This demonetisation essay will deal with the background, causes, effects, public opinion, advantages and disadvantages of demonetisation in India. Origins of the idea: Demonetisation has earlier occurred two times in the Indian economy , both times the goal was to combat tax evasion through black money. The first demonetisation occurred in , during the rule of the interim government under Jawaharlal Nehru. It was undertaken to target the tax-evading business corporations which were hiding the huge profits they had made by supplying the Allied powers in World War 2.
Demonetisation (Demonetization): Essay, Speech, Article, Short Note, Paragraph
Demonetization and Digitization of the Indian Economy
There was estimated cash of Rs The policy was a complete failure on this front. Come to think of it, will huge money launderers try to save their money from taxation and be careless enough to have it moving around in the economy? Hardly so, those versatile tax-evaders would have had their funds parked in safe securities in India or out of reach, outside of the economy. Even if they had it around, they very comfortably converted it all into legal tender through the route of money-mulers.
Impact of Demonetization on E- Commerce: Critical Analysis Introduction: India has seen a historic event on November 8, when the government announced demonetization with immediate effect. Demonetization of November and its Impact in India Abstract: Demonetization refers to the withdrawal of a particular form of currency from circulation. Demonetization is necessary whenever there is a change of national currency.
Demonetisation is going to be a landmark in the history of the Indian e conomy. It was an experience which might create fear in the minds of the people who indulge in illegal activities like tax evasion or money laundering of any kind. On November 8, , the Indian government declared that the and rupee notes will be stripped of their status as legal tender effective from midnight. Citizens were given time till December 31, to deposit their old currency notes and exchange them for the new currency notes of rupee and When a currency note of a particular denomination ceases to be a legal tender, it is termed as demonetisation.