Demonetization aim and result, Note Bandi activities
1. Introduction-Prime Minister Shri Narendra Modi declared Demonetization currency notes of '1000 and 500 with the effect from midnight of 8th November 2016 (that is from 9th November 2016). He gave details of the replacement of old currency in the new currency. New currency. introduced was in denominations of 2000 and? 500 Rupee notes
2.The Aim of Demonetization -The aim of demonization was to put a control on Illegal monetary activities of some people as black Money traders, black marketeers, fake money producers and business of terrorists by Pakistan.
3.The Exchange Policy-In his speech, the Prime Minister of the country, to the people of the country, not to be harmed in any way. There was going to be: a step by step replacement of old notes. Old notes could be deposited in the bank accounts or they will be exchanged by the banks up to 30th December 2016.
4. Effect on Illegal Traders-It was a sudden announcement and the illegal traders of money were taken aback. There was no clue of it even before 5 minutes of the announcement. It was called a Surgical Strike. The black money holders bought jewellery shops gold and ornaments between 8 PM to 12 PM. Old notes were taken in big bags. The gold sellers exploited this opportunity. They took a high price of gold. Some black money holder threw their bundles of notes in rivers or set them on fire.
5. Difficulties-Common people faced great troubles in exchanging notes and depositing them into banks. There were long queues in the banks. The work was slow due to formalities. But they endured the troubles and all supported the Prime Minister's daring step
6. The Opposition Parties-The opposite parties took advantage of the situation and they created hurdles in the smooth running of parliament sessions. They are very critical of the demonetization. They have organized rallies and tried to provoke the people to create chaos. The Opposition was tried to provoke people. But they were not successful and public Supported the PM.
7. Positive Results - Demonetization become Successful in its aim to a great extent. The terrorism black was broken as they could not be funded Now. The fake notes and black money was gone. Hawala Trade was also adversely affected. The other illegal parallel economy was also given a setback. The income tax department raided illegal money and differentiated a large amount of old and new currency.
8.Conclusion- Prime Minister Modi is doing his best to develop the country in all fields. Demonetization was a great challenge for him. He is bent to make the economy of India sound and forceful. He is a great friend of poor people.
1. Introduction-Prime Minister Shri Narendra Modi declared Demonetization currency notes of '1000 and 500 with the effect from midnight of 8th November 2016 (that is from 9th November 2016). He gave details of the replacement of old currency in the new currency. New currency. introduced was in denominations of 2000 and? 500 Rupee notes
2.The Aim of Demonetization -The aim of demonization was to put a control on Illegal monetary activities of some people as black Money traders, black marketeers, fake money producers and business of terrorists by Pakistan.
3.The Exchange Policy-In his speech, the Prime Minister of the country, to the people of the country, not to be harmed in any way. There was going to be: a step by step replacement of old notes. Old notes could be deposited in the bank accounts or they will be exchanged by the banks up to 30th December 2016.
4. Effect on Illegal Traders-It was a sudden announcement and the illegal traders of money were taken aback. There was no clue of it even before 5 minutes of the announcement. It was called a Surgical Strike. The black money holders bought jewellery shops gold and ornaments between 8 PM to 12 PM. Old notes were taken in big bags. The gold sellers exploited this opportunity. They took a high price of gold. Some black money holder threw their bundles of notes in rivers or set them on fire.
5. Difficulties-Common people faced great troubles in exchanging notes and depositing them into banks. There were long queues in the banks. The work was slow due to formalities. But they endured the troubles and all supported the Prime Minister's daring step
6. The Opposition Parties-The opposite parties took advantage of the situation and they created hurdles in the smooth running of parliament sessions. They are very critical of the demonetization. They have organized rallies and tried to provoke the people to create chaos. The Opposition was tried to provoke people. But they were not successful and public Supported the PM.
7. Positive Results - Demonetization become Successful in its aim to a great extent. The terrorism black was broken as they could not be funded Now. The fake notes and black money was gone. Hawala Trade was also adversely affected. The other illegal parallel economy was also given a setback. The income tax department raided illegal money and differentiated a large amount of old and new currency.
8.Conclusion- Prime Minister Modi is doing his best to develop the country in all fields. Demonetization was a great challenge for him. He is bent to make the economy of India sound and forceful. He is a great friend of poor people.
