Monday, 21 November 2016
Black money in India has become a very sophisticated and delightful incident which is an illegal flow of money. This black money can be elevated around the world easily & rapidly, which could subject to the economy to a potential threat. Even though the citizens of India are facing huge problems, this resolution would benefit the Indian economy in positive variation.
Now citizens of India are shocked & surprise to know that the Govt of India has banned using Rs. 500 & Rs. 1000 Notes effective from 8pm, 8th Nov, 2016, Under Mr. PM Modiji’s Guidance. This seems to be a great Bold Move to fight against Corruption. Because black money in India got a commonplace of exchange. And it is practically impossible to trace black money. These encompass of bribes, corruption of public property, and illegal land transactions.
The Strange thing is Rs. 500/- & Rs. 1000/- has no more value; It’s just treated as waste paper hence. This will certainly force the people who have a huge amount of black money to disclose it. And historic step of changing currency or action against the corruption would undoubtedly stop funding smugglers, terrorists and so many other unconstitutional activities.
The government has allowed Peoples to exchange the existing Rs.500-1000 notes. The time frame for the same is about 50 days, i.e. till 30th Dec 2016. This Exclusive scheme was fired to import black money back, which is being accumulated in foreign countries.
Well, Now a Market is appropriating the high prospect that the move will be good for the Indian Economy. Indian Government has authorized the instruction of the Reserve Bank of India to issue Rs. 2000/- notes and new notes of Rs. 500/- will also be arranged in circulation.
Our Proudly Prime Minister Mr. Modiji announced that the steps taken by the Government would strengthen the hands of the common citizens in the fight against corruption, black money and counterfeit notes. A time-tested commitment to eradicate black money The Prime Minister has time and again said that the Government is committed to ensure that the menace of black money is overcome.