Ban 500, 1000 notes - Corruption Uprooted or just changing clothes!

I have posted this so long because if you know about it as far as possible it will definitely help you to tell during more time.

It is said that to make our environment corruption free, our prime minister had declared one process, that is demonetization. In that process 500 and 1000 notes were totally banned. Actually, there were several reasons behind to do that. The one of the reason was to reduce the market price of essential things. Because lots of corrupted people were not giving their proper tax to the government. That's why our govt had to increase the market price due to getting less number of taxes. And another reason was to reduce the black money as soon as possible. Actually, the planning of that decision had been processing since very long time. But in 2016 Nov it has done successfully by our government. Because of increasing market value of essential things, the middle-class people of India had been facing many problems. To avoid that situation Mr. Narendra Modi had announced demonetization. But was is so useful for our country? Let's talk about.

This was a good decision to decrease the black money from our country, but it was not the best decision. Because after declaring this process, the citizens of India had to spend very difficult situations that they never expect before. This process had destroyed the natural activity of human beings. The money crisis had been seeing over the country because the enough money was not available in the bank. For that reason, people had been standing in a queue of bank or atm to get money during very long time. Many of people had to bunk their office to take money. Even I had seen many of old peoples, they had to stand in a long queue for an hours and hours. To sum up all situation, I will say that the decision of demonetization process was not best.

But before criticizing about this, first of all, we need to know the aspects behinds the demonetization. We should know the intention of making that decision, that was totally for our profit. If we are true nationalist then we should co-operate with the government. But our problem is that we always expect the result will be in our hand at an instant. We know we were unable to stop corruption but this message can make fear to all corrupted people.

Banning of notes, actually, it didn't affect more to the rich peoples, but the poor and middle- class peoples were greatly affected. People like who use to work daily wages, they know if they couldn't able to earn money, their family will be died without getting food. So they had to take care both of things like they had to deposit their wages in the bank and earn for next day.

I think the corrupted people were not totally affected for that sudden decision of the government. Because they know how to save their black money. They did their job with 500 and 1000 notes, now they are also doing the same job. They will never be stoppable. Instead of doing this I would recommend our government to take care the every bank transaction details of every doubtable corrupted people deeply. That can make them aware to hide their black money.

Thank you!

Ban 500, 1000 notes was a great decision for stopping the flow of black money and corruption. I think it was a just first step to remove the corruption and black money which was taken by our government but the main thing is that if we will not change anything will be changed. So it is our responsibility to stand with government's right decision.

Banning 500 and 1000 rupee notes were like a changing clothes. As our respected Prime Minister Shri Narendra Modi took a decision of demonetization on 8th nov. 2016 at the evening.

But according to me, nothing is changed. Only common people suffered and those who were corrupted they exchanged their money by buying gold or did investment in properties.

The Government decided demonetization to reduce the level of corruption but it doesn't seem like it worked.

To find corrupted people common people suffered although they weren't a part of corruption. In search of ruin, spoil, dirty and big fish government take out the whole water from the lake and the result is small and healthy fish also died because of the scarcity of water. The Government should think about common and rural people.

Hello friends.

I think it was the great decision by the government although it will take some time to see results of demonetization.

- According to news Rs 3 lakhs crore has been submitted to banks as black money which was not accounted, recently around 13000 bank accounts details have been giving to the government and they are taking appropriate actions against them who had the black money.

-Many people have disclosed their income after banning notes of 500 and 1000, now they will come in the tax circle who were not paying taxes earlier or paying less tax as much they had to pay. Till now only 1. 5% people of India were paying income tax.

- The fake currency has been destructed and terrorism and illegal businesses were running because of a huge black money and fake currency have been destructed and become useless.

- During demonetization many people of India have started doing cashless transactions who were frightened before for using digital transactions, it will be very beneficial for making India cashless economy.

Corruption uprooted to some extent.

Don't you guys think that if the people of our country do not support initiatives taken by the government, it will always be in a dilemma to whether take more initiatives or not?

We all know that it was a very good initiative taken by the government maybe its implementation was not good but how many of us recall similar initiatives taken by the govt in the recent past. I bet not many or may be nil. Banning old notes and introducing new ones is a very courageous step in trying to remove corruption.

"Something is better than nothing".

Hello everyone.

The process demonetisation is one of the effective processes to cover and get back all black money. Finally, we have seen nothing changed. It was initialized in the Congress ruling time but not implemented. There was a big voice against the demonetization when Congress ruling time. Even Mr Modi tweet this does not favour in our country. But currently BJP govt Mr. Modi implemented the demonetization of banning 500 and 1000 rs notes. The intention might be a good way. There was quote Mr. Manmohan added after the failure of this process. Bz everyone pointed out this process was initialized by Manmohan period. He said there was different the major operation who done by doctor or compounder. But the implementation happened really worst. It should not be harm peoples. The govt should think about the peoples who are living in India. But it's really hit middle-class families. We have seen almost 1 km to 2 km peoples are standing in the queue to withdraw their money. No one can be seen high-class peoples standing in the same queue and so many places Latti charged by police. It's clearly saying there was a loophole in the process before implementation. As my opinion, it's just changing clothes.

Hello friends,

Demonetization of 500 and 1000 notes was a good initiative but not a pre-planned process. Banning high currency notes created currency shortage for every citizen around the country. Making the entire population to stand in front of the banks, if it is a planned activity then measures will be taken in advance to handle the problem. The people sufferings which were published in the news articles, social media and others prove it is completely an unplanned measure taken by the government. Neither of the black money holders name published yet, though they got a list of names from Swiz bank.

The main reason behind according to government is to curb black money, money laundering activity and terror funding. But in actual through these initiatives by the government lead to downward growth in GDP and took a long time to restrain its position. Through this process the only advantage is taxpayers increased, digital payment is perceptible. It's up to the decision makers from the above points it's uprooted or changing clothes.

Thank you.

Hello, everyone.

In my view, banning 500, 1000 notes can't uproot corruption. Because no tax evader or black money holder interests to keep money in a bank locker. They will immediately keep their money in some business or on binamis or they convert money into foreign currency or even gold or some material form.

Of course I do agree that more than 80% of money in circulation are these banned notes. But they are in circulation among people but not with the tax evader.

Even if some people carried money we had seen news they got a suitcase of 2000 rupee notes while a common man was suffering to get a single 2000 rupee note.

So again the respective officials are far away from ground reality.

Finally, corruption free society can only be achieved by changing mindset of the people who give bribe for their own right.

I think one effect that de-monetization saw is uprooting corruption to much extent. India is a vast country, so corruption also comes in that big size. And expecting that being uprooted in one go is unfair. A big section of the black money in India is in form of 500/1000 rupees notes, thanks to corruption. So banning these notes is, no doubt, a revolutionary step, by which black money holders were bound to unfold their money. We saw a series of headlines stating a huge amount of black money being seized by IT department. All this was possible only due to the ban of 500/1000 notes.

One more thing that can not be neglected is the boost to the digital economy with de-monetization. Promoting cashless economy is another hit to corruption.

Summarising it all, I would say that corruption is a very big, deep- rooted problem of India. Ban of 500/1000 rupees notes is just a small but effective initiative to uproot it. Expecting complete uproot of the corruption is unfair. We are surely going to see several more steps against corruption, some of them already being implemented are limiting cash transaction to 2 lacs, seizing of benami property etc.

According to me, demonitisation had both merits and demerits.

Merits:

It reduced the corruption in our country.
It helped India to go cashless.
There were programs like Pradhan Mantri Garib Kalyan Yojana and Jan Dhan which helped the economically backwards societies. But just like a coin has two flip sides detoxification too had its demerits.

Those being.

First of all, the programme was not well planned.

There were huge lines in front of atm counters and many deaths due to the rush.

It is easier to keep unaccounted 2000rs cash since more money can be kept hiding.

People in rural areas were most affected since most people there have no access to atm cards.

Hence in my opinion detoxification had its own merits and demerits.