Demonetisation after one year – A Success or Failure
Hlo drifters…Honble Prime Minister of India announced about demonetisation exactly one year ago on November 8. We are going to discuss its affects on India and the other world after one year
Exactly one year ago on November 2016, our Honorable Prime Minister Narenda Modi shook the whole nation by announcing about demonetisation in India in a live speech. In the late evening of November 8 2016, he invalidated ₹500 & ₹1000 notes.
OBJECTIVES OF DEMONETISATION
- The main motive of this invalidation of currency was to attack black money
- and fake currency which is use to finance terrorism.
- It is one of the single most controversial
and a groundbreaking decision ever taken by a Prime Minister in the Indian history and it has effected many sectors.
EFFECTS OF DEMONETISATION
•Most people encountered problems accessing cash for their daily needs, with pics of serpentine queues outside the banks.
•The total value of ₹500 and ₹1000 notes that were invalidated stood at ₹15.44 lakh crore 😱
Positive and Negative effects of Demonetisation.
- It came out to be a good attempt in order to make changes but people are still chugging around.
- No doubt government is taking steps to change the situation and overall we can see people in India are taking it well.
- This step could be said as worthy but it has hurt every niche of economy.
- The industrial output smashed, service growth has slowed down and eventually economy growth slacked up.
- But all the people from inside know that it was a great and bold step taken by the new government for the benefit of the nation and its citizens only.
At the end we can conclude that :
this present Govt is the only among all who has taken such a big step and even proved it right after a year.