It is not the first time currency is being changed. After the announcement, people rushed to the ATMs to withdraw cash in Rs notes to meet their expenses and other financial needs on November 10 and in the days to come. college scholarship essay help upenn The government is taking all the necessary steps and actions to meet the currency demand and soon the trial and tribulations of the people will be over with the smooth flow of the new currency.
Through this move, he designed to: One just fails to understand as to why some political parties in opposition who are unnecessarily making such a mountain out of a molehill. Those indulging in taking bribe will refrain from corrupt practices as it will be hard for them to keep their unaccounted cash. best buy research paper resumes The ultimate objective is to make India a cashless society. I want a free account!
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They were supposed to reopen on November Many people resorted to online or net banking systems to transfer funds or make payments to other people. Economists are busy in listing out many more merits and demerit of this policy. This can be considered a major step by the government in the process of demonetization. Some families had difficulty in procuring their daily stores.
It occurs when a particular form of money is pulled from circulation and a new note or coin is introduced in the market as a replacement of withdrawn form of money Objectives of Demonetization The government has different objectives behind this demonetization. Many poor daily wage workers are left with no jobs and their daily income has stopped because employers are unable to pay their daily wage. There were reports that some people died while standing in long queues outside the banks. Later, this withdrawal limit was increased to Rs.
Even the hospitals and other healthcare services refused patients who had old demonetized banknotes. Secondary School English 5 points. Only those who incurred heavy losses owing to hoarding and stashing away currency in bulk were found complaining. The common people braved the situation and tackled their difficulties peacefully and continued to show their solidarity with the Prime Minister Narendra Modi in every possible way, perhaps, in the hope of a cleaner economic environment!!! With the help of a different article on demonetization or essay on demonetization in different media, economist and responsible citizens tried to make the common people aware of the benefit of this steps taken by the government.
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The common people braved the situation and tackled their difficulties peacefully and continued to show their solidarity with the Prime Minister Narendra Modi in every possible way, perhaps, in the hope of a cleaner economic environment!!! The demonetization policy will help India to become corruption-free. Even though there were allegations that the Prime Minister did not take into account the subsistence-level agricultural population and the lifestyle of India's massive lower and middle-class working force, the majority of the common people seemed to have welcomed this demonetization move. writing essay help best out of waste Those individuals who have unaccounted cash are now required to show income and submit PAN for any valid financial transactions.
The purpose behind previous demonetization reforms were the same as is now—curbing counterfeit money and black money. Through this procedure, the government or administration could tidy up a gigantic measure of undeclared wage. buy an essay cheap xbox one games online Demonetization is one of the most trending topics which occupied the columns of Indian newspapers in The ban on high value currency will also curb the menace of money laundering.
Through this method, the government was able to mop up a huge amount of undeclared income. Some families had difficulty in procuring their daily stores. medical school essay help prep The RBI also announced that a new redesigned series of rupee banknote and a new denomination of rupee banknote will be introduced in the Indian economy from November 10, Narendra Modi, announced that on the stroke of midnight all and 1, rupees currency notes would be discontinued as legal tenders. The use of e-wallet and other digital payment systems also increased manifold in the country.
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Now such activity can easily be tracked and income tax department can catch such people who are in the business of money laundering. Most of the people who have been hiding their income are now forced to come forward to declare their income and pay tax on the same. The move will stop funding to the unlawful activities that are thriving due to unaccounted cash flow. Answer quality is ensured by our experts. They will be able to withdraw cash from banks, which were limited to Rs.
Free help with homework Free help with homework. Regardless, there were various who still aggregated the dim money, and remembering the ultimate objective to deal with them; the administration detailed the demonetization of and money notes. He did it for the political freedom of the country; PM Modi did it for the economic freedom of the poor and underprivileged people of our country.
This move will help the government to track the black money. December 30, , was set as the deadline for the redemption of the demonetized currencies. However, if we compare the merits verses demerits, it will be safe to conclude that the former outweighs the latter. They will be able to withdraw cash from banks, which were limited to Rs. Demonetization was implemented first in , in , and in also.