Modi’s daring step “Demonetization” completed 1 year: what results achieved from this? let's see

“Demonetization” which Indian Government taken a daring step with the aim of control, bring back of block money, control the fake currency which holds by anti social elements like terrorists, especially belongs to Pakistan terrorists by dismissing Rs. 1000/- and Rs. 500/- currency notes.  The daring step “Demonetization” completed one year, which taken on 8^th November, 2016.

After a crucial decision of “Demonetization” many political parties including supporters and opposition parties responded somewhat negative way irrespective of common people response.  Also corporate companies, electronic media channels responded on Demonetization somewhat negative only. Especially, the electronic media channels did not presented even single story in a positive angle, they usually presented its affects in a negative angle only without actual common people felt about this “Demonetization”.  As a responsible media, they should tell the benefits and aim of “Demonetization” to the public to understand the Government decision, but, they were broadcasted negative feedback only on it till to date.  

As completed one year period from implementing of Demonetization, the Indian Government advised to celebrate this day (8^th November) as “Anti Block Money Day”.  Whatever it may be, the “Demonetization” remained some negative results, not succeeded its aim to bring back the block money from big financiers and corporate people up to the mark.  But, we should appreciate to take a daring and sensational decision for the benefit of country by Indian Government.  Let’s see what victories achieved by Indian Government through implementing “Demonetization”.

Huge Block Money extricate for the first time in Indian History:

The people deposited 33% of money among 0.00011% of Indian population.  The tax profile did not compared with liquid cash transactions of 17.73 lakh cases.  Observed Rs. 3.68 lakhs of suspicious cash deposits in 23.22 lakhs of accounts.  The currency notes of high denominations were reduced up to Rs. 6.0 lakhs of crores.

A huge encounter to Terrorism and Naxalism:

There are remarkable reduction up to 75% in the cases of protests in Kashmir against Indian Government by attacking innocent muslim youth, who have been funded by terrorist companies with fake Indian Currency.  Many witnesses shown that lakhs of Indian fake currency wasted at Pakistan and its sponsoring terrorist agencies.  Left provocative terrorism like Naxal incidents are reduced up to 20% and as per the record there was 7.62 lakhs of fake currency find out at the time of demonetization.

Cleanser the Indian Economy:

The company “Shell” brought out its secret operations like, illegal operations like Hawala and Block Money to White and recovered Rs. 2.24 lakhs from the company with attacking on it and closed.  Confiscated 58 thousands of Bank Accounts, which belongs to 35 thousands of companies, who made Rs. 17.0 thousands of crores of cash transactions after demonetization.

Tax Payers increased:

In 2015-16 year, the new tax payers were 66.53 lakhs and increased to 84.21 lakhs by 2016-17 year, it is known that 26.6% increased.  E-returns were 2.35 crores and now it is 3.01 crores in current year 2017-18, it is known that 27.95% of increase in E-returns.  Situated cleanser Indian Economy observed by converting people from high to less transaction of liquid cash, as a result of this, 87 crores of deposits recorded in August, 2016 and it is now observed as 138 crores of deposits during August, 2017.  This is known as 58% of increase.  15.11 lakhs of POS machines were recorded up to the “Demonetization” and the number increased up to 13 lakhs in addition to previous number of machines within one year only.  Several benefits observed by implementing “Demonetization” like decreased interest rates on loans taken by the people, Real Estate rates decreased and income increased to the local bodies like municipal, etc.

Tags: narendra, modi, narendra modi, india, demonetization, currency, notes, dismiss, anti block money day, 2016, 2017.