INDIA

Benefits of demonetization you must know



Gone is the deadline to exchange all your 500’s and 1000’s. In a way, the arrival of the 1st of January,2017 has made all the unaccounted, non-exchangeable money, worthless pieces of paper, a cleansing of sorts. Yes, the last one month has been difficult. Worst of it from the beginning itself, standing in long queues at the bank. We can be sure that almost all the people in the country, each member of every family now, has a bank account and have also been at that queue for at least a couple of hours. At times of emergency, this situation rendered many people helpless. Nevertheless, with every citizen having a bank account, it is now, easy to monitor the cash flow in the system. Sadly, there are still people out there who are not aware of the change, with no bank account and uninformed on how to exchange their hard earned savings.
ATM’s also had long queues till all the money was exhausted. Besides, all the ATM’s in the country had to be recalibrated to accommodate the new 2000’s.The next difficulty was sparsely spending it so that the 100’s you withdrew will last in your pocket as long as it possibly can. In a way, the government got us to spend judicially, which is indeed a good impact on every household.The common man who pays his taxes and submits his bills, would not have an issue with demonetization but, for the time he wasted in the queue. The one’s really in trouble are those who are hoarded with black money up to their noses.
When people say this was a bad move by the government, they wouldn’t be complaining any further when land prices eventually drop and we start buying commodities at lower costs.The number of people who have been caught for the possession of black money is enough proof to realise that this action is indeed a success.There have been rumours claiming that several people were already aware of it before it was announced. There are many people who have found a way around it even by using other people to exchange their black money for them. But they are merely the few rodents and cockroaches who have escaped through the cracks and gaps of the door. The majority have been trapped. Irrespective of those few, visually we are witnessing the positive impacts of it. The police department has seen a drop in crime rates, hired protesters, voters and several other forms of illegal activities that require a bribe, has been on the decline. They say that this is just the beginning. How can it be anything but a blessing?

Benefits of demonetization you must know
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