Demonetisation has reduced the Corruption, Black Money and Terrorism?

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.

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.

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.

Demonetisation was indeed a big step to achieving a society free of black money, terrorism and corruption but the scheme was introduced without proper preparation and it didn't produce the desired result.

Even though it aimed at reducing the black money the new RBI statistics stated 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 ATMs.

But still, this scheme has indeed had some positive effects too. Most people are now aware of digital transactions and people are aware of 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.

Hello everyone.

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.

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.

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.

It appears there are still a huge number of ANDH BHAKTS in India.

Actually, all these posts are written by one or two persons using different names. In order to sound balanced, a few disadvantages have been listed. The reality is that demonetization devastated India and permanently crippled its economy. Poor people were the greatest sufferers.

Indian's can't see that Modi has totally destroyed India. It will take a generation to bring it back to the state where it was in 2013. Manmohan Singh elevated India to a position where India rapidly gained a huge amount of respect in the world. Books were being written on "Emerging India" But the Modi government is not concerned with INDIA. The only concern is to collect money from the poor of India and use it for election campaigns and rallies.

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.

Hello everyone,

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.