For and against of ""DEMONETIZATION""
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On November 8 ,,,2016 The Prime minister ""NARENDRA MODI"" announced the demonetization of the currency notes of 500 & 1000. Further the government gave people a period of 2 months to Deposit all currency"""',👌👌👌👌
Followings are the advantage of Demonetization 👌👌👌----
1.It has helped the government in tracking black money"""""
2.A big part of black money was being used for funding ""Terrorism""👍👍👍👍,, gambling,,in inflating the price of major assets eg.--real estate,,Gold & other evils👌👌
3.Another expected benefit is that due to people disclosing their income by depositing their money in bank accounts .The government got a good ammoua of tax revenue which can be used by it bettermemb of society 👌👌👌👌
4.Indian government has got success to push the Inadian economy cashless and spread out digital technology 👌👍👍
5.Economy has witnessed closed to 20% decline in Currency circulation no of taxpayers have increased 👌👌👌
6. 16.6 billion ruprer return back to bank system👌👌👌
7.The increment of deposit of money into saving ,,ccurrent account 👌👌👌
8. 1833 carore property was sealed👍👍
9.Illegal company became close👌👌
10.Exchange of currency between people become transparent 👌👌
11.Gold smuggling is decreasing day by day 👌👌👌
12.Income tax returns are increasing 👍👍👍👌👌👌👌👌
Disadvantage-----
1.The common people got affected and everyone was rushing to get rid of demonetized👌👌👌
2. The inadequate supply of new notes affected the day to day budgets of citizens 👌👌
3.Small business temproarly financial losses👍👍👍
4. The situation was worse in rural areas
5.Printing the new currnccu cost became high 👍👍👍👌👌👌
Finally Demonetization has got positive effect in all manner of Indian economy 👌👌👌
The demonetisation announced by our honorable Prime Minister is very good for economic growth of India. The positive impact is going on the all people the total black money became out which is hide by rich man. Before this rich became more rich and poor became more poor and price of essential goods rise day by day. The poor and middle class family have suffered more problem to to purchase their daily life goods. The central government indirectly took the information of all type of income of all rich people. It became necessary to exchange all the money through Bank otherwise it became all blank paper. The rich people come under exact tax paying which increased the fund of government. And now government launched so many profitable scheme for poor and middle class family. It controlled the depth between rich and poor. Government has given preference for all people up to 2.5 lakh tax free. Now all people survive their life very easily and maintain happy life. Prime Minister also provided the well scheme by distributing rice , wheat and LPG. Now government has enough fund by collecting tax from rich people. Government gave three month time duration to deposit all hidden money. There is no doubt middle and poor family become happy e in their life. They are able to purchase anything they want. There was some trouble during the demonetisation period but it should always remember to every good work has both positive and negative impact. So government has ability to investigate and focus all illegal income of people because he has data of all people and now each and everything linked by Aadhar card or unique identification number. It also control the price rise for essential goods and facilities to middle and poor class family.
THANKS
PRESENTED BY ---Er. R.K.Ajit
