Question

essay on demonitization

Answer 1

 demonitization is a very good tool to arrest black money. It was implemented with a very good intention to make India free of parallel black economy and black money.

But the actual problem was in implementation. A lot of homework was needed for taking into account few critical issues of common people like critical illness, small business, old age people's concern , farmer's issues, inefficiency of rural banks etc. It is because demonitasation brought a phobia of non-eligibility of old currencies in hospital and other vital shops even after permission of the government for critical issues of common people. It is because government cannot manage each and every person. It has been noticed that many institutions and medical shops have denied to accept old currency. It is also because these person or institution might had black money and were unable to accept more old currencies. These are the hidden issues that must be thought before theoretical homework. A macro and micro assessment were needed for ground level problems.

As far as I know, the decision may brighten the future of nation, but it`s social benefit and loss cannot be calculated right now. And it is too early to produce data of benefit or loss. After 31st December the picture will be somewhat clear. A big support will be needed to correct the problems of small businessmen facing the monitory transaction.