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What I think about Government of India's decision to demonetize Rs 500 and Rs 2000 Notes

This is a great step for curbing black money (acquired legally but tax not paid) and dirty money (acquired through illegal source) in India. The move is so unexpected that people have no time at all to remove their black money and now this would become simply a waste of paper for them.

I can't imagine any better move than this to eliminate black money from the country. However, its immediate impact is likely to be very adverse on the stock market and the sectors like real estate where lot of black money is used. Its impact on the other sectors would be as following.
  • The sale of gold and diamond jewellery would drastically decline. This means less foreign currency outgo and hence better balance of payment situation.
  • Corruption would be reduced drastically.Credit card and other legal transactions would go up
  • Taxes (Income Tax, Excise,, Service tax and Sales Tax) would go up substantially since more transaction would be in white
  • Criminal activities would reduce
  • Use of illegal money in election would be reduced drastically
  • Property rates would reduce drastically
  • There would, however, be a lot of chaos in first few days.
  • Then everything would fall in its place.

Importance Of This Decision
  • Government will track every single penny which is present in the form of Black Money in India.
  • Rising graph of Fake Currency will drop soon & from next time no one will check your 500Rs note.
  • This decision will help us to tackle against corruption as government will always have its eye on your transaction.

Now how it is going to kill corruption & Black Money, Right now RBI doesn't has record of every Indian in term of their financial situation, as government made AADHAR mandatory for individual identity similarly after this decision government will have record of our transactions also. So any future transaction will go through government scrutiny.  This way corruption will end so will the black money.
For innocents out there, one and only message: this pain is temporary but in reward you will see the best version of our country.

Keep following things in your mind:

Don't get rushed, everything is fine out there. Your currency is still valid you guys just to need to collect the new notes from bank or post office.If you face any emergency situation during this schedule such as hospital emergency or need to travel then don't have to worry. Government hospitals, Railway Ticket counters, Flight ticket counter accepting 500₹ & 1000₹ note

Online payment, Cheque, DD is not affected, so take a chill you can still use paytm, McDonald, flipkart etc. with the use of your card.If someone try to bully you that this is a big crisis & all, just don't listen to them. There is nothing like that.

I am with our Prime Minister. Comment your views, show your support to this bold & historic decision.

Shrey Kapoor is a Tech-Enthusiast, Harvard certified Cyber Security and Cyber Forensics Expert. He Founder, which is one of the India's Top Tech News Website. Even Forbes and many other renowned publishers took his articles reference. Shrey is a Technology analyst, strategic thinker and creative writer who is passionate to deliver the best, latest possible Tech-News to his followers and subscribers. He completed his masters in Artificial Intelligence & Robotics, certified in IPR, T.Q.M. & ISO 9001:2008 In Quality Management Systems.

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