Dec
05
2016
My Personal Reservations – Effects of Demonetization on Economy in India
This is my take on what I felt on day one when I read the news about “Demonetization”. The government has been changing the reasoning behind the move every few days since November 8th.
The decision lacks clarity on how those objectives will be achieved from this move.
Some of the objectives they listed are
- Corruption will be eradicated
- Black-money (Wealth earned without paying taxes) will be retrieved and penalized
- Society will move towards plastic (credit-card use) and eventually becomes a model cashless society
- Terror funding will be wiped out
I have spoken about some of these objectives and perception the government of India is giving us in the video below.
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