Demonetisation has reduced the Corruption, Black Money and Terrorism?

Hello everyone!!
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.

Thank you.

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.

Hi Everyone,

Let's first understand what is Demonetisation.

Under Demonetisation, a particular currency notes circulating in the market are removed and new currency is issued.

It was a very bold step taken by our honourable Prime minister Mr. Modi on November 8, 2016 to rein over the Corruption, black money, terrorism, smuggling and fake currency. Although this decision couldn't be proved as fruitful as expected. It was expected only 70% currency notes of Rs. 500 & 1000 will be returned to bank after Demonetisation but later it was found around 99.3% currency notes were returned. So this proves either there was no black money in the market which doesn't make any sense or people found other way to convert black into white. And after few days of Demonetisation, a no. Of terrorist attack occurred which proves that there was less adverse effects of Demonetisation on the terrorism activities beside this.

After issuing of the new currency, the fake currency notes were caught after a month not only this, the middle man and the poor had to suffer a lot i.e. standing in long bank and ATM queue, limit on withdrawal but somehow it made a big loss to the terrorists, corrupted politician and many more and a bit rise could be seen in tax collection after this, it also helped govt to make a black list of those who deposited non informed money in bank.

So we can conclude that it wasn't only a great but also a bold step too towards reducing the corruptions, black money and terrorism but couldn't be successful as it was expected due to various reasons like improper planning & lack of Strategies, Corrupt bureaucrats and politicians, lack of harsh punishment for the offenders and many more.

Thank you.

Hello friends!

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!

Hello everyone.

Greetings of the day!

First of all, we will see what is meant by demonetization, it is the step by which particular currency notes which are running in the markets are removed and replaced by other currency notes.

Demonetisation is the drastic step taken by Modiji in November 2016 by keeping in mind that it will reduce black money, corruption, and terrorism in the whole country.

Disadvantages of demonetization:

Demonetisation was not very easy for peoples because they were not ready for that. They faced harsh problems.

Small and medium-sized businesses shut down due to this so unemployment increased.

People faced a shortage of cash. There was a big queue for exchanging money.

The government thought that it will reduce black money but 90% of people exchanged their currency notes so there may be 2 causes for this either no black was in the market or somehow people managed to convert it in white money.

After demonetization also terror attacks happened hence there was no logic that by doing demonetization financial support would stop the terrorists.

Demonetisation also couldn't stop corruption as nowadays we are seeing it.

Some money spent on printing of new currency.

It announced in November so in India marriage season was there so most people faced a shortage of cash for that function.

Advantages of it-.

Due to demonetization, people used digital payments mode and still using it so it's good. Hence, due to digitalization in payment government can keep eye on it. It supported the Digital India initiative.

Thank you so much.

Have a great day.

Hello everyone.

We have the most hit topic to discuss here that is 'Demonetisation has reduced the corruption, black money and terrorism.

Demonetisation is a restriction of circulation of money and currency.

Demonetisation was implemented in 2017 by gov in which rs 500 and 1000 note was banned returned to go and that was replaced by 2000 note.

Real facts:
1. It was expected by gov that only 70% of the money will be returned to gov but approx 99 % of the money was deposited to gov. It proves that either there was no black money or somehow black money converted to white money.
2. It was expected that terror attack funding will be stopped after demonetization. But after demonetization also terror attack happened.
3. RBI which supervise the financial sector of India did not agree with demonetization decision.
4. It was expected that tax payment rate will increase,

But as per past data by economist tax payment rate is increasing yearly.

Disadvantages of demonetisation:

1. GDP growth was decreased by 2.2%.
2. Unemployment rate increased, many small and medium scale company shut down their business.
3. Terrorist funding was not stopped.
4. Some money spent on new cash printing.

In my opinion, it doesn't seem demonetization has reduced corruption, black money, terrorism by the survey.

Due to Demonetization, some people tend towards digital payment that is a positive impact. It took more time to replenish losses occurred due to demonetization.

For the financial reform, we must have to take advise from the respective financial sector that is RBI or from the economist.

Demonetization is the best thing that was happened shortly before. Corruption, black money, and terrorism were also reduced at a huge level. Reason for that the storage of black money by rich people or by peoples who drives their businesses without under any governmental licensing authority. Those type of money is only stored and stored for a long time and no any pieces of evidence can be collected by the respective government. Because the hiding of black money can be done anywhere at any place and no records were found for that money. The government prints money but these black businesses make that money black. Hence after demonetization, because of none of the pieces of evidence present for black money, they remain black. And other works like terrorism or any other non-relevent activities that run on these black money were stopped. As we can see after demonetization lots of terrorist attacks fall down because of lack of new currency applied by the government was not present to them and thus they were unable to purchase any weapons by using that black money.

Corruption is a very big scam that followed by most of the government officers each and every day. And the amount that was collected by them does not have any records thus they were unable to recollect that black money from a bank account and these notes remained as a piece of paper.

Online transactions of money nowadays coming forward which will also help everyone to maintain their account history.

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.

Hello everyone.

My name is jagbeer singh bisht.

Today, I am very glad to talk about demonetisation and basically its pros and cons.

According to me, demonetisation was a very great step taken by the honourable Modi government to reduce corruption. By taking this step government got a huge amount of black money and many corrupted people as well who are slowly - slowly eating India like a termite. Politicians who are providing fundings to terrorists support Pakistan also got busted and because of that terrorists couldn't able to get funds and in this way this campaign become successful.

But this campaign wasn't gone too easy as it sounds. It was a very unique and unpredictable step for the citizens of India. We Indians never thought that the Indian government could ever do demonetisation. Actually, we were not ready for it and also because of government's improper planning we Indians faced so many problems or difficulties in living our normal life and I don't think so that I have to talk about the problems we Indians faced in the demonetisation period here.

So, in the end, I want to say that demonetisation was a very big decision which gave us many problems but only at the initial period of demonetisation but after some time it's proven as a very good step and leads our nation a many steps ahead towards "An INDIA FREE FROM CORRUPTION AND TERRORISM".

Thank you.

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.