Essay on demonisation of 500 and 1000 rupees notes
Answers
Demonetization
'PM Narendra Modi's decision of banning 500&1000 notes has caused political, economical, and social turbulence in India. ‘This move of the PM is being hailed as significant and important an event as was Mahatma Gandhi’s movements against the British. He did it for the political freedom of the country; PM Modi did it for the economic freedom of the poor and underprivileged people of our country.
It is not the first time currency is being changed. It has happened earlier also. Demonetization was implemented first in 1946, in 1956, and in 1978 also. The purpose behind previous demonetization reforms were the same as is now—curbing counterfeit money and black money.
This crusade against the black money has been welcomed by the masses. However, there is furor of protests, complaints, and resistance to the move from those who have been hit hard, especially the corrupt politicians, businessmen, etc. PM Modi’s banning the notes aims at ferreting out billions of rupees stashed away in hard cash by some unscrupulous anti-national people such as criminals, terrorists, drug-smugglers, gamblers, corrupt politicians and officers, and businessmen.
It has been reported that India is on top of the list of countries that have kept their black money in Swiss Banks. India with $1,456 billion or $1.4 trillion has more money in Swiss banks than the rest of the world combined. So you can imagine the extent of black money problem in our country. Similarly, within the nation the amount of hidden black money in the form of 500 and 1000 rupees notes is equally staggering. If the same amount is brought back to our country, our economy will flourish fast. PM Modi’s intention behind the move is purely to break the back of those people who have the black money or are involved in black money activities. Secondly, some anti-national agencies are using this black money and fake money to destabilize India. Pakistan and China are directly involved in these countries. PM Modi’s move aims at disrupting their anti-India activities by banning these notes, as it has been confirmed, these anti-India agencies use fake 500 and 1000 rupees notes by printing them.
One just fails to understand as to why some political parties in opposition who are unnecessarily making such a mountain out of a molehill. The PM has taken this step keeping the country’s prosperity and security in mind. Undoubtedly, there will be some inconvenience for some days. Such politicians as are trying to take undue advantage of the situation must be ashamed of themselves. Besides, the poor, the mediocre sections of India have welcomed this decision of the PM. In the long run this move is going to benefit the nation. There will be less corruption; more investment; better infrastructure; and general improvement in everything.