#Demonetization

Source: http://www.oneindia.com

An extremely serious action was taken by the Government of India who illegalised the use of ₨ 500 and ₨ 1000 notes since the 9th of November. This address to the nation of India was shocking for the citizens of India as 86% of the people's currency was now paper. Though, Mr. Modi did lay out a bunch of solutions and policies so that honest won't be left to suffer.

A bundle of newly designed and printed notes have been launched in the market with the value of 500 and 2000 ruppees. The money in 500 and 1000 ruppee notes was allowed to be spent in all government offices, petrol pumps, bill payments and chemists till the 11th of November which was later extended. Though, the policy that was most relieving was that the people could deposit their 500 and 1000 notes in their respective accounts. The 'Jan Dhan Yojna' started by the PM also helps this cause as 99% of the families India have at least 1 account. Also, citizens may withdrawal money (24,000 a week maximum) in either 100 ruppee notes or the new 500 and 2000 ruppee notes.

The ways in which this action will help curb the problem of black money is that the people with black money will lose their money. It is so because if they do deposit their money in the banks, they will be interrogated for the source of their money. If they do admit their black money then they will be charge a 98% tax on it, which will almost finish black money in this country.

The problems that are faced due to black money are the smuggling of drugs and the stoppage in construction of architecture. Smuggling of drugs leads to destruction of the youth in various states like Punjab. We all complain and fuss about the incomplete metro and building construction, but have we ever imagined that it is the shortage of tax that leads to the shortage of money to buy material for completing these structures.

We have all been voting against this action and the opposition has made itself evident. 3 lakh people unfollowed Modi on twitter and as many people have been speaking against him. Even the media has exaggerated things and gone against the government. But, we have not taken into consideration that we have been voting for governments who have vowed to demolish the growth of black money in India. Finally, a government has taken a step against black money and now we are going against it. We are facing problems which we were already warned for, but if we look at the brighter side, we see that the economical distinction between the rich and poor has grown less.

We should not go against this step in fighting corruption, we should embrace it and consider it an opportunity to punish the corrupt people of India. Though we will face problems but we should not give up and should cooperate with the government to help build 'Equality in Economy'.
This is Hemant Gupta signing off in hope of a better India.