Demonetisation has reduced the Corruption, Black Money and Terrorism?

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.

Greetings to all.

Firstly, demonetisation means changing the currency notes that have value till now to new ones. When Modi became prime Minister black money was a major problem and the government intimated us that measures will be taken on it initially. To demonetize every family should have a bank account so that they are included economically. For that govt initiated Jan Dan Yojna. This ensured most families had bank accounts before demonetization. After this demonetization was initialized. The main motive was to reduce black money, corruption, terrorism and fake notes.

So, coming to the advantages many have bank accounts now and almost all are depositing money in banks due to this banks don't face money issues as before and many can invest and take loans which will increase our economy and the amount of income tax also increases.

But it had more consequences. Many old people were unable to change their notes. Many rich people had given their money to poor people to change notes and some of them even bribed bank officers and changed their black money. Many poor people lost their livelihoods and many died as well. Terrorist attacks increased after this. Black money and corruption eradication has not been done by demonetisation rather it caused many issues to poor people.

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.

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.

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 .

Hi!

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.

Hello Everyone!

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.

Advantages:

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.

Disadvantages:

Due to Demonetisation, we have seen sharp decreases in GDP.
Many small and medium scale Industries has to shutdown their business.

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.

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.

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.