Effect of demonetization in india

The demonetization of a 500 & the 100.

And would cease to be the legal tender from the 9th of Nov, and the whole country was the stunned. And This decision caused sensation in the whole country.

And Social Media was flooded with the messages and the information. And the People started counting trash they had a accumulated for years legally or illegally.

And all Rumours became rife. And Some a tried to invest their dying currency in a gold. And Some contacted their a near and a dear ones in this miserable hour. And few People could get only Rs 4000 of old denomination exchanged with a new one. And a Big queues before the banks and ATMs became order of the day.

And instead of getting a shorter, these queues were getting longer with the every passing day. And The last date for whole process was 30th of December. And The persons could deposit the old cash worth Rs 2.5 lac till the said date.

And the main objective of this move was to curb the black money, corruption & fake money menace. All people but those who were indulged in malpractices welcomed move. The whole opposition shook hand against this move under one pretence or other. And They called this decision draconian law and the wanted the govt to roll back it. Tirades were made to target decision.And the Govt also carried out counter attacks.

And The new currency which replaced the old one is of denomination of 500 and 2000. Though the people faced lot of inconvenience owing to the shortage of funds, and they did not criticize the govt for the move. Even they lauded Modi govt for this big move. And Prime Minister also addressed people many times telling the people that it was a mahayajna and they must offer their own ahuti in it.

Then He further said he was aware the hardships they were suffering and from but he sought only 50 days for setting things right.then He jibed at the chief political leaders who have stashed big amount of money & now joined hand to force govt to take decision back.

And the most interesting thing regarding demonetisation is that people are devising various the unique methods for transforming their black money in to the white one. Some of these methods are as follows.

Depositing money in accounts of their poor relatives & friends.
Enticing people with some percentage of money for exchange.And
Asking their employees to the stand in long queues in front of Banks & ATMs for getting money exchanged.
Hiring labors for some Rupees ranging from Rs 500 to 700 for becoming part of long queues in front of banks.ATMs.
Converting black money in to the gold.
Paying few months salaries in advance.

And Paying back loans forcibly.
Using their influence links with bank employees and so on.
Impact of Demonetization on the Indian Society Economy

And We shall see a great impact of this move of Central Govt on Indian Society & the Economy. And The first impact shall be that people will have the lower expenditure power. With that they will not be the able to purchase luxurious things.

And There shall be no ostentatious expenditures on marriages & the other ceremonies. And So society will grow lesser materialistic & people more prudent. And With fake money destroyed,and Indian economy will see big boom and so far booming real estate sector shall fall on ground.

The things shall be a cheaper. And the Indian Currency shall get respect at the international market. And There shall be great check on terro related funding & there fore on terrorist activities. Corruption shall be down to great extent as people will stop tendency of accumulating money using wrong means.

It will abridge gap between haves and the have nots. However, there may be some difficulties for couple of months. But this inconvenience shall be temporary and for short term.

Demonetization has big impact on Indian market & citizens like you and me. People flocked banks to changed their currency & stood in long lines in front of bank & ATMs for hours to draw their money. Surely, we have problems in but we also need to understand importance of it. Just imagine if it was told month ago, then all black money launderers could have managed their to money in this or that form. That is why it has to be a sudden & surprise act.

India is not only country which used demonetization to deal with corruption, inflation or tax evasion. In Europe, when they introduced Euro as European Union currency old currency was demonetized. And In 2015, Zimbabwe demonetized their currency to the eradicate their hyperinflation.

Demonetization can also used to promote Cashless Economy. As PM Modi aptly said, we might not a completely cashless society soon but at least we can be.Less Cash Economy.Under cashless economy, people prefer pay for goods & services in digital format than cash. Tough we Indians love to the handle cash, such event was necessary to change mindset of people who loves cash.

On another side, we can see positive reaction from all over world. Other countries who wants to invest in the India thinks that Indian government trying to solve Indian red tape & corruption. Ans It will draw more foreign investment in country which will help Indian government to build better India.

Now after 3 months after demonetizetion life is back on the roll.Nothing has changed for a common man.Even petrol and diesel rate are going high.

Cooking gas cylinders price also got gain last week.Nothing has changed for a commener.

Few old age people lost their life beacuse of Demonetization and marriages got cancelled or delayed.

People was sleeping infront of atm.After standing in que for four to five days they were coming home with 2000 rupees.And some of them were coming with empty hand.

Working womans were not going to work because they have stand in que.If they were not stand in que they have sleep without food.