Question

Letter on pros and cons of demonetization in india

Answer 1

Sender’s Name

Sender’s Address

City pincode

The Editor

The Week Magazine

Address

City Pincode

Date:

Sub: pros and cons of demonitization in India

Dear Sir,

Demonitization in our country was a much needed change. There are various pros and cons of this policy. They are:

Pros:

1. Demonitization has given the corrupt a clear cut message. Those involved in hiding money from government will ultimately have to pay high price.

2. A transition to cashless economy is really required to catch hold of people who love to evade taxes. In a cashless economy, there will be no question of tax evasion as all the documents and transactions are monitored online.

3. This will reduce corruption and people will not agree to take illegal money.
Cons:

1. There are 600 million people in India without bank accounts.

2. Less than 20% have access to smart-phones

3. Internet connection and electricity has not reached all parts of the country.

Regards,

Name