GD Topic: Should national anthem be played in cinema halls?November 21, 2017
GD Topic: Should Bhubaneswar accept odd even rule like Delhi?November 23, 2017
GD Topic: Demonetization was a successful step or not?
Demonetization was a big step by govt. of India on evening 8th November 2016 India demonetized its two biggest currency note i.e. 500 and 1000 rupee notes. It was a sudden and shocking declaration by PM Sri Narendra Modi, now it is more than one year after demonetization. After one year there are many people how supports to demonetization but some are also there who says it was a mistake and not implemented properly. We all know why govt. demonetized 500 and 1000 rupees but we still confused that its success or failure, let’s find out the conclusion of toddy’s.
Demonetization was a successful step:
- Demonetization wan a successful step by govt. of India, demonetization was a solid step against corruption and black money. First time in history any govt. of In India take some serious step against black money and corruption.
- Demonetization was the attack on thus peoples who are keeping the black money after demonetization their hidden currency came out and many accounts are now under investigation.
- After demonetization about 17.73 lakh suspicious cases identified that do not match the tax profile.
- After demonetization, there are Deposits worth Rs 3.68 lakh crore under suspicion. This is a big amount of money which was out of circulation due to corruption now this amount is now back to into the circulation.
- After demonetization, 2.24 lakh shell companies faced the axe. This is fake companies which are just created to convert black money to white money.
- And the biggest success of demonetization is Stone-pelting incidents in Kashmir came down by 75% from the previous year.
- Demonetization was not just a step against corruption it was also a step against terrorism and fake currency.
- After demonetization, there is a rapid increase in r-transaction which is a benefit to keep record maintenance. E-transaction can bring more peoples under taxation.
Demonetization was a failure step:
- Demonetization was a mistake by Govt. of India because it was not implemented correctly. During demonetization general peoples got suffered, the system was not ready and lack of manpower made this step fail.
- Before demonetization govt. did not ready enough new currency which was the main problem, many times banks were out of cash.
- Peoples who were in powerful position changed their currency, there were various loopholes in the currency exchange process which made this step fail.
- Due to demonetization growth rate index came down and price rate in essential commodity get increased.
Demonetization was a step against corruption and black money, it’s also true that due to demonetization people got suffered but when it is about national interest citizen should cooperate with govt. it’s also a duty of citizens. There was no report of violence which make clear understanding that peoples supported demonetization.
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