The essay will discuss the impact of demonetization on students and how it is a form of censorship. It will also discuss the effects of this policy and offer solutions to circumvent these issues.
The essay based on demonetisation is an essay that discusses the effects of demonetization. It was written by a student and can be found in the Education section of our website.
The demonetization of currency is the process of removing the money from circulation. The demonetization of money occurs when a country’s government chooses to remove old notes from circulation and replace them with new ones. As a result of the many difficulties in the country’s economy, and as a result of this process,
By demonizing existing notes and introducing new ones, the issues may be solved quickly. In this process, the circulation of old money ceased, and the production of new currency began.
The Indian government has begun the process of demonetization, and it has just outlawed 500 and 1000 rupee notes, replacing them with a large number of 2000 rupee notes. The Indian government has orchestrated a massive money-replacement initiative.
Demonetization: What Is It Good For?
When a nation has a large issue with corruption and black money, this technique of demonetization makes it extremely simple to learn about the corruption and black money that has been hidden by the country’s citizens. Through this technique, corrupt money would emerge because individuals would have to trade their money at a bank, and when exchanging, corrupt money would emerge since there would be no record of it.
People who do not pay taxes and retain their tax-paying money and engage in corruption will find it extremely simple to pay taxes using this technique because there will be more money to be traded and therefore more tax will be guaranteed to those people’s money. Some nations have utilized this technique of demonetization for trade reasons in the past.
In certain countries, the process of demonetization is underway.
This demonetization process was introduced in the Indian government by Prime Minister Narendra Modi as a bold step against the problem of black money and corruption, and these demonetization processes were introduced on the notes in November 2016. Introducing this system in the Indian government was not an easy task; it was a major decision that the government made.
The unexpected announcement of money demonetization in the nation by the prime minister caused panic across the country, and there was widespread misunderstanding over the demonetization of the currency. While the general public was perplexed by the procedure, the media, economists, and responsible individuals attempted to educate the general public about the step and explain its advantages. With the announcement of the note, the government has taken a number of measures to benefit people, such as allowing individuals to open free bank accounts via the Jan Dhan Yojana and conduct their transactions through it.
There are many benefits to the Indian economy as a result of this process, such as the removal of black money and corruption, and the people who do not pay taxes are more likely to pay as a result of this method, but there are also drawbacks, such as poor people and workers losing their jobs, and their regular play being halted, and people having to go to banks for currency exchange.
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