Everyone in Indian is analyzing one query and that is, whether demonetization works in Indian or not. People, different opinions, different views some saying it very successful move but some intellects are saying it become disaster for Indian economy.
Demonetization is Successful up to a level but further activities of Narendra Modi Government will enhance real outcomes. To comprehend the same let’s understand the goals behind demonetization. Here’s the list of some possible factors of demonetization- Black Money and corruption, Fake currency issues, Inflation, Excessive cash circulation in Indian economy outside the banking system etc.
Different People, Different Opinions
As far as ruining black money are involved it seems as if the govt is not serious because those who are assisting demonetization do not have even have even a rough understanding of black money.
The Nobel Award champion tells Indian today whether it is valued demonetizing 86 per cent of all currency to deal with black money. “These research were known to everyone, must have been known to the Prime Minister as well. So if it is that only 6 or 7 per cent of the black money is in cash, how do you expect to have a major victory? It’s confusing to me,”.
The economist seems that the plan has affected a huge section of people in Indian as it was taken unilaterally by the Center. “It was indeed not even the whole of the Main govt, it was a very small group of around Modi. So the most important question here, with state Assembly elections approaching, is that is there a problem of federalism that needs to be addressed?” he said.
Final words: Demonetization doesn’t failed, undoubtedly it has hammered all the black money holders who love to store black money in cash. As per the ruling govt there is a significance growth has been observed in tax payers in the country, which is good for economy.