Positive and Negative effects of Demonetisation of ₹500/1000 notes on Indian economy.
Points to remember before you participate in this discussion:
- Participate in Q4Interview GD Round and Prepare for any GD Round of MNCs.
- Assume, you one of the member of a real group discussion.
- Take the initiative to participate and contribute your thoughts.
- Express your positive attitude towards providing the solution.
- Your can rate other user discussion.
Negative effects of demonisation is that the common people are suffering more than any other because they have to get their few notes exchanged in the bank after standing in long queue, it's a waste of time for common people because they don't have any extra money apart for their income it is waste of time for them. Positive side of this step is that the businessmen, landlords, politician s who has saved lot of money in various places in cash will be caught red handed because they cannot exchange huge amount of money in one go and need to inform about their income.
India which always have a tag mark of corrupted country is now fading because of the step taken by our honorable Prime Minister who is trying to make India a corruption free country by applying demonetization as his step step. Which will help the citizens to lead a stress free life with whole clarity and transparency of the Indian money and give a chance to a middle class to feel equal to that of the higher once. It is difficult situation to stand in a long queues for the exchange of the notes but in my opinion if there is a change specially a good one, an individual have to foresee a long term results of it and should not worry about the pain that the are handling , the pain and wait sometimes lead to a fruitful and remarkable results as Demonitisation will surely give.
Positive effects of demonetization is that the black money which is stored in their houses will come out because of this step. They will not be able to store more amount of money in their houses which they have earned from other sources. Negative effects are that normal people are suffering a lot to get there notes exchanged and have to waste time waiting in line to get turn in order to exchange the notes. Many people died because of demonetization a hospital's denied to take the money in 500 or 1000 note form and few died waiting in long queue.
IMPACT OF DEMONETIZATION IN HOSPITAL SERVICE INDUSTRY
As we can see the long queue before bank everyday just for the exchange of notes is it the right thing that a common person has to go though? Government is for the people but here people suffering and many even lost their lives because of the demonetization. Yes the step was good move in order to get the black money back as people prefer to save black money big denominations like 500 or 1000 but the adverse effects of this is faced by common people which is not good.
Indian economy will boost as almost ~80% black money has removed, and due to limitation of withdrawing money, banks deposit is getting increase, which will boost indian economy. price of goods will come down,