Demonetisation has reduced the Corruption, Black Money and Terrorism?

Demonetisation is a good step which was taken by our prime minister Narendra Modi.

It decreases corruption. It decreases black money. It decreases terrorism. We should support them. We will get benefit after a long time. We learn about digitalization?

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I do not agree with this point that demonetisation decreases corruption, black money, terrorist activity. Because politics is responsible for that. Many politician support black money and terrorism. This is the main problem. Demonetisation decreases corruption but sum people think for their own. And many middle class people have faced many problem.

I think, demonetisation has reduced the corruption, black money and terrorism also. And it increase digitalization in the country. But the main motive of government behind demonetisation was to stop the circulating of fake currency which was used by terrorists.

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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.

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I would like to add point that the demonization of money is not reduced the corruption and black money because RBI calculation states that thay not got extra amount on the domonitisaton so it is not mean that no black money is there and also if corruption depends on the black money then it is also not affected by the demonetization but I can say that by donatisation it is indirectly effective to the terrorism because the fake money from the terrorism is avoided.

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.

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.

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.

On 8 nov 2016 the central government announced that the 500 and 1000 RS note was ban. But the question arises that the who will be benefited from it. Great news anchors, expert etc say that there must be corruption, black money and terrorism activity reduce? But as per my views, corruption is going on with new notes of 2000 RS. And if corruption is going on the black money is also depend on it and also terrorism. All of these activities are going on as usual government Officers taking bribery and the terrorist killing our soldiers in J&K and Rajasthan. But after demonization, it will be reduced by 25 to 30%. So, as per my views demonetization has reduced the corruption, black money and terrorism.

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.