Choose your reason below and click on the Report button. Demonetisation 'butchered' Indian economy: As a first step the government had urged people to create bank accounts under Jan Dhan Yojana. sample dissertation acknowledgement letter Those individuals who have unaccounted cash are now required to show income and submit PAN for any valid financial transactions. My Saved Articles Sign in Sign up.
They are running to the banks to exchange, deposit or withdraw notes. The ban on high value currency will also curb the menace of money laundering. proquest thesis database usyd The announcement of the demonization of the currency has caused huge inconvenience to the people. In the current context it is the banning of the and denomination currency notes as a legal tender.
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All cost and little benefit. We cannot ignore the benefits of digitalisation of cash transactions and a definite move towards a less-cash economy. Finally, it is an attempt to make a cashless society and create a Digital India. The opinions expressed in this column are that of the writer. The government is saying that there are only advantages of demonetization policy and this will be seen in the long term.
Demonetisation achieved objectives quite substantially: Every such transaction leaves a trail behind and makes sure that more and more people will come into the tax net. We also need to take into consideration the rise in cashless transactions.
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Many say this benefit is an afterthought. Views expressed above are the author's own. thesis report format It is also finding it difficult to put new currency into circulation.
They can now deposit their cash under this scheme and this money can be used for the developmental activity of the country. Defence Defence National International Industry. writing service online from home for beginners The opinions expressed in this column are that of the writer. The government has taken few steps in this direction much before its November 8, announcement.
This clearly shows, no black money was confiscated, they are saying. It has to bear the cost of printing of the new currency notes. help on essay human rights in india This move will stop the circulation of fake currency. Your Reason has been Reported to the admin.
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The sudden announcement has made the situation become chaotic. Going forward, tax compliance will rise further. Choose your reason below and click on the Report button. Should we regret this?
Read more on Black Money. Rahul blames joblessness, demonetisation, GST for lynchings. We cannot avoid short-term pains for long-term gains. As a first step the government had urged people to create bank accounts under Jan Dhan Yojana.
We must remember the demonetisation is one of a string of steps that the government has been taking to attack black money. Second it is done to curb black money, third to control escalating price rise, fourth to stop funds flow to illegal activity, fifth to make people accountable for every rupee they possess and pay income tax return. This will alert our moderators to take action. My Saved Articles Sign in Sign up. Going forward, tax compliance will rise further.