There is severe shortage of 100 rupee notes and with a single 2,000 rupee note, people find it very hard to find change. आपको किसी परीक्षा की जानकारी चाहिए या किसी भी प्रकार का हेल्प चाहिए तो आप comment कर सकते है. Demonetisation alone cannot fight parallel economy and eliminate black money. Economy has got a jolt and should be catapulted after revival in the future. This will make the cash hoarders to deposit their money in the account and make it accountable. If this is true, then one advantage of demonetization is that it will help to propel us into the future.
Black Money tracking This move will help the government to track unaccounted black money or cash on which income tax has not been paid. After a certain cut off date, it is not possible to use those notes and coins to pay for things. Those who are in favour of the decision should produce the comparative factual data of cost of replacement of money and benefits of this step,if no then there is no matter either one agrees or not. This should eventually lead to strengthening of such systems and the infrastructure required. Only for that failure, some economist calls demonetization a failure by government. During initial days of Demonetisation, terrorist funding, property buying, gambling all these activities did reduce and it was obvious as there was cash crisis. Curbing Black Money Demonetization has made it mandatory for every person in India to deposit their old currency in the banks and exchange them for new currency.
Now, everyone wants to know if it was a masterstroke by the government or a setback to the nation. The government has taken few steps in this direction much before its November 8, 2016 announcement. However, before any demonetization program is carried out, it should be carefully though through and its impact on the poor should be considered. It was a major decision which had its impact on all sections of the society. Demonetisation gave a new direction to the way people do monetary transactions in India and attempted to destroy parallel economy.
The overnight decision changed the life of many as black money holders were worried about the pile of cash they were sitting on. In other words, it can also be said that A demonetization is an act of stripping a currency unit of its status as legal tender. Now, everyone wants to know if it was a masterstroke by the government or a setback to the nation. Several other supportive measures are required by the government to change the economy for good. In any case, nobody seems to be unduly worried now that the entire demonetization episode and the time frame to exchange the old notes now stands completed. For example, lab experiments, pottery making and cooking workshops are examples of method demonstration instruction techniques.
Most by far of the overall public who have been concealing their wage is by and by constrained to way to deal with pronounce their compensation and pay force on the same. This becomes even more important when there are other related moving parts such as , clean-up of the banking system, real estate sector reform and others going on at the same time. Let us now discuss the demonetisation benefits and demonetisation disadvantages as well. Demonetisation is the process that involves a change of national currency, where old currency is replaced with new currency. The government has recovered due taxes from culprits in short run by this move. Government would have gathered way more than 16000cr if it only forced big coperates like ambanis and adani to cough up the black money which investigating agencies have found them to have deposited in offshore accounts but then who will fund political parties.
It will result in additional costs for banks and also inconvenience customers. There are also plans to include new currency in other smaller denominations, especially Rs 100. Those indulging in taking bribe will refrain from corrupt practices as it will be hard for them to keep their unaccounted cash. Economy Slowdown: Without Cash in the market many industries like real estate, Infrastructure, gold etc. What to do if you did not Declare your Income?.
Tempers are running high among the masses as there is a delay in the circulation of new currency. Demonetization is a step to make india a cashless society. Demonetisation is acting as an effective countermeasure against such activities. In the beginning, general people had to suffer a lot due to unavailability of sufficient cash, but within 3-4 months the situation became normal. There are already income tax raids being conducted on the havala traders and agents who are possessing illegal new currency. Moreover, it is critical to emphasise that demonetisation was a unique event, and hence, drawing inferences based on theory, armchair analysis or even short-term data, could lead to misleading conclusions.
Presently, less than 10% of the population is paying Income Tax. The 2000 rupees note is a weight on the all inclusive community as no one jumps at the chance to do the transaction with such high regard money. Demonetization in India was the sensational news for the world in the latter half of 2016. There are various advantages and disadvantages of the demonetization drive. However, the government has given higher withdrawal limit in such cases.