Write a short essay of 150 words on: demonetisation
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Demonetization simply refers to the stripping a currency unit of its status as legal tender. The countries adopt the demonetization in order to fight black money and other purposes.
India has also adopted demonetization three to four times since Independence. But the recent demonetization on 6th November 2016 by the Narendra Modi led government has surprised all the people In India. The government banned Rs 500 and Rs 1000 notes abruptly. The greatest criticism government faced was pre-mature planning. The government had not issued large number of new notes which caused dearth of notes in the country. People had to stand in long ques before ATM machines for withdrawal of Rs 2500/ day. It also lead to the death of more than 100 persons in the country. So government was targeted for this move and even the purpose of black money, stone pelting and terrorism did not stop due to demonetization.