Question

500 and 1000 notes are demonitised recently how far this is helpful for people

Answer 1

Around 3-5% people have black money in India. They have Billions of black money held in their houses or unaccounted cash on which no tax has been paid. This money is earned by corruption and illegal businesses. Due to demonetization government can track the defaulters. It will leave no option to these defaulters either they have to disclose the money or let it be destroyed.and also It will stop all the funding to illegal money laundering, arms smuggling, gambling., etc. Because of demonetization all the Terrorist activities will be stopped due to lack of funding.
With this bold decision India can see great growth in tax revenue. The benefit is people are disclosing their income by depositing money in bank accounts. Government will get a good amount of tax revenue. It will be used in transformation of country by providing great infrastructures, better hospitals, Schools, roads and many facilities to poor people.