was implemented on 8th November 2016 under the Modi government with the main aim of reducing the corruption. In my point of view it helped the government to reduce corruption but not completely stop it. This is because most of the people invested their black money in real estates and also in other assets such as gold etc. But when the 500 and 1000 Rs. Notes were stopped the day to day activities of the most common man was unmanageable. The process was a great cost to the government but a proper outcome could not be received from it. The next day after the demonetization was announced the BSE Sensex and NIFTY fell over 6%. Hence the overall idea was just another level of changing clothes and nothing more.
|Kevin Anto Joseph said: (Jul 16, 2018)|
|Hello good evening. In my opinion, the ban of 500 and 1000 notes is really a big mistake. The demonetization affected our whole Indian market and we didn't recover from if after a long time. The whole financial problem that we face is a after affect of the demonetization. People waited a lot in front of ATM that is the main achievement of the demonetization. Yes, there is lot of corruptions and black money in our country but their proportion is very low. Not all the people are engaged in corruption. For destroying low amount of corruption don't need to disturb all other people of our country. Thank you.|
|Kevin Anto Joseph said: (Jul 16, 2018)|
|Hello good evening.
In my opinion, ban of 500 and 1000 notes is really a big mistake. The demonetization affected our whole Indian market and we didn't recover from if after a long time. The whole financial problem that we face is an after effect of the demonetization. People waited a lot in front of ATM that is the main achievement of the demonetization. Yes there is lot of corruptions and black money in our country but their proportion is very low. Not all the people are engaged in corruption. For destroying low amount of corruption don't need to disturb all other people of our country. Thank you.
|Pri said: (Jul 15, 2018)|
|Banning 500, 1000 rupees notes are not at all the solution to curroption. Much has to be done. It has caused trouble to citezens. 2000 rs notes are still available. Also one who is corrupt will definately find a way to continue practicing corruption.|
|Navyasriram said: (Jul 14, 2018)|
|Our Prime Minister Narendra Modi introduced the idea to ban 1000, 500 notes with the intention to reduce the corruption as people deposit there old notes in the bank for the newer ones and increase the GDP rate of the people. As of sudden like a flash, he put his idea of "Removal of 500, 1000 notes" into the public. There were many problems with the unavailability of the money at the beginning. People used to stand for a long time in Q's to get money. Keeping all aside, Do we really get any change out of it?
Clearly, my answer is NO. Its like, in order to the caught crocodile (People having black money) water (old notes) is cleared from the pond which leads to extinct of fish (common people) , as they might forget that Crocodile can even leave on land that is the entire hurdle is to the common man.
|Tanya said: (Jul 14, 2018)|
|I think everything comes with pros and cons. Although the government tries its level best to eradicate corruption. But, I think the planning was not adequate. That's why demonetization has not a good impact. But, this is not only the responsibility of the government. This is the responsibility of all the citizen in the country. We cannot fully blame the government that demonetization is not 100% fruitful. Yes, middle-class peoples face many problems during demonetization but, there is also the good impact of demonetization like new taxpayers increases, the digital transition also increases (87 crores to 138 crores), after demonetization government cancelled the licence of more than 2.2 lakh fake companies, more than 7.5 lakh fake notes were confiscated, there is also decrease in terror funding.
In my opinion, this is the good step to bring black money. We know very well that corruption can't be removed in one or two weeks. And if all the citizen will take participation in it then becomes easy to do this.
|Georgelav said: (Jul 14, 2018)|
|According to me,
The motive of introduction of 500 and 1000 rps note may be to abolish the corruption.
But in practice it was just changing clothes. Because even huge amount of black money can be corrupted with in a short area using 2000 rps note. Which encourages the culprits to further move on with their illegal activity.
|Abhiram Sahoo said: (Jul 12, 2018)|
It is a really good topic for us and for our country, If there is a positive change, there is development, It hampers very life of normal people because they do not bank account or saving money day by day whatever they earn, they expense. It hampers so many PSU and industry also, it also decline our economics, It does not measure a way to uproot corruption because who had huge money, they planned properly to save money, if it would have executed properly then Most of the corrupted person might have caught, but not executed fairly. It was an only harassing way for normal people.
Finally, I concluded that if it would have executed with proper planning, it might have given the fruitful result.
|Piyush said: (Jul 12, 2018)|
|In my opinion Ban of 500, 1000 notes is not a good decision because due to this common people face so many problems. People have to stand in a line for hours for changing their money some people may have committed suicide and there is lots of problems faced be them.
The government took this decision to control corruption but there is no effect on corruption and people also find some way to rid of demonetisation.
So, this cannot control the corruption.
|Kavya said: (Jul 11, 2018)|
In my opinion; there are so many people suffered because of the ban of 500 and 1000rupees notes economic growth also fell down a lot of people losing their jobs because of this. They have to stand all the day to change the money. Some of old people loss their lives die to standing all the day because of lack of proper arrangements. Of course lot of corrupted people caught red-handed. It is very easy to get change the black money into white through many ways where as it is difficult only for common people. The factories also run on losses because of this demobilisation. Almost one year we faced lot of problems. It maybe success if the government took proper facilities regarding to this.
And also we heard in the news that one person thrown the money into the river and one man flowed the money from the car on his way.
As an Indian we should have a responsibility to improve our countries growth so please don't corrupt thank you.
|Rambo said: (Jul 11, 2018)|
|Banning 500 or 1000 notes was not a good decision in my point of view and one could say that it hasn't been so successfully applied to the community.
In further explanation, I would say its beginning was looking quite captivating but unless you plan it so the major corrupts people get affected then I think, the idea was eventually thrown into the dustbin. So, we need a good planning idea designs which further will result effectively.
|Vaseeharan said: (Jul 10, 2018)|
First of all, I should clearly mention that the ban on 500 and 1000 notes is not a historical Revolution made by central government.
It is considered to be one of the failure step taken by the central government.
It doesn't bring out any black money from any biggest black money holders in India.
Taking one paper from a bunch of papers will not make any difference.
It is mainly targeted at rich men.
But unfortunately, the target location Changed to middle and low-class people's.
|Chirag said: (Jul 8, 2018)|
|Banning 500 and 1000 rupee notes is a temporary solution, in no ways it will ensure that it will decrease corruption. Black money holders have suffered some loss of money but it doesn't mean that 500 and 1000 note ban have reduced corruption.|
|Nil said: (Jul 5, 2018)|
|Banning the 500 & 1000 notes is really a great initiative taken by Indian government. It's will not be uprooted the corruption fully but made the corruption hard to do at all levels. It's an alarm by the Indian government to the black money holder that the days are coming so harder day by day. Afterall currency is also on a way to lapse as the initiative of digital India program promotes the cashless Indian economy. So, the day is not far when the each and every money will be accounted for by the government. And era of corruption will go down.|
|Hemalatha said: (Jul 4, 2018)|
|Demonetization main aim is to stop corruption and make corruption less India. But this process face failure, it helps an only little bit. So many black money holders simply change their money in another way. But, common people suffer a lot by standing on roads in front of banks. They didn't get sufficient money in banks for their needs, emergencies. So, in my view, demonstration partially succeed.|
|Hema Latha said: (Jul 4, 2018)|
|Ban 500, 1000 notes are a sudden decision taken by central government. By this, middle class people suffer a lot by standing on roads for changing their money. But, this is not a correct way to stop corruption. In my view, black money holders change their money in other roots. So they don't suffer in any way, but common people suffer a lot. This process is only changing a new clothes instead of old clothes.|
|Manu Sharma said: (Jul 4, 2018)|
There is always two sides of a coin. None of them can be ignored similarly, this plan has also pros and cons. The main aim of this is to prevent corruption, funding of terrorist, exposure of black money. We know very well that corruption can't be uprooted in one or two weeks. Our country is so much indulging by corruption that it requires time to get overcome from this. Banned of old currency, linking your accounts with your Aadhar digital payments and so on are the stones with the help of which we can build a bridge to overcome from the specific problems and obviously it needs time. No miracle will happen in some years but yes its a good initiative.
Now, the cons. The govt should arrange proper facilities for changing currency. We all saw in news that there were huge queues in front of ATMs, some people died, some suffered from other health-related problems while standing in the queue. People who thought if they went to the bank to change their black money then obviously they got arrested so they destroyed our currency. They threw that currency in river, dustbins, on roads and so on. There was a huge loss of currency because of these things. Though it was black money they didn't contribute that money to the welfare of our country still it was a loss to our currency by destroying it in those ways.
At the time of demonetization we suffered from some problems but now we have successfully adopt that change.
So conclusively Demonetisation is like a injection to get rid of the illness of our country.
|Saikumar said: (Jul 2, 2018)|
|Demonetization is a very good thing to clear the corruptions. But during this process, our country lost the economy rate and corruption also increased.
The government simply announced but they didn't take any further step to provide new currency.
|Rajesh said: (Jul 2, 2018)|
|In my point of view, there is no change in Indian economy after demonitization. After announcement of demonitization I think it would be helpful for the uprooting of corruption of India and it results in economic growth of India. The idea of demonitization is very good but it is not properly implemented. After ban of 500 and 1000 the middle class people are struggled and in that struggle also they take it in a positive way because they thought that it is first step for uprooting the corruption in India. Thats why they take it in a positive way. At the end the black money holders simply exchange their money. In their way of thinking they simply wearing a new clothes instead of old clothes.
|Saqlain Shaikh said: (Jun 30, 2018)|
In my opinion, demonetisation hasn't done any good, in fact, it has created many setbacks such as many of the industries were shattered, lakhs of workers lost their jobs.
India's growth rate has been reduced due to demonetisation. During the demonetisation period, people faced a problem because there was no management done by the government to provide new currency to the public.
People get lined up for hours for withdrawal of money from ATM. Some people lost their lives while standing to get money from the ATM.
|Rishabh said: (Jun 29, 2018)|
|In my point of view, as demonetisation was a welcome move as above mentioned by one of my friend it needs courage because government is aware of problems regarding to banning of 500 and 1000 rs currency but as we are heading towards positive aspects this step is taken to counter flow of counterfeit currency it is stopped for very extent and stopped funding to terrorist group there are no reports during that time related to any terrorist attack.
And as we all read the news that on that time there are some cases that a large amount of cash is drowned in rivers and there are cases too that a large amount of cash is transferred to relative to whom they didn't talk from many years they get cash.
So the conclusion is as for what cause it has happened the objective is achieved for some level they are able to restrict the flow of black money.
|Riyas M K said: (Jun 26, 2018)|
|Demonetization was one of the most brave and bold decision of Indian government. It was a move against black money, counterfeit currency and to abolish the funds for terrorism. But we cannot say that the demonetization was a success. Let us analyse it's targets one by one, starting from black money. It is a fact that India had thousands of crores of black money before demonetization and most of them might be in the form 1000 and 500 rupee notes. But most of the currencies that were circulating before demonetization have returned to RBI after demonetization. It is clear that the people who had black money with them have found their way to change it to new currency. Counterfeit currency of the new currency note also was caught from smugglers in a few weeks after demonetization. So this objective also was not achieved. Terrorism activities activities had reduced for a few weeks after demonetization, no incident was reported even in Jammu kashmir for a few weeks. But even terrorists have found their way to find the fund for their activities. So it is clear that demonetization could not achieve it's objectives. Let's check what were it's impact on the life of a common man. People had o stand in front of ATMs for hours to withdraw the new currency. Remember that all of them were standing for the money they earned, not for a money given free. Some people died paralyzing while standing in the queue. I have read news about a girl who had a kidney problem and had no money to treat it. Many good people helped her and made the money for her surgery. This money was deposited in bank before demonetization. But because of the restriction on the withdrawal of money from an account and shortage of currency they didn't get the money in time for her surgery and she died. Demonetization caused a deduction in the GDP of India. So I cannot say that demonetization was a right decision.|
|Mahesh said: (Jun 24, 2018)|
|You should note that the government had very good intention behind demonetization. The government was aware of problems it was going to create, but still it took courage to do it. But I don't think it succeeded as much as thought.
When demonetization was announced, it was a big surprise for everyone. Most of the people welcomed this, may be because most of the people liked were on government's side. The government said this will curb the financing of terrorist activities and will eradicate black money. People had never seen this kind of thing before, and they believed it, they had really too much expectations. They thought this demonetization is going to bring miraculous changes. But today they aren't feeling much changes.
So did it fail completely? Or why it did not succeed as thought?
The demonetization did affect terrorists. They could not convert the money to new notes. So of course it the terrorist activities reduced for some time. But the terrorists are mostly funded by Pakistan or gulf countries. So after some time, they could able to receive money like before.
If we talk about corruption, the people who had made money by illegal ways or the people who had hidden their income to prevent taxes got enough time and enough ways to convert into new cash. But people who had considerably more money had no ways but to deposit it in bank. So the at least most of the money came under banking, which also provided capital. But there were large number of people who had deposited more money. One, it can't make out which money is honest one and which money was earned illegally, so the government could not make all people to ask to pay taxes. But of course it made big tax hiders make them pay. But as most people's money have come under banking, in future government can make more easily more people tax payers.
And because of demonetization people understood how corruption can be reduced by using banking and also the importance of digital payments. India saw big improvement in digital payments after demonetization.
So, the corruption can't be much controlled by demonetization, but corruption prevention wasn't the only intention behind demonetization. Demonetization will definitely bring positive impact on Indian economy. So demonetization is not big success, but not a failure.
|Saksham said: (Jun 19, 2018)|
In my point of view, demonetization has a postive as well as some negative aspects.
Plus point of demonetization is that is has stopped fundings to terrorist agencies and also stopped corruption and black money to a larger extent. Its disadvantages are that enough time was given by our government To public to convert their black money into white as there was no curb on buying of gold etc. People had to suffer in long queues in front of bank and many bank employees died due to overburden.
It was a good initiative by the govt but was not completely successful.
|Yadagiri said: (Jun 19, 2018)|
Demonetisation of Rs.500 and Rs.1000 was announced by prime minister Narendra Modi on 8th Nov 2016, . It was a shock to the Indian public. The intention of implementation as said by the govt was 1. To curb financing of terrorist activities, 2. To stop the circulation of counter fiet currency and 3. To eradicate black money.
It was a welcome move, and was successful in curbing circulation of counter fiet currency and affected funding of terrorist activities, to some extent. It has also succeeded in reducing cash transaction and encouraged digital transactions.
But, the most affected were low and middle-class people, who suffered a lot standing in huge ques, some of them died standing in crowds and some died not withstanding the shock.
In my opinion, demonetisation has nothing to do with corruption, many of the black money holders had found their ways to exchange currency and govt did not take any stringent actions against them. As said by one of our friend above it is the intention of public having more and more and most of the times corruption is due to offerings by people, the anxiety of getting their work done at any cost. This can only be changed through a change in mindset of the public.
|Yaqob said: (Jun 18, 2018)|
|Ban of 500, 1000 notes is like a test case for black money holders. They just learned how to solve this case when the face and not only this they also learn how to store, exchange and transfer black money whenever they may these. So, what I would like to conclude is 'Ban of notes' made nothing of uprooting the corruption instead it learnt them how to face that situations and overcome them.|
|Rounak Soni said: (Jun 18, 2018)|
|In order for any plan to be successful, it is 1% idea and 99% execution and the same applies here. Banning 500, 1000 notes was a good initiative by the government but was not executed well. It helped rich people in converting white money into black money. Middle class people were the affected ones as they stood in front of banks in queues for hours and the rich people got their money changed into white. The only positive is that people started using online payment applications like paytm, bheem etc. For rich people it was just change of clothes, but still it left footprint in their mind that government can bring some other initiative to uproot corruption.|
|Deepak Kumar Pandey said: (Jun 17, 2018)|
|Yeah! The statement can be true. But there is not only negative effects like conversion of black money to white of big business man or some corrupt leaders. While most of the money has come in the eye of bank after demonetization and this reason is more powerful.
And if we say about the impact on poor people or middle class people was also there but all this was done for good for people. Because of demonetization many people forced to use online mode of payment which is also more valid reason than suffering in queue of ATM. And also rich people use their debit cards for online transaction that's why they didn't come in notice of people who are in queue.
This is a step in eradicating courption but in different manner than people usually think.
|Varshini said: (Jun 15, 2018)|
|Hello everyone. We are in the society that is surrounded by full of corruption. Demonetisation has a major impact only in poor and middle-class people. There is no eradication of corruption after implementation. Many rich people and other corruptionist have invested their money in Share market, gold and real estate. Only middle class and below poverty people are affected but it's just changing clothes for rich and other corrupted people. Thus demonetisation neither reduce nor eradicate corruption.|
|Madhu said: (Jun 12, 2018)|
|According to me, everything comes with some pros and cons. Although the government tried it's level best to eradicate corruption from its base. But, I think the planning procedure was not adequate. More stringent measures should have been taken. Despite of all the efforts, it's not only the sole responsibility of the government alone, we the citizens should also contribute to this matter. And it is only possible if we remain self content with whatever we have. The desire to have more is the main reason behind this corruption problem. So, I think this action could have been better if we ourselves try to put some efforts into changing our mindset.|
|Rupesh said: (Jun 10, 2018)|
|According to me, it is good things for our economy, because of demonetization affected by the rich people as well as middle-class people, in my life it has seen the first time and after demonetization our economy increase.|
|Digvijay said: (Jun 9, 2018)|
I am Digvijay.
In my opinion, friends it's not that much uprooted as the planned made by the government or our respected Modi Ji wanted but yes we can say that it has really affected the rich people because of this demonetisation our economy increased little bit at that time when it implemented. But it is true because of this implementation the middle class and poor have faced so many types of problem. But hates of you Modi ji that one person who thinks for poor people or to become our nation corruption free. Or we can say that he has taken his first step against the corrupted person.
|Shruti said: (Jun 8, 2018)|
|In my opinion, it is a very good initiative of government for reducing the corruption. Although it fail to achieve the expected results I think it has an impact over corrupt people too. I think it is an indirect warning of the government to such people so that they can come on the right track and serve to the nation.|
|Deshmukhsuraj said: (Jun 7, 2018)|
Ban of 500 and 1000 notes was a good step by our government but it fails in many views.
There was no any black currency caught during the demonization time.
There is no good effect on people's but so many bad effects are some during the denomination. No any businessman or any politician are not stand in the queue but poor and middle-class people's are stand in the queue of ATM or bank. Demonization takes some lives that are not any rich person that are poor people's.
|Pooja said: (Jun 7, 2018)|
Yes, it is a good step, the government has been taken for demonetization.
But this time, it was not succeeded as it only affects the poor or middle-class family. Neither any minister nor any businessman is in the queue at ATM for Exchanging money. The Government has done this just to make India corruption free but it was affecting only poor people whose family is standing in a queue outside of ATM as a daily routine it affects poor people daily income source. Hence, Demonetization is just changing clothes I would like to say that Government are doing good in the field of developing India but they should be taken care of middle class or poor family first.
|Narayan said: (Jun 6, 2018)|
|The intention behind banning notes is noble, but corrupt people always find ways to escape such traps. As a result, a number of corrupt people managed to exchange the old notes to the new one by joining hands with bank officials. Though it was strategically planned to announce just before midnight, some people still managed to get rid off black money by acquiring some wealth. Banning notes resulted in common people standing in front of banks in queues for hours while corrupt people had already new cash. Some amount of success could be found due to this drastic decision but it was a disaster to many middle-class men and women. It should have been planned properly. Truth to be told it is a mix of changing clothes as well as uprooting corruption.|
|Sai said: (Jun 6, 2018)|
Ban 500, 1000 notes are nothing but just changing the clothes. The primary idea behind this decision to be to support the higher ministers and make their black money converted into white money. Due to this Demonetization, the poor and middle-class people suffered a lot by standing in front of ATM for a long time.
|Heena Vasdani said: (Jun 5, 2018)|
|According to my point of view, the decision of banning on 500, 1000 notes are just changing clothes. IT is correct that demonetization is an important step which is taken by government but it is not implemented correctly. Demonetization is just affect the poor or middle class people, small business etc but if we noticed then we saw that none of rich person was standing in front of bank for changing the notes, it's just because they already find a way through which they convert their black money into white money. Corruption could not be stop completely by Demonetization, it can be stop by secretly investigation on each officer, minister or other person which get high power as the perspective of their duty or there job etc. When each and every rule will be apply on everybody equally as these are applied on common people then corruption will not only reduce but it can be completely disappear from our country.|
|Bharti Jaib said: (Jun 4, 2018)|
According to my point of view, it's just like changing of clothes, because demonetisation affected only common man, small businesses and farmers only, the main corruption in India lies in upper-class families, ministers etc, after demonetisation no minister was caught in corruption cases or cbi raids, black money can come again in power after banning and bring new notes, so it didn't solve any problems.
|Brahma Reddy said: (Jun 4, 2018)|
Ban 500, 1000 is a very good idea to protect the country from the corruption. It should have some strict laws. The government should be transparent and should have providence. But Modi government fail in both ways. That's mean ban 500, 1000 is just changing clothes. The government didn't tell till now how much money they printed and how much money they collected.
|Niranjan Kumar said: (Jun 4, 2018)|
Ban on 500 and 1000 rupee not is very courageous decision in recent years. It's aim to get India corruption free in financial means. Banks played an important role to perform that cumbersome task and it also perform well even in very inverse situations they perform their duties with full dedication and integrity. But the other government debt related to this decision doesn't do well like income tax debt we are expecting that they can verify the account holder who deposited much cash during demonetisation. Unless that all debt does not perform their duties how it is possible to make demonetisation successful up to some extent they only change their money. Govt can also instruct their concern dept to do their duties in their time frame almost 2 years going to happen no any outcome are there so very little corruption is uprooted I hope government may do some extraordinarily work to make demonetisation successful.
|Gaurav Thakur said: (Jun 3, 2018)|
|According to my knowledge, the ban of 500 and 1000 notes is a very good step for reducing the black money by our government. It is not just clothing changing. But it is a huge step to reduce the corruption. In many places, Many people had to face some problems in their marriage and in medical treatment etc. But after this, it is a good step to stop terrorism and corruption.|
|Jawwad Ansari said: (Jun 2, 2018)|
|In my opinion, I find it to be the changing of clothes and switching to much better ones. What I mean by that is, it was a step taken by the Government to increase in the corruption. According to an authentic source, the amount of money (notes) in circulation is much more as of now than that before demonetization. I personally don't believe in a Democratic form of Government There are many reasons for this belief which has rational grounds and reasoning attached. When you believe that this universe has a Creator, then you should ascertain and implement the guidelines given by Him to rule the world for it to be a better place.|
|Avinash Sharma said: (May 30, 2018)|
|According to my point of view, in these days taking much risk fully steps by the government to control the corruption like ban 500, 1000 notes by this important step large amount of corruption is stopped but at the time when 500 &1000 notes are banned then there is much difficulty for the poor to change their notes but by the corrupt people the money is changed easily by the bank employees so on this type of steps corruption is something stopped but there are many problems are facing by poor people by.|
|Sanjay Kumar Sahu said: (May 30, 2018)|
|Hii, guys I am sanjay.
In my point of view, The government will try to take incredible decision to change our country's Bellow poverty classes people to something better position through the corrupted black money in our country which has in a hidden way but I still say that its not working because of that main root of corruption is who create this word of "demonetization".
In the time, when we can't use of ban, not of 500 and 1000 Rupees notes poor people are facing so many problems to face the changing the ban notes in local banks and have so many conditions to change its.
But I can't see any RICH person in the line of changing notes. Because they have already settled his way to convert BLACK money into WHITE through consult the bankers.
In the say of my way this not at all black money which without pay the tax have in our country.
Black money is which have outside of our country on similar like that swiss bank holder of our politician and businessmen.
|Prathyusha Talari said: (May 29, 2018)|
|Hi; guys, I am Prathyusha.
And in my point of view, the ban of 500 &1000 notes are not just changing clothes.
It is a step to fight against corruption, demonetization is implemented on 8 nov 2016.
I think nothing gets changed, not effect on corruption so, many members saying that Black money was found and Change to white.
Any person who has black money he will be an influenced or rich person he can easily translate to black money to white.
In banks also, I can see so, many normal people standing in front of banks I did not see one rich person standing in front of banks.
Finally, I concluded that nothing gets changed to ban of 500, 1000 notes.
|Naga Satya Kishore said: (May 28, 2018)|
Nowadays corruption is enhancing In our country. Suddenly, government took a decision has demonetisation cause to collect the black money but common people faced so many problems and that time not available money in banks. So much time waiting for money to near the banks otherwise some people are died. This effect is totally on every person corrupt or uncorrupted. Finally, this method is going to developing the country in our future.
|Rahul said: (May 22, 2018)|
|It was very challenging decision of our government to make India corruption free. Our politicians and businessman have too much black money which is underground and they can't make it white within few days. So it was a good decision. And the second thing I would like to tell that it hammer next activities and terrorism in Kashmir because it will be funding illegally by Pakistan and China.|
|Dev said: (May 21, 2018)|
Ban on 500 & 1000 rs note it's not a cloth changing action. Our government took this decision on 8 Nov 2016 to stop money laundering and black money in India. Which was a very huge decision ever taken by the Indian government in last few years. Now if people say that it was just cloth changing then it's not correct because nobody can change a country in one day. So we have to wait for a time to see the final result of these changes. We can say that after demonetisation a very big part of black money recovered by the government till the time and they are still working on it.
|Ramya said: (May 19, 2018)|
|Hi friends, it's really a good topic to discuss on, banning of 500, 1000 notes s not just changing clothes, though the government has implemented aiming at removal of black money, it really influenced on the common man. Every black money holder had taken his/her own steps. They made their life, money safe but what about an individual. Government has received only 30 percent of the money what about the rest.
Even the people who are the holders of black money can even link up with the bank employees by offering them bribe. So, the rest of the money what government is expecting is not back. Further improvement is essential in Demonetisation.
|Mohammad Bariya said: (May 16, 2018)|
Here, I will say that demonization of 500, 1000 notes is not just changing clothes. Yes, I agree on both major points that the idea of demonization was good and the implementation was not proper. But after demonetization govt has done a good job.
Let us take one example that you have one bucket which has some holes and one cannot see it by naked eyes after filling the water you realize that the bucket has some holes and then you can fix that holes. But you have to find that holes fast otherwise the water will drain.
Here also same theory takes place that the govt has made the policy which they think that it will work but after implementation, they realize that it is not working as they needed, it has some loopholes so then the govt tried to fill that loopholes by introducing new schemes for marriages and student etc. But the govt has taken much time than needed in implementing the schemes and that goes against the government.
Yes, at some instinct the demonization has done good work in decreasing corruption but not in the way that govt needed too.
|Sourav said: (May 16, 2018)|
|If you have 500 or 1000 notes then frame it. It depicts an end of an era. The sudden, surprising and bold move by the government to ban the denominations of 500 and 1000 notes. It left all in panic. As we that every change /revolution need a bit of screifice.
A huge and costly dent on black money.
1) The prominent effect on that people who has the money in the form of currency. This will hit the unaccounted money more effectively because most black money is hidden in the form of 500or 1000. The ban will render the 500 and 1000 notes useless.
2) this move will enormously effect the terrorist org. And arm buyers so they can never be able to legalize the possesing money.
3) they can also be able to remove chunk of counterfeit from circulation.
4) the income tax dept. And bank also keep their eye on the big amount of deposit or tranfer to other account. The black money increases the inflation as the cash transation is most prevalent in India. This will tighten the noose on illegal and benami assets.
5) if someone want to return black money the can give and it will benefit the nation itself.
6) the new 500 and 2000 notes are more secure and difficult to fake.
Corruption just changing clothes.
1) this cannot be uprooted completely because it is human tendency and nature we can control it by just ourselves.
2) the only it affects the citizens and the small time corrupt people. The big fish escapes from small brushes.
3) most of the corrupt and imposter person are hide their black money in the form of gold, jewellery, precious stones etc.
4) The people will get another chance to make unaccounted money.
5) more black money than in India is stored in the tax havens and it nearly impossible to get that unaccounted wealth from outside.
It is a start. There is no panacea for the human tendency towards greed and corruption. It is not a victory but it is a victory nonetheless.
|Rakesh said: (May 13, 2018)|
|So it is demonetisation.
A big and very difficult decision taken by Govt on 8nov 2016. According to me, the success of eradication any problem in India or other countries completely totally depends on the way people think about that problem. It's depends whether they take problem as a nation level or they want to save only themselves. So, until we do not successfully change their way of thinking we are not being able to eliminate issues like corruption because every time when we try there are always some people in the system who help wrong peoples and we failed. But this decision taken by gov reduce corruption at some extent now.
All accounts are linked to Aadhar and pan card and gov have all records of money flow.
Another thing is digital paying system really make easy our life.
|Sourabh said: (May 11, 2018)|
|Ban on currency is an bold action taken by our government. It's reduce the rate of corruption because of scared of black money holder and their exchange of black money with gold or with property so decline into the rate of their respective price and also play important roles to reduction corruption.|
|Amit Sigroha said: (May 10, 2018)|
|In my point of view, banning 500- 1000 rs notes is a good step to uproot the corruption but the government had not taken strict action. Bank officer also dishonest. They help the rich persons to exchange their black money into white money. Poor and middle-class persons suffer a lot in exchange for their hard work money by standing the whole day in a long queue.
I think only one advantage was there,
1. A small reduction in corruption.
2. And the introduction of the digital payment system.
Govt had not taken this step at a proper time.
If Modi Ji wants to do this, the first govt must have to print a plenty of new notes by that people had not to face these problems.
So, banning 500- 1000 notes was just changing clothes.
|Chandan Mishra said: (May 8, 2018)|
|Definitely it brought drastic decrease in corruption occuring in the form of cash. Money recovered by government is huge compare to the revenue. So I think it's not just changing clothes but it has made a singnificant impact in reducing corruption.
This bold step has created fear in the minds of corrupt people so that they will be scared of doing this again and might be cought in the hands of CBI.
Corruption involved in government departments are mostly eliminated because of demonstration.
|Manoj said: (May 3, 2018)|
|In a bid to weed out corruption from our country and it has positive consequences for some extent because we often get news of sporadic "cash stashing" and results into cash crunch in market as recently we saw "cash crunch" in ATM.
Hence ban 500, 1000 notes couldn't able to eradicate corruption but yes it would be used as tool to curb out corruption - availability of cash area could be able to find out as government has data of it and raids could be carried out as happend in karnataka where government contractor stashed cash in crores.
|Sachin Pathak said: (Apr 30, 2018)|
|Definitely, corruption uprooted by banning 500 and 1000 rs notes. Only corrupted people face difficulty due to demonetization because there precious is in danger so they have to find several ways to save their taxless money. My family did not face any difficulty at that time because we did not have black money the only difficulty we faced is to be in the queue to withdraw money.|
|Vikrant Singh said: (Apr 29, 2018)|
|People died during standing in a queue how it could be a good step? those people have marriages or some other events in their houses they didn't have money gov didn't make any plan for them they made it later govt every time provide solution when people suffered from it they didn't think it earlier Before implementing. I would say It was a foolish step.|
|Vikrant said: (Apr 29, 2018)|
|Obviously, implementation was not so good. It implemented in a hurry to make public fond of Modi as it was announced in 8 nov 2016 and there was an election in UP in Feb 2017 so gov think that this is a right time to implement and till the election, the problem will come in under control and this makes Modi famous in the country. That's why they announced demonetisation in a hurry they know if they would take some more time then maybe the situation will not be under control until election and people will not vote him. So demonetisation was for the benefit of their party. As we all know how media make this news a sensation and Modi a good leader. But it was just POLITICS.|
|Rakesh Doley said: (Apr 29, 2018)|
|I have been coming through many posts here, and I want to share my opinion.
In my opinion, demonetization is mostly kind of changing clothes more than tackle with corruption, Exploring black money.
It definites that it was a powerful, bold step taken by our honourable PM Shri Narendra Modi but unfortunately it is not becoming a success. According to me, it is most kind of changing clothes because whatever the circulation of the money was 99 percent of that has been coming back to RBI. Therefore there is no cracking of black money. Many corrupt people were able to change there high-value denomination 500 and 1000 rupee note very easily by shaking hands with bank managers. In case of corruption high-value currency is very useful as it is easily carriable and of course high value due to which they could keep the huge value of money in a single file, therefore it was good to demonetize to crack that corrupt money. But again a high value of currency note 2000 rupee has been coming which has high value than before, therefore this will again lead to corruption. That is why I want to say this is mostly changing cloth. It has a very little significant crackdown on black money which is more than the cost that has been spending in demonetization. Not only that most middle class and poor people were suffered more.
|Shital said: (Apr 26, 2018)|
According to my point of view, demonetization is the great step taken by PM Modi to stop corruption in our country because it is the main problem of our country.
But its not work in proper way because of this most of the middle and lower class family suffer so much. Thet have to stand in long queue to change their note and the other side for rich people its just like to change a cloth from the shop. They use their contact to the bank managers to change their notes.
Demonetization directly affects the poor people who stand in long queue to change their notes. They soffered so much.
|Neeraj said: (Apr 25, 2018)|
|Ban of 500, 1000 notes is a great initiative taken by our government to control corruption but there is no proper strategy have a government so that decision of ban note successfully achieved.|
|Gunjan said: (Apr 23, 2018)|
|In context to demonetisation of 500 and 1000 notes, my opinion is that it just changing clothes. As we can saw easily that intially this step is welcomed by almost everyone even by middle class and poor people in a hope of helping government and discarding black money and ofcourse corruption from society though they are the part of society which have to face a lot of problem during this phase. People have to stand in lengthy queue for exchanging notes, they even couldn't have sufficient money to buy their daily use products.
Also, as claimed by some news reports, rich people had information about this demonetsation before its actual announcement so they smartly converted their illicit money and don't have to face a lot of problems as faced by lower class. Societies. In addition to this as reported by some politicians and economist most of the illegal money is in the form of jewellery, properties so this banning has no such good effect on discarding black money from society.
As reported on august 2017 that 99% of banned currency was deposited well in banks leading to only Rs 14000 crore of total denominised money had been discarded leading to total failure of highy preplanned stratergy.
|Bharat Hp said: (Apr 23, 2018)|
|A Decision on Ban of 500/1000 notes was beneficial because of following reasons:
1) it uprooted corruption not completely but up to some extent (it gave hope to middle/ poor class people about the reduction of corruption).
2) after long run (5-10 year) peoples will attract towards digital payment system (it will create transparency).
3) the number of the taxpayer was increased.
However, the decision to note ban was not pre-planned. Hence, Indian peoples face lots of difficulties like standing in the queue for an hour/shortage of cash in bank / many industrialists suffer losses / our GDP went down etc.
Ultimately, we can say that due to note ban fake currency which was used for terrorism & other activity, is completely eradicated.
|Sweety said: (Apr 20, 2018)|
|Decision of Government to ban 500 or 1000 notes had come on 8th november 2016 and changed the India's economical, social and political condition completely. Definately people has to face difficulties in exchanging the old notes but yet they accepted the decision of government Because we all know this was a major step to reduce the black money and bring the corrupted people to light. We heared so many case of raid of income tax department on corrupted people house during the time of demonetization, so of course demonetization uprooted the corruption, not completely but to some extent. This step created the fear in the heart of corrupted people about the government Determination to eradicate corruption. And also give hope to people about reduction of corruption.|
|Mohammad Munis said: (Apr 20, 2018)|
|Good evening everyone, You all might be right in your opinion and in mine too. We suffered a lot at the time of demonetization like standing in the queue for hours, many industries suffered a huge loss, GDP got down and more which already quoted.
Everyone knows that the implementation was not done in a right way. In my opinion, the implementation could have been done in a right way, if 2000 rs had not been introduced, instead, 500 and 1000 rs were introduced. This 2000 RS serves as a medium for collecting black money.
Secondly, Rising of black money could have been avoided by decentralized or blockchain technology.
|Abhishek Goswami said: (Apr 17, 2018)|
As per my opinion, banning 500, 1000 notes is just changing clothes I would like to explain my thoughts which are self-explanatory for the favor of my point.
No doubt it was a good initiative by our honourable PM Shri Narendra Modi Ji on 8th November 2016 in order to stop corruption in the form of black money and help the overall economic growth of country although this decision was taken by very suddenly and hence no adverse effect on rich people.
Secondly, middle-class people suffered a lot by this decision because there was no new currency in the bank for being a replacement of old 500 and 1000 rupee note and there was large queue of people at that time for replacement of currency hence people suffered a lot.
Thirdly, by banning 500 and 1000 rupee notes the share market was drastically down in the next consecutive 2 months from the date of demonetization and significant fall were observed in %GDP of India by our economist.
In favor of my point I would like to enlighten the fact during a decrease in the % GDP of India many people unemployed due to lack of jobs in the market and most importantly as per RBI report 99% money was recovered so this decision does not give any help to make a full stop of black money.
In the end, I would like to conclude my point that banning 500 and 1000 rupee notes were just changing clothes nothing else.
Ban 500, 1000 notes - Corruption Uprooted or just changing clothes!
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