“ 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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