Demonetization of 500 and 1000 notes which was initiated by our Prime Minister NARENDRA MODI was to corrupt black money and avoid corruption. It effected the rural people the most as availability of banks are least and therefore staying in the queues in front of banks and exchanging of notes became the toughest. Demonetization brought out the people who were having the black money but, not all the people caught. Therefore, we can say that it reduced corruption to some extent. Thank you.
Yes, friends. I want to share my viewpoints about ban 500 and 1000 notes. Especially in my city, it's a very successful act demonization why because of this act most of the black money coming out. Those who are maintaining black money they tried to change their notes. Most of the politicians know about before demonization they already change their notes. Most of the poor people suffered a lot about this act. But this act most necessary successful act. I like this act personally for banning of 500 and 1000 notes.
Hell, everyone, I am Sree.
I think there is no use of demonetisation in our country.
What the govt did after banning the 500&1000rs notes it invented 2000rs notes which is more flexible to store much mone illegally.
Rakesh Kumar Khuntia:
Hello, everyone, I am Rakesh & I would like to share my views & opinions about demonetisation. It was a great way to reduces the black money by banned of 500, 1000 notes made by PM MODI. I think it was successfully applied in all over India. It was making some advantages to our economical & making a step ahead in economic growth. The reason behind that was there was no proper strategy have a government so that the decision of making notes banned is successful.
I appreciate & thanks those helped to govt by facing problem after banned notes in India.
Demonetisation was a very powerful step taken by our government. The decision of demonetisation was taken to stop corruption and black money. High-class businessman and many people earn black money which is illegal. This increases corruption. So to stop this a major step was taken by banning 500, 1000 rs notes. But the situation, now and then is still the same. Corruption is still prevailing and black money is still the major cause of concern. So, for me banning of notes is just changing clothes.
I am Sandeep Amatigoudra. I would like to share my opinion about demonetization. Demonetization is a combination of two words i.e. "de" and Monetization. Monetization is nothing but a flow of currency. Thus reducing the flow of currency called demonetization.
Demonetization is a very good initiative taken by our government to eradicate corruption. But the results would have been much better if it got implemented with a proper planning and the government should have taken necessary measures before implementing. Particularly the poor and middle class people suffered a lot due to this. Surely there will be some negative consequences when such big steps have been taken. Corruption is not an small thing and it is a very difficult task to uproot it. The government alone can't do this. There should be cooperation from the people side too.
Banning 500 and 1000 rs note is a good move in government I appreciate it but the way they implement especially time they implement is wrong. Banning popular money from the entire country one at a time is a bad move. I can say government has not made any plan before implementing it do you know time they did it's night time 8 pm on November 8 even it's day time it would be fine everyone would be aware of it but in night time many people don't know that these money was nothing just paper that is banned and poor people become more poor and wealthy people and people who admitted in hospital people who about to book marriage every one were been affected but people who actually need to be affected just came in car to banks and pick up require money beforehand but poor people or ordinary people stood in a line for a day and go home empty hand as that money are taken by so-called wealthy people so we cannot say that corruption is uprooted but we can say "it's just updated "nowadays we cannot see 2000 rs notes even in banks we don't know where they are but we can say they again become corrupt money aka black notes.
So as per the topic these bans are just changed of clothes but this should have been discussed before implement and my idea would be tested in particular state and see the outcome if that would have worked we would have to make it globally that is nationally banned notes or else make enough preparation and time and camp to change money in this big nation so not India go and shout before a bank and pressure them. That would have decreased the corruption but this ban actually made those wealthy people bag wait for less since for carrying 40, 000 rs at least they need to carry two briefcases but now just they need one briefcase to take it that's the actual difference.
Demonetization was a noble attempt to reduce corruption and hoarding of black money which is detrimental to our growth.
Demonetization has led to the return of money minted by RBI back to banks which is loaned to various businesses and people at lower interest and lead to better growth and development.
The psychological impact on corrupt or tax evading individuals was also great as they have witnessed how their illegal money and greed can work against them by losing the money, paying hefty fees and fear of being arrested.
There was a huge spike in property prices because of part payment being made in black but after demonetization the property prices reduced.
Though people faced huge trouble due to demonetization and the stock market indices decreased but people endured all of this without any Mass protest etc and also the market recovered quickly. It was mostly the opposition politician who spoke against demonetization but there was a lot of support from honest people on the government for it's an effort on curbing the menace of black money and corruption.
However regardless of this corruption has not been uprooted and there is still widespread corruption though it has been reduced by some amount. Also instead of asking for cash and storing it in safe houses, the corrupt are asking for money transfer digitally to Swiss accounts or through various innovative means.
Therefore we can conclude that demonetization did not uproot corruption and it has rather changed it's medium or clothes. However, the move was very bold on part of the government and it has reduced corruption and black money to some extent.
Also, in order to make huge changes in our society, we must play a part by not giving or accepting bribes and collectively educate the masses of the menace of corruption.
In my point of view, the decision of Demonetization was right but the process by the Modiji government is wrong. Modiji wants the corruption free India by with this decision only the middle-class people suffer from:
1) Lack of new 500 and 2000 Rupee notes.
2) Long queues in Bank and ATMs.
3) No proper Planning.
I am not saying that the decision of demonetization was wrong a large amount of black money was in front of us but the middle class suffered a lot.
The main reason for demonetization was to curb black money, money laundering etc.