Points to remember before you participate in this discussion:
|Madhu Choudhary said: (Jun 17, 2020)|
Today our topic is Demonetisation.
Demonetisation was announced as a surprise in the night on November 8 2016.
In Demonetisation, the current form of money is removed from circulation and retired.
Furthermore, the replacement of this form of money occur with new notes and coins.
The main moto was to curb the black money, illegal activities, funding source, terrorism, tax evasion.
Due to Demonetisation, many people would go cashless. A cash shortage is a natural consequence of Demonetisation.
People face various difficulties in deposition or exchanging the Demonetized banknotes.
Demonetisation was a good and wise action taken by our P. M Modi, it totally changed the way of Indian Economy.
We have seen huge no. Of transaction through Digital payment which makes India Digitally strong.
Real Estate is one industry that runs largely on black money in the Real Estate sector.
Due to Demonetisation, we have seen sharp decreases in GDP.
Many small and medium scale Industries has to shutdown their business.
|Suraj said: (Jun 6, 2020)|
|Hello, I think demonetisation has reduced the corruption, but those political and other rich peoples who have lots of money that people can safe their black money with the help of government, the main problem is poor people face this problem he can come at the bank and change the money, no any type of effect can see in the life of rich peoples, they enjoy their life and save the money.
|Divyansh said: (May 20, 2020)|
Today our topic is Demonetisation has reduced Corruption, Black Money, and Terrorism.
Yes, I totally agree with this. Because there is a good initiative taken by our government for reducing the corruption and black money and Terrorism. This step is taken by our government in 2016. And the whole country are suddenly running to banks to change their old notes, by which so much black money comes out and RBI helps to track the black money all our country and it also reduces terrorism in our country. Finally, I want to say that it is a good initiative taken by our prime minister Narendra Modi that's all.
|Tejas said: (Apr 9, 2020)|
|Demonetisation has reduced the corruption black money and terrorism. I agree topic the days of demonetisation the modi goverment changed the notes or closed the notes 500 and 1000.
That time the people are going to bank to submit the old notes. These way are good to take charge on black money and againest terrorism. And it successful the demonetisation was 2016 is also better for next step likewise digital India make in India.
|Anonymous said: (Mar 3, 2020)|
|The aim of demonetization was to reduce the corruption, black money and terrorism but this demonetization only cannot reduce corruption and black money. We have seen during demonetization 99.4% of the currency was deposited in the bank. Today also the corruption is there, black money is there and terrorism is also there. Every single politician is corrupt in this country. There are many cases charged on many political leaders but they are free.
So, this is the good step that was taken but not with the proper planning.
|Anshit Kashyap said: (Feb 4, 2020)|
Demonetisation was an good and wise action taken by our P. M. It totally changed the way of Indian Economy.
|Nimish said: (Jan 29, 2020)|
|Hello friends. In my opinion, The initiative taken by our respected PM Modi was good but it faced a lot of problems while it was launched. According to me, the demonetization helped RBI to track the black money, corruption also it changed the current notes so that no fake currency will be used in the market as because of that corrupted money the prices of gold, share market was above the average and it was difficult for common person to survive on day to day basis. The inflation was at the peak.
So according to me, the demonetization was a good initiative by the government but the proper arrangement should have been done to stop people from saying the inability of demonetization.
That is all from my side, THANK YOU!
|Vaibhav said: (Oct 16, 2019)|
|Hello, my name is Vaibhav.
With a view to curb the black money PM Modi has announced the demonetization but the plan didn't give any fruitful result.
Because somehow these tax offenders find a way to hide their money and stay safe, that exact thing happens at the time of demonetization, these offenders find a way to hide their money to other personal accounts.
RBI has reported that 99.3% of the money has returned to the bank account.
So, the scheme of Modi government failed and in the recent time we are facing huge slowdown in the economy and every economist is chanting the same reason for slowdown i.e. demonetization and GST and In my view they are right because before the demonetization the money was in the hand of the person and they were spending money and there was huge demand for the product and services, but the all the money in the bank account people are fear to spend they may be caught in the eye of tax administrator.
So right now there is huge demand deficit and demonetization is the big reason for that.
|Vinod said: (Oct 11, 2019)|
|Good morning all of you.
Today we are going to discuss the topic of Demonetisation that has reduced corruption, black money, and Terrorism. Demonetisation was a big step taken by the PM Modi on 8 Nov 2016 to reduced the black money and change the currency notes due to fake notes present in the market.
The effect of this step is different for the different levels of people lower, middle and upper-level people. The lower financial condition suffers very much by this step, if I am taking the example of a labor person who work for a full day to earn some money, I was standing in front of the bank for money.
There is no proper arrangement to change the currency notes.
Firstly people go to add money to the bank then again to debit the money.
Small scale business was a flop due to absence to money.
Some positive point of demonetization is to improve the banking sector, reduce corruption, a step towards digitalization and many other benefits.
In the end, I want to say that India is a big country, it is difficult to take any step for the country along with the comfort of all peoples, we have to understand this and support the steps taken by our leaders.
|Guru Prasanna said: (Oct 2, 2019)|
|In my point of view Demonetization was a good process but didn't implement in a proper way.
PM tried to eradicate the corruption and terrorism but it wasn't successful.
Because rich peoples always find to save their black money.
But it's not totally unworthy after implementation of Demonetization most of them are started using online transactions that was totally under government sight.
We can't blame for Modi that Demonetization failed to Eradicate the corruption and terrorism. At-least we have to Appreciate his effort for taking this Big step for the sake of our country.
If it was implemented in a proper way means it should be the best thing that Modi have done.
|Raj said: (Oct 2, 2019)|
|I'm Raj, this topic is a sensitive topic in current days we need to discuss about these kind of topics.
As a coin has 2 faces, demonetization is also having it's own pros as well as conses,
Our Respected PM Modi sir, has taken a big step towards Indian corruption, and economic growth. Of course demonetization has reduced the corruption, black money, and terrorism.
A major advantage of demonetization is that it helped the government track black money. Large sums of black money was kept hidden by tax evaders. Demonetization helped government uncover huge amount of unaccounted cash. According to estimates made by RBI, people have deposited more than rupees 3 lakh crores worth of black money in the bank accounts. This has helped the government in slowing down the plague of parallel economy.
A major reason behind demonetization was that a big part of black money was being used for funding terrorism, gambling, in inflating the price of major assets classes like real estate, gold and other social evils. Demonetization is acting as an effective countermeasure against such activities. Now all such activities will get reduced for some time and also it will take years for people to generate that amount of black money again and hence in a way it helps in putting an end this circle of people doing illegal activities to earn black money and using that black money to do more illegal activities.
Another benefit is that due to people disclosing their income by depositing money in their bank accounts government gets a good amount of tax revenue which can be used by the government towards the betterment of society by providing good infrastructure, hospitals, educational institutions, roads and many facilities for poor and needy sections of society.
When someone doing something good for our nation that's our responsibility to support him! And we should be ready to face small problems to avoid big trouble in future.
|Rasool said: (Sep 29, 2019)|
The idea of the Demonetisation was good but it wasn't implemented properly. At that time, only common man faced the problem by standing in front of ATMs, Banks, and other economic organisations. I did't saw any of the politician, Businessman.
|Asa said: (Aug 30, 2019)|
|Demonetisation means to stop the corruption and black money that's why this step was taken but no any results have been got by this step because it's having more time in order to give good results definitely it will give benefit to people and we should support it and keep patience. And it has reduced terrorist attacks and also it was the greatest admirable step which was taken by PM Modi.|
|Sudeep Babu said: (Aug 22, 2019)|
|In my point of view, it reduced corruption due to online transaction, before demonetization no one knows paytm, phonepe, Gpay etc, after it increases digitalization. Not only digitalisation illiterate people knows the using of online transaction. So, many new bank accounts are opened to credit currencies. It is an easy way to track the corruption and tax in banks of-course they are slight drawbacks due to the increase of hacked account for these payments, failed transactions and as well as net should be available to make these transactions.
According to RBI, 99.99% currencies are returned, black money was not reduced it is still in the form of assets and liabilities.
|Mj Akhtar said: (Aug 20, 2019)|
|Demonetization was a step taken by the Indian government in order to stop black money transaction. The intention was good but not implemented in the right way. We didn't discuss this idea with RBI about what can be its consequences. We were not so farsighted about its effect.
We have seen many corruption scandals after demonetization, Pulwama attack happened. So can we say that it was effective to reduce such types of evils?
Another thing is that after demonetization those who had black money, they bought other currency as other countries have more time to return old notes and after stability bought Indian notes.
|Simran said: (Aug 12, 2019)|
Demonetization is a bold step implemented by the NDA government to cover 5 major aspects of INDIA and its economy.
1. To control black money.
2. To control fake notes/currency.
3. To control corruption.
4. To control terrorism.
5. To increase tax collection.
As demonetization is failed to control black money according to the report of rbi 99% of black money remain uncovered as they are in the form of assets and liabilities.
It is very much successful in controlling and removing fake notes from the Indian economy.
This is also helpful in corruption control but not that much success because of less availability of printed notes people refused to take online transacted money because all the transaction is properly governed by the bank and so because of this reason terrorist also remain calm and avoid the online transaction.
As per the report of income tax department tax collection become double in this 2 year.
It also has some negative impact as people have some times suffer from the lack of money but we can't ignore its other side so it is well accepted by Indian citizens.
|Abhijeet said: (Jul 29, 2019)|
The NDA government under Narendra body took A bold step of demonetisation mainly to cover 5 major aspects. They are;
1. Control over black money.
2. To control the fake notes/ currencies which was travelling all the way in the Indian economy.
3. To control corruption.
4. To control terrorism.
5. To increase the tax collection.
The concept of recovering black money was failed. According to the recent RBI data it was clear that 99% of the black money remained unrecovered. The failed in this section because they failed to recognise that that the most of the black money are not in the form of currency rather they are in the form of asset and liabilities.
After the demonetisation, the government was successful in controlling the fake currency travelling in the Indian economy.
The corruption has devastatingly reduced as due to the unavailability of the printed notes. the corrupted peoples refused to take the money in an online form as the whole data was governed by the government. Talking about the current scenario the corruption has just changed his clothes but it is still in the economy.
Due to unavailability of notes the terrorism terrorism has either stopped or had became calm for sometime. The online money transfer data is well governed by the banks so there is no terrorism issues on big scale as it was earlier. But it has not completely vanished.
The government was very much successful in increasing the tax collection like the recent reports that tax collection has been doubled.
Although there is a more negative impact of demonetisation as compared to positive impacts as people had suffered a lot and bank employees have to work a lot of hours late night in the and the bank. due to the unavailability of the notes the people were failed to purchase their daily regularities .but although there is a problem, the people of India supported demonatizatiob.at the same time it provides a new time new journey for the digital payment apps which supports the economy.
Finally, I want to say that the demonetisation was not a successful step but the Peoples of India saw a bold and powerful Prime Minister Who has the capability to take decisions in the favour of the citizen.
|Sanya said: (Jul 18, 2019)|
|No, demonetization didn't reduce corruption.
Narendra Modi took a bold step to reduce the black money from India but it failed. Despite people faced many problems due to the lack of money being exchanged and withdrawn. It couldn't eradicate the black money because people took bribes and didn't let the government know about the black money. Due to demonetization, moblinching occured over the world and many innocent people died. Many weddings were postponed due to lack of money arrangement. There was a huge loss to the businessman for 2-3 days as 500 and 1000 rupees old notes weren't accepted.
At last, I would like to say don't see others if they are corrupted do your duty from your soul as a single person can change India if determined with his work.
|Divya M said: (Jul 17, 2019)|
|Hi, Everyone, according to my view, I will say it was a very brave decision in the history made by PM Modi by going against many people just for the sake of our country, to demolish the corruption and terrorism.
Yes, there were problems faced by common people but it's our duty towards India. And yes there was another point that corrupted people found another way to keep their black money with them. So, therefore, the decision was not so successful, proper planning was needed for obtaining the best results.
After all, it is our duty also to be faithful towards our country so that, we can say India is a developed country instead of a developing one. Thank you.
|Bhanu Partap Negi said: (Jul 10, 2019)|
|Demonetisation was one of the biggest step taken by NDA government on 8 Nov 2016 headed by PM Narender Modi. PM said it will help to reduce the corruption, black money, and terrorism. But did not follow the same way. The result was totally different from the expectation. People suffered huge crisis for long time. Small and medium class businessman were unstable and closed their business. Because there was no money in the market and it was impossible for common man and purchase some items from the market. Even some marriages were cancelled. It was the most disastrous time for those people who earn and spend on a daily basis. Our economy as facing high downfall at that time. So, I think it was a rediculous step taken by our PM Modi. So finally demonetisation is not suitable for the nation whose 60 % population is below the poverty line and it does not less the corruption, black money and terrorism as RBI and other organisations reports are concerned.
Thank you guys, I hope you like my opinion.
|Meet Patel said: (Jun 28, 2019)|
|According to my view, demonetisation was started with good vision for curbing black money, reducing terrorism and increasing the digitalisation of the economy but it didn't go in that way.
If we look at the RBI annual report it was the failure people had to suffer a lot in long question for money.
Also, around 99% of Money was back to the banking system that would result in the failure of curbing black money.
Also, every day we saw that no drop in stone-pelting and Naxalism achieved.
No big black money holder arrested.
|Sruthi said: (Jun 22, 2019)|
|Good morning friends,
Today our group discussion topic is about "Did the Demonetisation has reduced the corruption, Black money and terrorism?". According to my view I don't know wheather the corruption is increased or decreased but presently it is there. Our prime minister Mr. Narendra modi has bought the concept of "Demonetisation" in 2017 december that he wanted to eradicate the corruption & black money, he implemented suddenly at overnight. After demonitisation up to now the government is still finding old 500/- &1000/- rupees notes in CBI ridings. But this concept has effected mostly on politicians and for the people who are preparing duplicate currency. At that time demonetisation it is very trending topic to all of us. So, many are caught with black money. It is very innovative idea which is implemented by modi.
In the politicians point of view they needed to have black money & terrorism that's it. They got ministry through people, they has elected by them but they won't think about the people & society. Hence, it is waste of effort to implement such factors. Again in those situations also the normal people will be punished & the people who are rich will have no pain they know how to convert their currency to black money in all the critical situations.
|Karan Sina said: (May 25, 2019)|
|I agree that we faced issues when Demonetisation took place but it benefitted every single individual. We can wait in queue for movie tickets but we started complaining when it comes to Bank. It has reduced corruption and also scammed black money. If it was done with proper planning then it would have been failed because the rich individuals would have known how to get rid from the scammed amount and the jewelries. It was a great initiative and a great step towards success.|
|Rakesh Kumar Roy said: (May 9, 2019)|
|Hello all good evening to all of You,
Whatever my idea says, that demonetisation has not the great impact over the cruption, money laundring, and black money. Not a single rich man was in que. Only we the medium class and poor people were in que.
All the currencies what ever in ligitimate were return back to the RBI. Data says verry few nos of notes were left to recover. So, how can we say its played a pevotal roll. It was only the cost of the life of poor and sick people who lost his life in hospital, and que. Small bussiness man verry badly impected by this step. Lastly I would like to say in mypoint of vew it was the regrous effort has shown by Indian government bank otherwise it would have failled to comeback and survivel of poor people.
|V Sai Prasanth said: (Mar 17, 2019)|
|Good morning one & all.
Now, I am going to talk about demonetisation reduces the corruption of black money in 2016 those who are having black money that can be detected from government and it plays an important role in the demonetisation currency is not only the reason of corruption black money and terrorism. Politics also matter in these big situations. I hope this corruption will not be improved in our country. Thank you.
|Prasanna M said: (Feb 28, 2019)|
According to my point of view, demonetisation is not successful in reducing the corruption black money and terrorism because nowadays also corruptions in so many government offices and some peoples do not pay tax for all amounts they earned because of this demonetisation is not successful it is continuing according to the previous year.
Demonetisation changes the 500 and 1000 notes it does not stop storing black money and it helps to rich people because demonetisation introduce 2000 notes it helps to carry compare to 1000 notes.
According to my point of view, the cashless transaction is the best way to reduce corruption and storing of black money in the country.
And definitely country achieves high GDP compare to other countries.
|Rishi Pandey said: (Feb 8, 2019)|
|Demonetisation , a step taken by the NDA government on 6 nov 2016 and the main idea was to flush out all the black money from the country which were circulating in the form of 500/ 1000 notes . So the biggest question arises that does it commute the corruption ,black money and terrorism ? So, acc. To me in some perspective it helped a lot in improving the scenario of the country but on the other hand it not served as expected because people had suffered by standing in a queue for several hours specially the rural areas people . When people were suffering rich ones were not worried beacuse of there eminent position . Implementation of demonetisation also gave the chance to legally convert their black money into white. The main purpose of demonetisation was not in favour due to lack of support of RBI , improper planning ,poor infrastructure etc.
RBI clarify that the they haven't received a single penny of black money . Instead they have invested 7000 cr for the printing. Though one amazing thing happened after demonetisation is that concept of cashless economy and digital transaction .
|Mukesh said: (Jan 8, 2019)|
|Demonetisation means to stop the corruption and black money that's why this step was taken but no any results have been got by this step because it's having more time in order to give good results definitely it will give benefit to people and we should support it and keep patience. And it has reduced terrorist attacks and also it was the greatest admirable step which was taken by PM Modi.
|Aditya said: (Jan 7, 2019)|
|Hello, I am glad to attend the group discussion program about black money and terrorism prevented by the demonetisation of money.
Its a good initiative of government that was fastly circulated the money. Ant prevents the saving of taxable money. For this flow of money take place.
Many noble causes behind it but it was not fully successful. Behind the reason.
1. Not a proper plan of government.
2. Lack of support of RBI.
3. Less support of common people.
4. Delay of working steps.
5. The flow of atm money not prevented.
That why the plan to break the terrorism is not so successful.
|Shiva Kumar said: (Dec 30, 2018)|
|Firstly, I would like to say regarding demonetisation is a good step to put forward by the Indian government to remove the big notes such as 500, 1000rs from circulation to the Indian citizens. As we know demonetization not only implemented in 8th November 2016 but also in 1946, 1978 years so in India economy in order to reduce the value of the money which is bulk under the storage without any circulation there is a shortage of paying the tax to government so the Indian economy sink badly due to this black money, corruption it mislead by this there is a chance of terrorist take advantage to down our GNP to next level so I prefer demonetisation is a better step to overcome all these factors.|
|Vivek said: (Dec 25, 2018)|
|Hello everyone !
I m glad to take an opportunity to initiate the group discussion.
Today our discussion topic is "demonetisation has reduced the corruption, black money and terrorism".
It is a current relevant topic.
As per my opinion, the concept of demonetisation is very good for reducing corruption, black money and terrorism because whole money which is in form of old notes is present with each terrorist but as demonetisation occur he/her failure to do any activity.
But if we discuss in respect of Indian demonetisation it is failed because of.
1. Improper planning - there is no planning for travellers, weddings and small-scale industries perspective.
2. RBI does not include in the planning stage.
3. Improper implementation.
4. Lack of infrastructure of updated atm in the whole country.
5. Due to done currency exchange by many bank officers.
But there are some advantages also seen by demonetisation.
1. Digitisation capture high-speed growth.
2. India is being ready for the cashless economy.
|Sohel Qureshi said: (Dec 23, 2018)|
|Demonetisation was the good step taken by the honourable prime minister Narendra Modi in order to reduce the black money. This is the third time demonetisation happened in India. But the implementation was not good, as a lot of common peoples faced problems instead of corrupted peoples. This was a very tough period through which many common peoples had gone through. No doubt it reduces the corruption and black money which was very necessary for our nation to make it developed.
So according to me, every decision should be taken with proper arrangement and implementation.
|Chinni said: (Dec 10, 2018)|
Today our topic is about demonetisation. It was announced in 2016 by our prime minister narendra modi. It is mainly introduced to reduce the black money. Many politicians have a lot of black money. By this scheme lot of amount of black money has recovered. But middle class and poor families have suffered to exchange their notes. In banks there was a big que moreover they had to stay a lot of time in que. By this scheme corruption has reduced to some extent. Because politicians are scared to keep money with them. But it did not reduce the terrorism.
|Ashoke Maheswari said: (Dec 8, 2018)|
|PM Narendra modi led government made the whole India to dream of many enormous transformation starting from end of black money to stop of terrorism but not a single claim could be turned into reality.|
|Akash Thapa said: (Dec 4, 2018)|
|Demonetisation was a good initiative by the Modi government.
But the advantage of that initiative taken by the rich people. The ordinary people just get long standing in a queue. Among all of them old people also had been suffering demonetisation and get nothing. PM Narendra modi have said that he could change corruption by this move but I don't see any single change. Terrorism still like before and corruption also like before.
|Rony said: (Dec 1, 2018)|
|On my point of view, demonisation was the great action ever because due to demonisation there several change having in our country major case is.
Corrupt people suffering and many cash has been wastage in drain rever and terror-free now.
Terrorist went cashless due to this decision.
Like a great country interest, the common man has to suffer. It was our duty. Time will never stop its gone. Which done its done. Some people told here nothing happens due to demonisation I think its totally wrong. Pakistan inflation now the best example for demonisation. I will salute and admit that decision by govt was totally best for common people.
|Rohit said: (Nov 5, 2018)|
|Demonetization was one of the foolish steps taken by the government in the complete history of India.
Speaking realistically from reports released by RBI and other economic experts demonetization only had a negative impact on the economy of India where RBI invested nearly 7000 Cr extra in the printing of new currency notes and without retrieving a single penny of black money.
It was the common people who suffered the rude behaviour of bank staffs, standing in lines for hours and some of them even losing money as they were unable to deposit money in banks.
Time and effort consumed in demonetization yielded not zero but negative results. This is the truth.
|Divya said: (Oct 25, 2018)|
|Demonetisation means replacing the current currency notes with the new notes. It reduces black money fake currency and all other terroristic activities of malpractice. Actually, it is a good step towards the nation, it is the third time of demonetisation in India but in my view the implementation of this is a big failure. Many common people suffered a lot than the corrupted persons.
In this process, I never saw a person who is rich standing in a line outside ATM's or banks but a common person did.
Many people with the help of bank officers convert their black money into white legally without any difficulty.
So, please before implementing anything design some effective steps to avoid difficulties.
|Gopi Nath said: (Oct 22, 2018)|
|Good morning friends, this is Gopinath.
Actually, the idea of demonetisation was a good step taken by the NDA govt towards the eradication of black money as well as terrorist activities of Malpractice. But according to me instead of rooting out the black money it gave an opportunity to many bureaucrats to transform their black money into white legally. Common man couldn't get any benefit from the plan but suffered a lot in getting money from ATMs all around the country. In addition to this the RBI didn't get any excess amount as black money.
Many politicians coupled with bankers perverted the system and misused it for their own objectives.
But at some places, it's worked out and recovered some black money and put a hold to the producing of fake notes but eventually, the project demonetisation couldn't meet its objective.
|Manish Kushwah said: (Oct 21, 2018)|
|Demonetisation is a good step which was taken by our prime minister Narendra Modi.
It decreases corruption. It decreases black money. It decreases terrorism. We should support them. We will get benefit after a long time. We learn about digitalization?
How to use atm card, we can buy anything by Paytm?
|Swaminirmalk said: (Oct 15, 2018)|
|I do not agree with this point that demonetisation decreases corruption, black money, terrorist activity. Because politics is responsible for that. Many politician support black money and terrorism. This is the main problem. Demonetisation decreases corruption but sum people think for their own. And many middle class people have faced many problem.|
|Nirmal Swami said: (Oct 15, 2018)|
|I think, demonetisation has reduced the corruption, black money and terrorism also. And it increase digitalization in the country. But the main motive of government behind demonetisation was to stop the circulating of fake currency which was used by terrorists.|
|Aryan said: (Oct 15, 2018)|
|Good Evening everyone.
Demonetisation was started with good visions but I think it didn't go in that way. If we look at the procedure and the results, both were the failure. People had to suffer a lot for the demonetization. People had to wait in long queues for money.
Digitalization was not yet that active, so people need cash money to buy something and just 2 or 4 thousand of cash was not sufficient. I think digitalization should have been done before with a good margin of time so that people had started accepting digital money and have good knowledge about that, how to use it.
Coming to the result, demonetization has promised to take back black money but if we see the data it can be concluded that the loss due to demonetization is more than the positive results that were to come.
|Pavan said: (Oct 7, 2018)|
I would like to add point that the demonization of money is not reduced the corruption and black money because RBI calculation states that thay not got extra amount on the domonitisaton so it is not mean that no black money is there and also if corruption depends on the black money then it is also not affected by the demonetization but I can say that by donatisation it is indirectly effective to the terrorism because the fake money from the terrorism is avoided.
|Priyabrat said: (Oct 3, 2018)|
|Since the NDA government has come into power, one of the unprecedent & abrupt decision was taken by our PM Narendra Modi to nullify all the old 500 & 1000 denomination notes overnight. It's been two years that the demonitisation took place. Although it's primary objective are mainly to flush out all the black money from the economy which is circulating in the form of these notes. The second objective is to stop the terrorist financing in our country. The situation arises due to this overnight withdrawal of the notes are patheti. People had to stand in the queue for a long time and theb situation prevailed even after 8 or 9 months. Due to shortage of liquidity people had to postpone many important events and they faced a lot of problems. Not only commoners but also bank employee had also executed overtime for 2 or 3 months.
All that sufferings sounds nice and would become fruitful if the black money which are circulation can be retrieved. But, the recent data revealed by RBI shows that about all the notes which had been cancelled have returned to RBI. So where all black money go?In this context, the step seemed to be extremely futile and meaningless. Moreover extra money has been spent to circulate new notes. So. This only increases monetary burden on government which in turn actually be passed over public. Does it worth it?
So, I don't think that demonetisation will bring any fruitful result through its agenda.
|Ravi said: (Sep 25, 2018)|
|Demonetisation was a good step taken by our honourable prime minister Shri Narendra Modi on 8 Nov 2016 to reduce the corruption and black money and terrorism, under that Rs 500 and Rs 1000 was no longer legal tender.
And I think the demonetisation has achieved its objective so far, the first objective was the elimination of black currency and no doubt black money has been eliminated from the market because according to data only 86% of total notes were collected by RBI. And the notes which were used to supply to terrorist has become reduced for their purchasing of guns, bombs etc. Now government are more focused on the cashless economy, digital India etc. So now the government can keep the record of any people which are purchasing anything, so there is no scope of fraud and corruption. There is a huge increase in the number of the taxpayer after demonetisation.
So, overall we can say it's has achieved its objective.
|Nana said: (Sep 15, 2018)|
|Demonetisation has reduced the corruption, black money & terrorism to some extent. But it is not possible to remove it all. Even for a simple government job they ask for money to employee people. The mindset of the people should change to remove it all. If all citizens work together then I think it is possible to make demonetization work to remove it all.|
|Tanmay Bhadauria said: (Sep 10, 2018)|
|On 8 nov 2016 the central government announced that the 500 and 1000 RS note was ban. But the question arises that the who will be benefited from it. Great news anchors, expert etc say that there must be corruption, black money and terrorism activity reduce? But as per my views, corruption is going on with new notes of 2000 RS. And if corruption is going on the black money is also depend on it and also terrorism. All of these activities are going on as usual government Officers taking bribery and the terrorist killing our soldiers in J&K and Rajasthan. But after demonization, it will be reduced by 25 to 30%. So, as per my views demonetization has reduced the corruption, black money and terrorism.|
|Lakshmi said: (Aug 30, 2018)|
|Demonetisation was indeed a big step to achieve a society free of black money, terrorism and corruption but the scheme was introduced without proper preparation that it didn't produce the desired result.
Even though it aimed at reducing the black money the new RBI statistics stating that 99. 3% of the 500 and 1000 rupee notes have been collected back clearly shows that the intended result has not been achieved by the government.
The major problems due to demonetisation were faced by the middle-class people because of the lack of new currencies in banks and ATM's.
But still this scheme has indeed had some positive effects too. Most people are now aware of digital transactions and people are aware of the banking services. And hence supports the digital India campaign.
So, even though demonetisation didn't have the desired effect on the economy but still it has had some positive impacts too.
|Khushboo Singh said: (Aug 29, 2018)|
|According to me, this step could be a good plan but it just happened without proper preparation. As a result of it middle and lower class people suffered a lot. And the main reasons are-.
1) demonetization took place in November, in which most of the Indian marriages are organised. So people could not understand what to do now because of long lines in banks they suffered a lot.
2) no sufficient printing of new currency at that time.
3) ATMs were empty mostly at that time and long lines in banks. It wasted time a lot. People had to suffer a lot for their money. So acc to me, firstly there should be proper new currency providing facility first then demonetization should take place.
The main reason for this big step was curbing black money, abolishing corruption but it failed in it to some extent. Like corrupt people converted their black money into white by putting it in other middle-class people account by just giving them a small amount of money.
Demonetization has some positive points also.
1) it increases digitalization in the country. Now we are about 5 years ahead in terms of technology.
2) people get to know the basics of online payment before it they afraid of doing it.
3) due to increase in online transactions the government will be benefitted too because it can keep eye on corrupt people.
Thank you very much.
|Payal said: (Aug 29, 2018)|
|Demonetization has reduced corruption, black money and terrorism to a certain extent. The main motive of Indian government behind demonetization was to stop the circulation of fake currency which was used by terrorists, to track the amount of black money in the country and the people who own it. A huge amount of money has come back to the government in the form of 1000 and 500 rupee notes. Also, in a number of bank accounts there was a sudden increase in balance which indicated black money. The entire fake currency which was in circulation in the form of 500 and 1000 rupee notes came back to government thus reducing terrorism. Also, since money was gone into banks and people were cashless so all the transactions went online thus bringing transparency and reducing corruption and black money. But people are always able to find loopholes and same happened in the case of demonetisation. Wealthy persons used accounts of other persons like their drivers, accountants, etc. Corruption is still there in the form of frauds, black marketing, etc. Black money can still be found and terrorists can still find ways to attack.|
|Arpita said: (Aug 21, 2018)|
|Demonetisation, One of the biggest step that had ever been taken in the Country like India, where it is required mostly. First we should appreciatye our Prime Minister for taking such a big step at the bigger level. Did corruption highlighted the most in Modiji era only?Did it was not there in India before?
But only coureagous people have a great things to do.
Coming to success of Demonetisation, I think it lead to some changes definitely. People are little bit aware about banking services now. Linking every individual with a bank account that was the basic intention behind the scheme.
Helping in reducing corruption, terrorism, black money, etc. Roots of these evil are deeply spreaded in our country. Single scheme cannot be expected to take out such roots away from ground.
Instead of criticizing, we should appreciate and expect for another step in this direction.
|Ayushi Shrivastava said: (Aug 20, 2018)|
Demonetisation is a very noble step taken by our Prime Minister Modi to mitigate corruption, black money and Terrorism. But the predicted consequences of the demonetisation scheme have been reversed. Let's first look at how demonetisation intended to curb these evil things and then how all these visions failed. First, Corruption: The scheme visioned that corrupt people will fall into an impasse, they'll have no way out than to lose the black wealth that they have. But on the contrary, within a day or two, brokers came up from all over the nations, perplexed blacl money holders negotiated with them and thus got their black money settled somehow without completely losing it. That's how we can see that demonetisation has just led to redistribution of black wealth! Corrupt are still corrupt and black money has converted to different superficallly noble-looking forms. If I talk about the terrorism, our PM thought that gangster association will die out of money after demonetisation. Areas of pakistan under gangsters have fake currency had their major source of income. Abolishing 500 and 1000 notes would surely get them short of money. But introducing 2000 Rs new notes, is that an intellectual decision? Not at all. It didn't take gangsters to start printing fake 2000 notes. This is even more dangerous because a room full of fake currency notes now costs double of that filled with 1000 rs notes!. So friends, demonetisation was visioned to be a very profitable scheme for curbing mentioned evils in society, but its effects have been nullified by the supposed victims!
|Kamlesh Katre said: (Aug 20, 2018)|
I read many of the discussion, people put over and I agreed with most of them that our honourable prime minister took a Major step for solving the problem of corruption, black money, terrorism but ultimately we can see it is failed to do so but yes we suffer, mostly middle-class people, but if we see this thing from another aspect, then it force's cashless economy, technical advancement (electronic level). People suffer but they learn how to transfer money electronically, how to use ATM. Thereby it also supports the digital Indian campaign, ultimately when all the money is in the form of electronic currency then there would also transparency and the government can easily put an eye on black and white money, we can't say demonetization removes the corruption but it gives several good sides too and can be seen as the first step for the reducing corruption.
|Ankush said: (Aug 19, 2018)|
|I think demonetization was a good initiative by prime minister to reduce black money and corruption in India. But it was not get succed, not too much corruption in India stop but it also gave problem to middle class family.|
|Shri said: (Aug 18, 2018)|
Yes, Demonetisation is very good decision but still face a problem only poor people so look at that whenever they people go market and purchase any think but currencies is problem also main important is political are no pain to ensure that everyone look and same think to all.
|Payal Agarwal said: (Aug 18, 2018)|
|Good morning to everyone!
According to me, a demonetisation step which is taken by our Prime Minister Shree Narendra Modi is a huge step towards the development of India. As it has not only brought out black money to some level but also reduced corruption as people after demonetisation has moved to digital method for dealing in money to a very big extend. It also lead to bring more money in hands of banks. Although it has some disadvantages too as people have to stand in long queus for change of old currency with new from banks. And alsi banks also had to suffer a lot. But before any big result some difficulties have to handled or suffer from to have better and good results. In turn, to achieve goal (developed India) something have to be sacrificed.
|Himanshu said: (Aug 17, 2018)|
Demonetisation is a very good initiative taken by prime minister of India. It has reduced the fake currencies in market and some black money holders were also exposed during the period. But the common man has to suffer a lot many old aged people died standing for long in queues. There was also a news that a politician distribute 2 2 lakhs ruppes to public in a vllage of mp and asked them to return in new notes after 5 years. But it was not implemented perfectly. It reduces the cash flow largely in market. "whenever a river is emptied from water the crocodiles doesn't get harmed rather the small fishes have to suffer. " this was the same result of demonetisation. But I want to say in the end that whenever a surgery is done the pain is there.
|Shreya said: (Aug 17, 2018)|
|What I think is, demonetisation has reduced the black money only. Because people who are involved in corruption are still there. They will do it with the new currency. What we can say is demonetisation has made a temporary change. For some time terrorism would be on halt due to lack of money. Corrupted people will now invest their black money in a better way than saving after this. So, this kind of step only helps temporarily. This is not the permanent solution.|
|Piyush Lohani said: (Aug 16, 2018)|
|Demonetisation reduced the corruption but to the litte extent because many politicians can easily change their black money to white and middle class person are affected a lot for changing their currency.|
|Kanika Munjal said: (Aug 14, 2018)|
Demonetisation, one of the biggest decision taken by our prime minister on 8th nov, 2016. Definitely it was taken for development of India, to reduce corruption, black money and terrorism, etc. But till now not much changes have occurred. Because the biggest problem is that our politicians are induldged in corruption and some of them go hand in hand with terrorists. The change will not come by struggle of an individual, all the citizens should be required to have that great change in our society. Changes have occurred but not on that great scale, this could be achieved only when each citizen will admit its responsibility towards the country. But yes I would like to salute our prime minister for taking such decision and hoping that this ill work in the long run.
|Srikanth said: (Aug 14, 2018)|
|Happy morning to one and all and thank you all for giving my words towards this topic.
One of the major reforms took by our government is demonitisation. It was announced by our Honourable prime minister of India Shri Narendra Modi on 8th November 2016. Due to this reform a small amount of money brought to our Banks. Many politicians and businessmen are identified as sources for blankmoney. After introducing this reform simultaneous amendments are also made in Income tax act. Common people faced many problems during demonetisation period and even for common needs also that revovle around the banks. Even bank staff also helped to success this reform but many bank managers acts as middleman for exchanging black money to white.
After introducing this reform the gdp rate falls and due to this FDIs are also decreased. So in my opinion due to demonetization the economy affected negatively than positively.
So that's it.
|Nadeem Pasha said: (Aug 11, 2018)|
|I disagree with these states as we all know that it affects our economy a lot and GDP rate of our country reduced so much.|
|Muskan said: (Aug 9, 2018)|
|I think it was a huge step of demonetisation taken by our prime Minister. It was all done to reduce the black money, corruption and at some point it worked also. It also reduces the amount of fake currency in society. But we can ignore ignore the fact that how worse the banks situation at that time middle class people has to suffer in long queues. And also the amount of cash has decreased in the market but thinking of bigger picture it has improved our country at some point.|
|Ashika Jain said: (Aug 7, 2018)|
|Good morning everyone.
Demonetisation is a vital role plays in the National building. The demonetisation decision held on 08Nov 2016. The purpose is that reduced the corruption, Blackmoney and reduced the terrorist attack in the nation. This decision was taken because in the market lots of false currency available in the market so this currency helps to a terrorist for making fear in the people of the nation. We know Every decision start our journey and journey have so many good and bad experience.
|Rohit said: (Aug 3, 2018)|
|A healthy good morning to all of you, a small change can provide a big influence in any field, like that demontisation create a big differnce, specially in corruption and blackmoney in our country. It creates a scenario where it restrict corruption at some point like saved black money in different account and so on. But it doesn't create a big difference on some flammable topic like terrorism. Politics of our country is mainly providing platform to internal terrorism. And for this youth have to come forward. So we can conclude that demonetisation helped us in a treamendous way but it is not suucesfull on some big issuses of India.|
|Abhijit Bhaskar said: (Aug 2, 2018)|
|I do not agree with this point that demonetisation decreases corruption, black money, terrorist activity. Because politics is responsible for that. Many politician support black money and terrorism. This is the main problem. Demonetisation decreases corruption but sum people think for their own. And many middle class people have faced many problem.|
|Mahesh Ramchandra Chandaandavale said: (Aug 2, 2018)|
|Good morning sir/mam, Thnaks for providing me this opportunity to talk on this topic.
Definitely Demonetisation has reduced that trio. But we don't say that the chnage happens 100% in our country. Currency is not only reason for the Corruption, Black Money and Terrorism. Polytics is also matters in these big situation. How the polytical leaders are represents your country also matters in corruption. Demonetisation is step towards the reducing corruption. And because of that change happens but that results will be given after some time. It can't give you instant results.
Demonetisation has reduced the Corruption, Black Money and Terrorism?
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