Demonetization - A master stroke
It is imperative to be well informed and aware before reaching the conclusion. This article may help us decide a various factors we missed and would therefore result in enlightening the mass.
We live in a country where Media plays the most important role in deciding what gets delivered to the Mass. This can have an adverse effect on the true picture and we often believe in what is shown. There is a possibility that media will cover what is interesting and more selling
We need information, facts, evidences and the truth. This can only happen when we don't reach conclusions without having enough information on the subject. Prior warnings and drives were conducted across the nation to warn and recover black money
Source : Scroll
“For all those who are still willing to come in the mainstream, I have said this in public that 30th of September is your last date. You may have made mistakes with whatever intentions. Whether it has been done willingly or unwillingly, here is your chance. Come into the mainstream…no one should blame me if I take tough decisions after the 30th Sept.”
Eventually, more than Rs 65,000 crore was declared under the scheme, which is expected to yield tax collection of Rs 29,400 crore.
The reaction of some uninformed citizens is questionable and surprising. Some people are rejecting the change without reasoning and evaluating statistics.
Social media or messenger groups have often been our source to gain information. I urge the country to read, follow and watch the experts and certified sources to be thoroughly informed.
When we buy a phone or a gadget, our research is not based on word of mouth. We research features, compare prices, durability, brand and trends. What stops us from carrying out the similar research to decide the change in the country?
True Picture - The benefits
Fake Currency: It is a common sense to understand that all fake notes in the country has now turned into scrap. The impact of this is positive and this cannot be disputed. Some knowledge on economics would help understand that there is no doubt about this benefit.
Cashless India: As per SBI, the average daily deposits were recorded at nearly 400 crores. Post the decision, the total cash deposits recorded in last 2 days has reached 45,000 crores. When the cash of the country is consolidated and tracked, there are numerous economical benefits that follow.
This enhances the lending power of the banks and NBFC. This is likely to result in lower interest rates on home loans and unsecured loans. it also allows the government to plan a concrete budget year on year. Governance over our economical situation and wealth will improve. Banking stocks on Friday, 11th November, moved up by 18%. This is a historic upliftment in banking sectors and Indian stock markets have never witnessed this before.
Most transactions, especially the larger transactions, take place in form of cash and can never be tracked by our government. Banning 86% of countries cash and replacing it with new currencies does have enormous benefits
Real estate: Real estate market is largely depended on the inflow of black money. Most builders refuse to sell the property against 100% white money. All the black money stored in denomination of 500 and 1000 is no longer valid. This will discourage buyers and real-estate market will observe a downsize.
Stronger Economy and Deflation: As per RBI, its anticipated that not all notes will return and there is a large portion of cash that will be trashed. Under the situation, if RBI is not able to recover 30% of the discontinued currency, RBI's liability towards this currency will be eradicated. This translates into revenue benefits of 350,000 crores for RBI
Black money and corruption: This part has raised a lot of controversies and we have people praising as well as condemning the change. There have been numerous baseless arguments floating on social media on the subject. This change does trap a large amount of black money in the country and curbs corruption. Its a governance model that is meant to control the defects in the system, The model is being designed and this is merely a first formation.
Only time will tell us what will happen next. May be, the nation will observe stricter actions towards culprits and all allegations against this move may be proven wrong. The truth of matter is this change has burned down some portion of black money and it does curb corruption to a large extent.
A number of news channels, news papers, media and publications within and outside India have praised this bold move of our prime minister, On one hand we have experts, celebrities and economists applauding for the prime minister and on the other hand we have our own manipulative sources and people misguiding the country.
We didn't react when the nation was bleeding in poor economy, inflation, corruption and crime under the governance of UPA. However, we find it convenient to target one man who spends 18 hours of his day in servicing the country.
The unseen story
When media was highly engaged in covering the inconvenience of Indian outside banks and ATM queues, our prime minister continued to write history. We shamelessly ignore his dedication towards the enhancement of the country. He initiated a revolution on 8th November and didn't stop post that as well.
PM Modi, after announcing demonetization, left for Japan. No body spoke about the milestones he conquered in Japan. Had the media done their job and demonstrated journalism, a lot could have been on what happened in Japan.
We coldly disregarded the accomplishment on nuclear deal, bullet train project, stronger strategic relationship and improved commerce between 2 nations.
More information:
Courtesy: Hindu Times
Mr. Modi recalled his association with Hyogo Prefecture and his visits to Kobe, a city on the Osaka Bay, in 2007 and 2012, at a luncheon gathering of business leaders here, .
Mr. Modi, who travelled to Kobe from Tokyo in the high-speed Shinkansen bullet train along with his Japanese counterpart Shinzo Abe, was received at Hyogo Prefecture guest house. The Governor of Hyogo Toshizo Ido and Mayor of Kobe Kyuzo Hisamaoto were present.
An agreement has been signed between the State of Gujarat and Hyogo Prefectural government to promote cooperation between them in academics, business, culture, disaster management and environmental protection.
“A stronger web of state and provincial connections. The leaders witness exchange of MoU of Coopn between Gujarat Govt and Hyogo Prefecture,” External Affairs Ministry spokesperson Vikas Swarup tweeted.
Thanking Governor Ido for his valuable efforts two develop relations with Gujarat, Mr. Modi said ties between the two sides is characterised by complete trust and mutual confidence.
“Greater participation and engagement of industries in Hyogo will benefit Japan and India’s MSME sector for which it could prove transformational,” he said
The Prime Minister noted that the Indian community in Kobe had a long history of trade and commerce. “I congratulate all residents of Kobe on forthcoming 150 years of its port,” he said
We live in country which is world's largest democracy. It is important to put forth your views and opinion however, it is even more imperative to be educated and informed. Conclusions without knowledge is harmful and misleading. I hope to see improved acceptance by people and strongly feel that "Ache din aa gaye hain"
