Demonetisation of Currency: Success so far

I would like to start my Article with

A kashmiri middle class man Afzal Rehman who wrote a open letter to PM Mr Narendra Modi.

He wrote...

“The whole India thinks about Black Money but Kashmiris think about survival. We never thought this decision of yours would give us our lives back, but it certainly did.
There wasn’t any stone pelting on streets, though the forces were there but pelters were not. Within one or two days traffic started moving in the valley. We opened our shops, there were people in the market. We could certainly see some happy faces.

With all this positive happened- We all sat together and started talking about what went well? We came to the conclusion that these separatists have had only 500/1000 rupee notes which no one is taking now.
I don’t know what rest of India thinks but we in the valley are very happy with the decision.”

Exploring from Past history I come to know that

Similar demonetisation of banknote denominations have been taken in the past. In January 1946, banknotes of 1000 and 10000 rupee were withdrawn and new notes of 1000, 5000 and 10000 rupee were introduced in 1954. The Janata Party coalition government had again demonetised banknotes of 1000, 5000 and 10000 rupee on 16 January 1978 as a means to curb counterfeit money and black money. But with time again Prime Minister Shri Narendra Modi  in an unscheduled live televised address to the nation at 20:15 IST. In the announcement, Modi declared circulation of all ₹500 and ₹1000 banknotes of the Mahatma Gandhi Series as invalid effective from the midnight of the same day, and announced the issuance of new ₹500 and ₹2000 banknotes of the Mahatma Gandhi New Series in exchange for the old banknotes.

In the present economical situation, black money has inflated prices in real estate, gold and a few other sectors, making it a challenge for a common Indian citizen to invest. However the government’s attempt to curb black money will significantly lower the prices in such sectors.

Demonetization would not only repair internal economic issues, but also tackles funding to terrorism. Counterfeit money is one of the main sources of funding for activities related to terrorism . Also, corrupted government officials and politicians who have earned in illegal ways will have no other option to put that money into usage.

Though there is some problems prevailing to people but for short time but for long time ease to them.

I would like to share,

An Inspiration story of a taxi driver, who sacrificed his share of money for a passenger carrying only Rs 500 notes, has set an example for fellow citizens. Furthermore he said “Even if I earn a little less money, it’ll slightly difficult to manage but that’s the case with everyone. I’ll consider this as my contribution to the country’s growth”

There is Applauding reaction from International Leaders and Magazine.

Singapore-based paper The Independent published a laudatory article on the move titled "Modi does a Lee Kuan Yew to stamp out corruption in India." Lee Kuan Yew was the Singaporean Prime Minister and is considered the architect of modern Singapore. "From making up his mind to rolling it out, a new Lee Kuan Yew is born in India. It will be reflected in the legacy of this Prime Minister”, the article said.

Beside this Justin Rowlatt BBC South Asia Correspondent, Vice President of European Commission Jyrki Katainen , Swedish Minister of Enterprises all praised decision calling it as strengthening indian economy.

The present demonetization process has laid trap for smaller rats; it has potential to break all illegal transactions in real estate, gold, and a few other sectors where circulation of unaccounted money has reached saturation point. However the dinosaurs are safeguarding their money overseas; recovering it should be the primary focus of the government.

Thank to all of you for your patience to Read this  Article !!!