Demonetization – Has Black Money Eliminated?

Demonetization – Has Black Money Eliminated

On the same day last year Nov 8th 2015 Prime Minister Narendra Modi made sudden announcement regarding ban for Rs. 500 and Rs 1000 that shocked the entire nation. New Rs 500 and Rs 2000 notes were introduced and max percent of transactions are made via bank. BJP told this was to encounter fake money and terror financing.

All really patriotic people believed this movie could eliminate black money from India and could be turning point for bright India. They welcomed the move of this but common people suffered a lot due to this demonetization at that time.

Nearly 150 people deaths were reported due to shock and other related issues. The mid-class employees, small-to-medium business sectors and rural people have badly suffered. But bearing all those things believing it will eradicate black money.

But as of now some trade experts say demonetization is not successful. It did not eradicate black money, moreover it made the entire nation to collapse and downfall of economy. The opposition party leaders and others are trolling BJP and calls demonetization as the ‘organized loot’.

Meantime PM Modi thanked people for supporting demonetization and making it success. He stated “I bow to the people of India for steadfastly supporting the several measures taken by the Government to eradicate corruption and black money. #AntiBlackMoneyDay”