Question

A short speech on Demonetisation: Failure or Success (I need it real fast so plssss......)

Answer 1

Good morning all. Today I would like to speak about the one of the most important thing happening in India; Demonetization. On 8th November, PM Modi’s announcement was the breaking news across India. Rs.500 and Rs. 1000 notes (currency) are made illegal from a stroke of midnight. One might think, why it’s been done? Indian government’s goal was to remove all counterfeit (fake) currency from the market which is used in tax evasion, corruption and even in funding terrorist activities. These two currency notes are the most used currency in the Indian market, it had 86% share in the market. This was a very big and risky decision and as some aptly said it is a “Masterstroke“. Some even say it is a “Surgical Attack” on black money. In simple words, old Rs 500 and Rs. 1000 notes are worthless now, they are just a piece of paper.Demonetization has a big impact on Indian market and citizens like you and me. People flocked the banks to changed their currency and stood in long lines in front of bank and ATMs for hours to draw their money also bank employees overworked with all their might so that each individual can take a sigh of relief. Surely, we have problems in but we also need to understand the importance of it. Every thing on this planet has good and bad sides and demonetisation is not an exception. The first and most important issue was its implementation. It is debated that implementation was not good, not all stakeholders were consulted in this project. But kind of secrecy this project demanded it was not possible to some extend to consults all stakeholders. This brought up various problems later like adjusting the ATM machines to the new notes configuration, printing enough money and it’s distribution. But it did prevail its secrecy which was a paramount success factor for demonetisation.

Life Loss
A lot of people struggled, died as direct and indirect effects of demonetization. Hospitals, clinics, sellers were not accepting the old money in the transition period. Some of them exhausted in the long queue under the hot sun, some injured in the agitations. This is one the biggest problem in demonetization implementation.

Credit to Bank Employees

Generally, nobody wants to see visit bank physically as they don’t get treated well by bank employees especially in government banks. A common man had a not welcoming respect for bank employees in general. But in this demonetization transition bank employees did a marvellous job, they worked beyond their working hours and with the dedication which made this transition possible. But bank employees never got the sufficient appreciation and credit for their role.

Political Game

Every political party in opposition stood against the present government, they agitated showing that they are on peoples side. It shows that no matter what been done for good of the nation, political parties in opposition will oppose it by taking the name of common on but working for own political agenda in mind. This shows for politicians the political game is more important than the nation. This time nations gave an impeccable answer by rejecting these fake emotion towards the common man.
thank you