“ Modi does a Lee Kuan Yew to stamp out corruption in India .” -The Independent
“ How India ’ s currency ban is hurting the poor ” -BBC
“ The plan , top secret until Mr . Modi ’ s announcement , was hailed by financial analysts as bold and potentially transformational for India . It is also a high-stakes experiment ,” -The New York Times
The whole nation received a huge blow on 8th of November . Narendra Modi took a salient decision which had left millions of citizens flabbergasted . The old 500 ₹ and 1000 ₹ currency notes are no longer in use . Like any other decision , it has also received both bricks and bouquets . It was a powerful move to stop corruption , terrorism and black money . Even after few months the act has been implemented , public is still facing trouble with queues in front of banks and ATMs which have only become longer with time . On the other hand , there are a myriad of scandalous persons who have been exposed . Online transactions increased exponentially . The other major benefit is that people have to disclose their income while depositing money in banks . All the tax revenue goes to the government which in turn can aid public by spending it for good roads , infrastructure and facilities for poor and needy . All in all , morals like equality for all and honesty is the best policy are being in effect . Above all , the act of demonetization gave us hope for a better nation .
-Amulya Metku IT-A ( 2 / 4 )
Our government announced a method to sweep out the black money much to the shock of the citizens . More than half of the country supported it but what is the actual purpose of demonetization ? The answer is very clear-to wipe out black money , but is it actually helping the country ?? Again the answer is crystal clear- NO !! Few days ago in mid-December 7 people were caught with bundles of new 2000 rupee notes when actually some people are dying for a single note . Where did these come from is the biggest question . Who is to be blamed ? Are the bank employees the reason for this or the politicians ?? Stating someone wrong is the biggest blunder . Government passed the law but it should also take care whether the act is being implemented properly or not . This is the third time India is implementing this law after independence . The first two times nothing changed then how could the government actually expect to change our country this time . In fact people are more aware and clever now , so demonetization won ’ t affect them much . It is the common citizens who are being exploited . Corruption is still showing its venomous side even when the nation is trying to stop it . Therefore , I feel DEMONETIZATION is a bane for the country . -Shivani B . ECE-A ( 2 / 4 )
With the rate at which corruption continues to rise , it is no surprise that the government is thinking of ways to curb it and the subsequent black money procured . This led to Demonetization , a policy which works towards putting a stop to terrorist activities-funded by counterfeiting current notes-and tackling issues like black money and corruption . This unexpected move has rattled the nation . In my opinion , this is both a boon and a bane . Maybe this will lead to a decrease in corruption . Certainly , the announcement with no warning shocked many people neck deep in black money . A substantial amount of money was seized before it could be made white . On the flip side , the lives of the common people have been thrown into disarray . The banned notes were the highest used denominations and with demonetization , the country is struggling to make ends meet . The long hours of waiting in queues at banks are proving to be futile as the new notes issued are exhausted very soon . The government ’ s aim of e-commerce and going cashless has put millions in a fix . The people should have a choice whether to go cashless or not . The government ’ s plan to decide it for us does not showcase a democratically elected system . -Richa A . ECE-A ( 2 / 4 )
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