One year of Demonetisation

           

 
Hello Readers,
    Do you remember who are they? Oh! You must have recalled them. They are the demonetised denominations, which lost their legal tender on 8 November 2016 at 8 PM. Our Hon'ble Prime Minister, Shri Narendra Modi, had taken this step in order to counter black money in the economy. He had asked the whole nation to co-operate him for making this event successful, by ceasing all the black money within our country.

   

 After a month, the country was still reeling under the cash crunch as the bank branches and ATM's were still struggling to meet the cash demands from common people. The demonetisation-resulted cash hit the economy hard, especially in rural areas. The scenario was such that the whole nation stepped outside of home and many also slept outside in order to get some cash, as govt. had made compulsory for all to withdraw only Rs 2,000 at a time from banks or ATM's.  Just before demonetisation, the long queues were made in front of 'Jio's offices and shops in order to get a Jio sim, but from 9th onwards, there were no queues as the had shifted to banks or ATM's. After all, money is more important and when it comes to the hard-earned money and its safety, a panic situation is normal among people.

                              

India is a cash-based economy in which 65% by value are made using cash. While cash is difficult to handle and carry, it has become difficult for the govt. to keep a track of the same. With no demonetisation since 1980's, tax evaders have hoarded a lot of money in their homes, lockers, etc. which was disturbing the economy in stabilizing the rupee against dollar. Adding to this, the fake currency route through Pakistan, which was used for terror-funding and other anti-national activities in India were beyond the govt's. control. It was difficult for the govt. of a country with a population of 1.25 billion to handle various issues. What to say about the stupid stiff opposition, which speaks against India for its political gains. In India only 3% of  the population pay Income Tax and of that 66% files a nil return, India needed to find a route to get better revenues for the betterment of India as a growing superpower.


Today's actual scenario is, people are using social media with the help of which they are able to express their own views by making fun of any issue in different critic ways. Below is a live example of this: