WONDERFUL! Why Was Demonetisation Necessary

Anil Bokil of Pune-based Artha Kranti Pratisthan an early votary of demonetisation has defended the benefits of the moveBokil told ET that there was a huge cash bubble and if demonetisaiton had not happened India would have been hit like the 2008 subprime crisis in US. Why Demonetisation Will Help Small Businesses.


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Demonetisation Important Necessary Step against Corruption Says US Spokesperson File photo of US Deputy Spokesperson Mark Toner.

Why was demonetisation necessary. Insights into Editorial. But even after 2 years of forming the government NDA was not able to fulfill the promise. The first half of the last fiscal year that is the period prior to demonetisation recorded a real growth of.

Prime Minister Narendra Modi governments action to demonetise high value currency was an important and necessary step to crack down on corruption and tax dodging State Department Deputy Spokesperson Mark. Rate of Inflation goes down Prices of commonly consumed commodities like Pulses fruits vegetables had gone down substantially post demonetization. During the last two years demonetisation has been analysed and commented upon continuously by a number of researchers and commentators.

Success points India has marched on the path of digital transactions at a much faster pace. This fact alone makes demonetisation one of the most important monetary events in recent global history. NDA Government was elected in 2014 with one of the major promise of eliminating the Black money from the country.

Calling the criticism by political parties over the RBI report as politically. Key points describing success of demonetisation are. Data released by the Central Statistics Office CSO showed the economy grew 57 in April-June the first quarter of the current fiscal year slower than the previous quarters 61.

Now a proven failure. With state elections being held in many sta. Why exactly did this Modi government take the action whether the reason was economic or political did.

Demonetisation is a necessary condition for changing the old currency with the new units of money. Big industries in India have access to. Once these kinds of deposits come into the system there will be an all-round reduction in interest rates.

It may involve the introduction of new notes or coins of the same denomination or completely new denomination. The currency has been demonetised thrice in India. Demonetisation is the process of ceasing a unit of money of its status as legal tender.


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