Demonetisation has reduced the Corruption, Black Money and Terrorism?

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 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, 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.

Thank you,

Hello everyone!

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.

Thank you.

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.

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.

Hi.

Demonetisation was an good and wise action taken by our P. M. It totally changed the way of Indian Economy.

JaI HIND.

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!

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.

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.