This step will prove to be a major blow to:
- Black Marketers
- Terrorists & Anti National Activities
- Fake Currency Markets
- Real Estate
How will this step benefit India and its nationals?
- Arms smuggling, undercover activities and terrorist related activities will be Paralyzed due to lack of funding. This is most important advantage to the country.
- It will help the government to fight Black money, corruption, terrorism and counterfeit currency with one single decision.
- Rupee will strengthen over-time as Inflation will go down which will benefit poor and middle class people.
- Investments in gold and jewelries will increase, eventually increasing investment in the government’s gold monetization scheme.
- Rise in plastic money like debit card, credit card, online transactions.
- All cash whether in a normal household, reported, un-reported will come on records.
Although this move will hamper normal day to day routine Activities for a few days, creating havoc and panic in the nation, but very soon, it will prove to be a clear win-win situation for a common man, who was till now suffering the negatives impacts of the parallel economy. As a responsible citizen the need of the hour is to extend full support to this initiative and help achieve the benefits of this move and ultimately contribute towards India becoming a paperless economy.
