demonstration essay for the ASL
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Answer:
Demonetisation, as we all know was announced by the Indian Prime Minister Narendra Modi, on November 8th. It was a bold step which aims at eliminating black money, counterfeiting currency, black enterprise, black marketing and terror financing. I agree that it has a bad effect currently but with a great belief I can say that it is just for a short term. Long-term effects are really very good in fact it showed its brighter side right from 8th of November. Although there was 7 per cent growth in GDP of Indian Economy in 2016-17.
Even the World Bank has said that it will lead to India’s Economy and India will be the fastest growing economy in the world by passing China. The total indirect tax rose to rupees 1.6 billion within 4 days after November 8th. Demonisation has led to a drastic fall in black money, terrorism, human trafficking and other types of exploitation. Even the RBI’s governor Urjit Patel and finance minister Arun Jaitley and many more are in the favour. People who have or had money were trying to pay more and more advanced taxes.
Also, the railway minister noticed that the number of railway tickets were bought by people of 1st A and 2nd A class seats for the same reason. Railways then announced that no person can buy tickets of more than rupees 10000. From the above facts, we can also see that people were trying to give a boost to the GDP by getting rid of their black money. In the end, I want today that Demonetisation has some current and bad impacts but it will prove itself to be very beneficial in the upcoming years.