Demonetization is the act of stripping a currency unit of its status as legal tender. Counterpart of demonetization is Remonetisation where a form of payment is restored as legal tender.
On Nov8, 2016 our Hon’ble PM Shri Narendra Modi demonetized Rs 500 and Rs 1000 notes. Now the question that pops-up in our mind is why? Why take a huge step such as this? Most people you will ask this question, they will simply say two words BLACK MONEY but is that true?! Think again!! Think Harder!! The primary reason this step was taken because of increased circulation of fake currency in our nation. But yes, bringing out the black money and to know the actual flow of currency in India are the secondary reasons.
The result of demonetization is already foreseen and the primary objective is already completed. Brawls in J&K have stopped, Maoist attacks have reduced. Furthermore, any kind of brawl or protest across the nation has reduced to almost nothing. Even black money is also coming out thus actual money circulation is also observed.
There is a saying, "where there is good there is evil”. In this fight the common man is the one who is suffering and struggling the most, he is the one who is getting squeezed in between but he is also the one who is giving all he can for the better India, for the better tomorrow.
People are not just suffering and struggling but they are dying too. There have been cases of farmers committing suicide. Not only in rural areas but in urban areas too, people are committing suicide. But what is the reason behind this? Is it really due to the demonetisation or is there some political involvement behind this?
Not to hurt the sentiments of the audience but everyone knows how dirty politics can be and how far can politicians can go just to oppose the ruling party.
All these struggling and suffering and the deaths were these necessary? Were these supposed to happen? Why did these happen?
The government didn’t take appropriate measures before banning the notes. They just announced the news anonymously. Some are even saying that the decision wasn’t as secret as it was said.
The question remains how will this affect the government? How will it affect the economy of India?
Soon after demonetisation Rupee fell against the dollar. People are even saying that this economic step will lower the economy of nation tremendously, what they aren’t doing is thinking about the situation later. What I mean is people who have loads of black money will declare the money one way or another. There are even CBI raids happening all over India with the positive result. These raids have increased by 300% since demonetisation has taken place. These countermeasures will bring out the black money and obviously increase the money circulation. What we do know is not all of the black money will be declared or come out but some part of it will surely be declared. So we can be positive about it that nation’s economy will improve.
How is this going to affect the government politically? Many of us will say the government is going down in the next election. Ironically, at the end we all are agreeing with the government, we are appreciating the decision. So, I don’t think there will be much political effect.
Most importantly, was this decision appropriate? There is a simple answer for that, how much do we know about the economy, we don’t even know the “e” of the economy. But the government has the officials who know each alphabet of “economy” who are experts in this field. So it is pretty obvious that the decision government took is taken after a whole lot of brainstorming process.
This is just a phase through which the whole nation is going through. We all have to go through this phase together . That’s our part in this race for the better tomorrow of our nation.
What our PM did was just a step in this race for a better tomorrow but we can’t win this race unless we all take one step.
Most importantly, was this decision appropriate? There is a simple answer for that, how much do we know about the economy, we don’t even know the “e” of the economy. But the government has the officials who know each alphabet of “economy” who are experts in this field. So it is pretty obvious that the decision government took is taken after a whole lot of brainstorming process.
This is just a phase through which the whole nation is going through. We all have to go through this phase together . That’s our part in this race for the better tomorrow of our nation.
What our PM did was just a step in this race for a better tomorrow but we can’t win this race unless we all take one step.