Demonetization short essay, impact of demonetization...

Many Indians switched to alternative payment avenues — a big deal in a country of 1. Prepaid cash cards were another option that customers found useful, and that meant good news for companies like ItzCash.

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    Even though there is suffering and agony among the masses right how to start writing a personal essay the moment but the forecast is how to make a work cited page for an essay its benefits will be seen in the long run.

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    With that they could not purchase luxurious things. With the fake money destroyed, Indian economy was expected to see a big boom and resultant so-far-booming-real-estate-sector fell the chronicles of narnia essay the ground.

    It received support from many bankers, social workers, and businessmen who said that it would help curb black money, reduce criminal activities and accelerate e-commerce. Move on and start reading… Advantages of Demonetisation The process of demonetisation had several positive effects on the Indian economy:

    Many e-commerce sites praised the move. Top bankers, businessmen, social workers and many politicians expressed their, support for demonetisation; saying that it would curb the rise of tax evasion through black money, land a major hit pepsi case study forgery operations both within the country and without and also significantly reduce criminal activities like human trafficking, terrorist activities, etc.

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    Simultaneously, rumors of a gold ban started to float, which led to agencies ramping up the volume of gold imports — to around metric tons during November, the highest sinceas reported by Reuters. All the monetary transaction has to be through the banking methods and individuals have to be accountable for each penny they possess.

    • Chaos ensued in the cash-dependent economy some 78 percent of all Indian customer transactions are in cashas long, snaking lines formed outside ATMs and bankswhich had to shut down for a day.
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    • A Short Essay, Article on Demonetization and its Impact

    The surrender rate for Naxalites and Maoists has been the highest recorded in India immediately after demonetisation. This resulted in a corresponding decrease in crime across those areas.

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    This was increased to Rs. Around Rs. However, it can be agreed that the government could have done more and better preparation before the announcement of demonetisation.

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    Those individuals who have unaccounted cash are now required to show income and submit PAN for any valid financial transactions. With the huge demand for a demonetisation essay by students, Civil Service Examinees and also other interested individuals, we decided to post an essay on demonetization on our site.

    Tirades were made to target the decision.

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    Some ATMs and bank premises were attacked, however there were no reports of any grievous injuries. The Jammu and Kashmir police also reported the effect of demonetisation on terrorist funding and the separationist movement in Kashmir.

    1. Many experts have stated that the government should have prepared more before announcing demonetisation, the government has countered that too much planning would have resulted in more leakage of information thus defeating the purpose of catching tax evaders unawares.
    2. If these are the merits, there are demerits of this policy as well.

    The government countered that if prior knowledge had been demonetization short essay, most of the black money would have been quickly transferred to overseas banks and hidden through other means like benami property, gold bullion, and jewelry. Lack of proper planning: The first demonetisation occurred induring the rule of the interim government under Jawaharlal Nehru.

    There were no ostentatious expenditures on marriages and other ceremonies.

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    Banning high-value currency will rein in criminal activities like terrorism etc. It has to bear the cost of printing of the new currency notes. The long queues outside ATMs and banks made people look a bit unfavorably at demonetisation.

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    Promotion of a cashless society: There might be a great check on the terror-related funding and therefore, on terrorist activities. Many experts have stated that the government should have prepared more before announcing demonetisation, the government has countered that too much planning would have resulted in more leakage of information thus defeating the purpose of catching tax evaders unawares.

    • Many wrongdoers, in collaboration with corrupt bank officials, distributed their gains over many bank accounts to hide their money.
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    • Jammu and Kashmir police submitted a report stating that demonetisation had reduced the funding for separatist terrorist groups in Kashmir, thereby reducing their activities.

    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. There is a background to the current decision of demonetization of and rupee notes.

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    Use of debit and credit cards, e-wallets and card swipe machines greatly increased. The second step that the government initiated was a tax declaration of the income and demonetization short essay given October 30, deadline for this purpose. Asking their employees to stand in the long queues in front of Banks and ATMs for getting money exchanged.

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    Paying a few months salaries in advance.