Write an article on ‘Cashless India’ in about 100 words.
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Answer:
Cashless India is a mission launched by the Government of India led by Prime Minister Narendra Modi to reduce dependency of Indian economy on cash and to bring hoards of stashed black money lying unused into the banking system. The country embarked upon this transition to a cashless economy when the government took the revolutionary step of demonetization of old currency notes of Rs 500 and Rs 1000 on November 08, 2016. This move was targeted at the fake currency circulating in Indian market and the black money that somehow escaped the radar of tax authorities.
Post demonetization acute shortage of currency in Banks and long queues outside ATMs, gradually turned people towards digital transactions, one of the prime requirements under cashless India. If the government succeeds in providing secure and fast digital payment methods to the consumers and merchant establishments across the nation, then the dream of India becoming a completely cashless economy will materialize.We are here providing a variety of long and short essay on Cashless India to empower the students with ready material available online in different word length – in 100, 150, 200, 250, 300 and 400 words.
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Article Writing.
Explanation:
The Cashless India.
Arid Mahal
Cashless in a positive perception means reduction in the use of paper money and increase in the use of online payment and transaction. A 'Cashless India' would surely help the country leap into a more equal and less corrupt one.
The reason why India should strive towards a cashless country is because of the fact that corruption and hoarding of black money prevails at a large extent. People often hoard money to avoid taxation from the government. It is believed that the amount of hoarded money if invested would greatly increase the economy of the country.
In a cashless society, all transactions and income generation would be directly done through bank accounts. The government can easily monitor any illegal transactions which may occur among big capitalists and other such groups of great economic influence. There would also be no cash based criminal activities and tax evasion can be controlled and monitored.
PM Narendra Modi also initiated one similar movement called the "Digital India'. It aimed at maximizing use of online payment and reduction of cash transactions. It also aims to ensure that government services are available to citizens electronically.
Therefore, the need of a 'cashless society' has become an important change that we might all need to consider in this modern times.
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