respond on the policy taken by a prime minister of counselling old currency and introducing new currency on which way it regulate prices
Answers
Explanation:
Narendra Modi is the second Indian Prime Minister to demonetise high-value rupee ... Take a look at the new Rs 500, Rs 2000 notes to be circulated soon.
The correct question will be :
Give your response on the policy taken by the prime minister of cancelling old currency and introducing new currency and how does it regulate the prices?
- This method was initiated by our prime minister to abolish the presence of black money from our country which is used for various illegal activities.
- As huge amount of black money is present with some politicians and business professionals and they hide it rather than paying taxes for it.
- According to this policy all old 500 and 1000 rupee note will have no value and new 2000 and 500 note will be introduced in the country.
- It regulated the prices in a way by as it led to increment in the bank deposits by various people and this way huge amount of money was secured for the economic development.