Demonetising Policy
After our independence, the most effective and bold policy which have ever taken is DEMONETISING POLICY. It not only strengthen our Economy but it also curbs the funding to terrorists, riots, and elections. Moreover, it makes all the fake notes of Rs. 500 and Rs. 1000 useless. It also able to make enter the black money into our banking system. But the most important effect is deflation which not only benefits the common people but it also helps to generate funds for the public expenditure. The steps taken by the Government breaks the backbone of the hoarders, blackmarketers, etc.
The successive steps taken by the Government make us believe that the present Government under the leadership of Shri Narendra Modi is the best leader in the world.
But in order to make the plan ineffective, some of the people which includes hoarders, blackmarketers, politicians etc. are taking every steps Just recently I have come to know that they are trying to deposits their ill-gotten money into the innocent people's bank account in exchange of half of the deposits. With the help of their agents they are contacting illiterate as well as literate people for this purpose. And I think if this is correct then it will make the plan ineffective.
Therefore, in order to come over this problem I am here suggesting following two steps:
- The Government should again introduce the Voluntary Declaration of Income policey by minimizing the penalty for not more than 15 days so that they are motivated to not do any other such kind of steps to make the plan ineffective.
- The RBI should directs all the banks to scrutinize all their customers' accounts, both saving and current accounts, by comparing their past 50 transactions habits with thier respective transactions which took place before 10 days of the introduction of the policy. Yes this procedure will take time but it will be the most effective measure to help the economy to prosper.
With regards, thank you.
