Read here the Top 5 benefits of Demonetization

1. Surgical Strike on the parallel black economy:

This is the most obvious one. India has a huge parallel black economy which the government can’t tax and which forms an island away from the main economy. Nobody knows the exact figure but it has been estimated to be in the range tens of thousands of crores of Rupees in the past to lakhs of crores today. You can be sure that a good chunk of this will come into the main economy. 

2. Get every citizen in India to be monitored online: 

A cashless economy is not just convenient for citizens, but also for the government to monitor. The government wants each and every transaction in India to be online so it can be easily tracked and taxed. Credit card and net banking usage is up; debit card transactions have soared while PayTM has struck a virtual goldmine. This is a huge step forward in India becoming a cashless economy. Some may complain that Big Brother is watching, but like it or not, this is the future.

3. Crackdown on terrorism and Naxalism: 

It is an open secret that both terrorism and Naxalism run on counterfeit notes coupled with black money. They have been severely hit as their funds have dried up. They are currently down and now is the chance to land a decisive blow and finish off these menaces once and for all.

4. Change the mindset of everyone: 

Since Independence, we have led a fatalistic “chalta hai” policy. Corruption can’t go. The black money economy can’t be hit. And so on. That changed overnight. Now the citizens of India know that Modi is serious and any other governments too can crack down if they really want to. 

5. Boost the economy: 

For one a good amount of black money will make its way into the white economy and that will only boost the latter. Then with people burning their notes and counterfeit ones being taken out of the system, the value of the Rupee will become stronger. The more the notes there are in the market, the higher the inflation. If bad notes are taken out of the market, prices will fall and the Rupee’s buying power will marginally increase.
Read here the Top 5 benefits of Demonetization Read here the Top 5 benefits of Demonetization Reviewed by Pawan Upadhyaya on 03:27 Rating: 5

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