Implementing A Common Indian Citizen Richer Essay example

1396 Words Nov 13th, 2016 6 Pages
Demonetization of Rs 500 and Rs 1,000 currency is going to make a common Indian citizen richer Demonetization of Rs 500 and Rs 1,000 currency is going to make a common Indian citizen richer Demonetization of Rs 500 and Rs 1,000 currency notes by the union government is a laudable and historic effort, we shall be glad on electing a government courageous enough to execute it; there is high chance – this decision may have profound negative impact and dethrone ruling party in the coming elections; people are not fully aware of its long-term benefits and their interim resentment could be cashed by the opposition parties to misguide them. Government’s latest initiative will benefit you in the long run and boost the country’s economy. If we don’t put an end to unaccounted or black money, rich would become richer and poor would be poorer. According to SBI, “ Banks received deposits worth Rs 53,000 crore since the government put out of circulation high-value banknotes in a bid to drain illegal wealth. Nearly 14 lakh crore are held in Rs 500 and Rs 1000 notes now – nearly 86% of the total value of currencies of all denominations in circulation” [1]. The government will have enough money to invest in infrastructure, education, agriculture, and all that would make India economically stronger.

How would you benefit from demonetization? Buying a house or a piece of land or a gold ornament which was not affordable before demonization, due to raised prices from all the…

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