Demonetisation has reduced the Corruption, Black Money and Terrorism?

Yes, Demonetisation not only reduced corruption but also changed the way we Indians use to live before it happened. The only opposition to demonetisation was from People who were enjoying black money. Where the poor people had faith in the BJP-led government, they knew their pain and hard-earned money won't go in vain. When it comes to terrorism large amount of black money that was sent earlier saw a drastic change with a downfall. I would thank Gov for taking such a step.

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.

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.

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.

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.

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.

Hi everyone.

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.

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.

Thanks.

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.

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.