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

Demonetization is a bold step taken by the Government. This brought an accountability to the money held by people. Even though many people complain that the step failed because people hoarding money were able to make it white by offering commission to poor people, but the point to be noted is that what now everyone have is white money for which they have to pay IT. Now no one can evade paying tax now. The suffering of common man was negligible compared to its benefits in the long run.

I would like say that the demonetization is the big success of the the Government off course it fell behind to adjust with people and people suffered a lot with this changes. If it is well planned and action oriented to the changes it would be a great historic achievement.

RBI announced that the 98% of the banned money returned to the bank. In this 98% of all money it includes the black money also. Somewhere in conversation of this black money to accountable money the poor people got bit benefit of it. We are new born puppies we hope demonetization will give us bright and economical future.

Demonetisation was a bold move and it was intended for good cause of uprooting the corruption and it did in fact help government pulling out a lot of black money and now many people are afraid of collecting black money but it's not the permanent solution because corruption is not stopped definitely not uprooted since as we all people corrupt people are not going to stop by this we are going to take some serious action against corruption for uprooting. But still it was a good decision according to me yes I accept that many people especially in rural areas were facing a lot of troubles but we can't avoid the fact that it did bring a lot of black money out. And we all know that if we want to get something we have to lose something.

I would like illustrating by comparing it example, when continuous conflict is between couple of people it is better to stop the discussion, and analyse what is the reason from starting point,

Similarly Indian govt has taken demonetisation to prevent further corruption, start to get new currencies, and take effective steps.

Demonization was brought into action for several objectives which are:.

1) To curb out black money.
2) To stop the funding of terrorism.
3) To swipe away the fake currency running in the market.

But due to several slacks in the implementation, this step had mixed outcomes. First of all, banning 86% of the running currency without having a single note to replace it was a huge mistake, which made people suffer in lines as we all know. Also, the step was taken around the sowing season, the farmers suffered too but provided they could use old notes to buy seeds and fertilizers.

The government thought that a major amount of black money will come out in the open but the stats say that 99% of the regulated money has come back to the banks showing that only 1% was the black money which is a big failure. People found out loopholes to save their black money by several means. Also, there a big mistake in printing new notes. The new notes were printed in a shape longer than the older notes which made it a tedious task to put them in the existing ATMs for which government had to hire big number of engineers.

But there were positive outcomes too, the demonization led to stop the funding in terrorism because large proportion of money got banned. And the fake currency also got swept away due to the ban.

Demonetization was one among the excellent initiatives of the government because it can help them in curbing black money. By doing so many corrupt people money have been wasted like a heap of rubbish. But at the same time I too think that the idea of bringing 2000 rs note into use is absurd.

Demonetization, it was not the proper decision by our authorities, I think because it was overnight decision and nobody was prepared for that huge decision and even authorities was not prepared for this huge and new decision, and because of this decision people suffer, people loss, and still nothing change.

Demonetization was one of excellent initiative taken by government. It is beneficial for removing black money from our country. This was a overnight decision. But I think its execution disturbed people a lot. According to me its advantages are so helpful for our country economics. But middle class family faced to many problems.

Hi friends, banning 500 and 1000 rupee notes is good step that government has took for to eradicate corruption in our country. By this, the people who are corrupted can be recognized and also the government did that job. Doing corruption is a big mistake. The money which is useful for the people, they are corrupting.

Corruption can never be uprooted completely by such measure as it is a tendency of humans and only a change within ourselves can be a solution.