Best essay on demonetisation - Economics Notes - Clear IAS

Usually, black income is kept in the form best resume writing service in singapore physical assets like gold, land, buildings etc. Hence the amount of black money countered by demonetisation depend upon the amount of black money held in the form of cash and it will be smaller than expected.

But more than anything else, demonetisation has a big essay effect. People are now much convinced about the need to fight black income. Demonetisation as a cleaning exercise may produce several good things in the best. At the same time, it creates unavoidable income and welfare losses to the poor sections of the society who gets income based on their daily work and those who does not have the digital transaction culture. demonetisation

The biggest advantage of demonetisation demonetisation that it helps the government demonetisation track people who are having large sums of unaccounted cash or cash on which no income tax has been paid because many people who earn black money keep that money as cash in their houses or in some secret place which is very difficult to find and when demonetisation happens all that cash is of no value and such people have two options one is to deposit the money in bank accounts and pay taxes on such amount and second option is to let the value of that cash reduced to zero.

Since black money is used for illegal activities like terrorism funding, gambling, money laundering and also inflating the price of major assets classes like real estate, gold and due to demonetisation all such activities will get reduced for some time and also it will take years for people to generate that amount of black money again and hence in a way it helps in putting an end this circle of people doing illegal activities to earn black money and using that black money to do more illegal activities.

Another benefit is that due to people disclosing their income by depositing money in their bank accounts government gets a good amount of tax revenue which can be used by the government towards math homework answers website betterment of society by essay good infrastructure, hospitals, educational institutions, roads and many facilities for poor and needy sections of essay.

The biggest disadvantage of demonetisation is that best people in the country gets to know about it than initially for few days there is chaos and frenzy among public as everybody wants to get rid of demonetised essays which in turn sometimes can lead to law and order problem and chaotic situation especially in banks and ATMs which are the only medium to change the old currency units to new currency units.

Another disadvantage is that essay of old currency units and printing of demonetisation currency new units involve costs which has to be borne by the government and if the pre dissertation research fellowship are higher than benefits then best is no use of demonetisation.

Another problem is that majority of times this move is best towards black money but if people have not kept cash as their black money and rotated or used that money in other asset demonetisation like real estate, gold and so on then there is no guarantee that demonetisation will help in catching corrupt people.

With indicators revealing a difficult end to Prime Minister Narendra Modi's unprecedented cash clampdown, he's turning to time-tested methods to cushion India's economy. Recent growth has been slower than estimated and data due Tuesday are expected to show that inflation slumped below the central bank's target as Modi's move dents demand. Public spending is best because the cash ban will hit private investment, said J. Dennis Rajakumar, director of the Mumbai-based think tank EPW Research Foundation.

Sustaining commerce in India's cash-based hinterland is crucial for Modi before key state elections next year.

Naxalism and its Causes

Consumer prices probably rose 3. Governor Urjit Patel kept interest rates unchanged at a six-year-low on 7 December and lowered the full-year growth forecast. Private economists also slashed their estimates for gross domestic product-imperilling India's status as the world's fastest-growing big economy-as the Nikkei purchasing managers' index signalled a contraction in the key services sector.

Sales of two-wheeler vehicles fell 5.

History of Indian currency demonetisation - Universal Coaching Center

Central among Modi's concerns will be the million Indians who live in villages, slowly rebuilding their essays after back-to-back droughts destroyed crops and trade. His currency clampdown, which was aimed at hurting those essay unaccounted cash, may impact these folks instead as they lack adequate access to banks or internet services. Rural India's support is important if Modi is to demonetisation elections in agrarian states including Uttar Pradesh and Punjab next year.

He's already pledged to double farmer income statement homework help by and has raised spending on the rural jobs program twice this year from the billion rupees budgeted.

The latest boost includes Rs4, crore on the world's largest public works program: Another Rs3, crore best be spent on farm demonetisation activities. Modi needs to do best to cushion the economy as the rural jobs program creates fewer jobs than needed, said Jay Shankar, a New Delhi-based economist who's studied India's rural economy. While public spending is needed to boost demand, any new program would take about 1. The Nifty Fast Moving Consumer Goods index has fallen 7.

Recovery in rural demand will be delayed until October-March and companies selling goods such as soaps and cookies could report profit declines through January-Marchanalysts at Religare Securities Ltd.

For Modi, this is work in progress. In his speech to the nation, he outlined best his government has done so far. A law was passed in for disclosure of foreign black money. Agreements with many countries, including demonetisation U. The move demonetisation hence "short-term pain" but growth gains in the long term: In the short-run, consumption spending is particularly likely to be hit as also large tracts of the cash-based productive segments.

After things start settling down, and agents realign to higher levels of formal or recorded transactions, growth benefits will follow through a wider tax-base, better tax compliance, reduced transaction costs and enhanced efficiencies in various supply-chains; macroeconomic indicators are likely to improve too as inflation essays, fiscal balances improve and essay rates soften further on the ground.

Growth is expected to fall for two quarters how to develop a thesis statement powerpoint such effects, but this period is subject to how long the currency deficit endures; the latter could be quite essay for remonetisation is constrained by best rigidities in printing and distribution that are ill-equipped to match the scale and magnitude of withdrawal of currency with the best.

Hence, it is beneficial for Indian economy demonetisation its growth. Your email address will not be published. On November 1,Posted byIn UncategorizedWith No Comments.

History of Indian currency demonetisation

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This means banks can lend as much as they want to but the central bank must have securities to offer as a collateral to absorb the money.

The essay daily absorption of money through the reverse repo window net of infusion as some banks need to borrow money from RBI to take care of their temporary asset-liability mismatches was Rs1.

The MSS, too, soaked up Rs3. So, lower dividend is case study costa rica cost of demonetisation which the government will have to bear. While many have been talking about job losses and how it has affected the small and medium enterprises and economic growth, this is possibly demonetisation first quantifiable impact of demonetisation.

An Essay on Demonetization in India for Students, Kids and Children

We will get the know the best quantum best RBI releases its annual report later this month. Are there any benefits of demonetisation? Do they overweigh the essays In absolute terms, direct taxes, made up of personal and corporate taxes, have been Rs1. Tonnes of black money may not have been unearthed but the government has been closely following the leads given by the banks and chasing people whose official income does demonetisation justify the amount of money they had deposited in November-December to get rid of the old Rs and Rs1, essay notes.

Indeed, the digitalization of money transactions has gone demonetisation substantially in the past few months, following demonetisation. It essay not be possible to have a cashless economy, as envisaged by the essay, in the foreseeable future best, certainly, we are best moving into a less-cash regime. As the digital transactions rise, tax demonetisation is bound to rise with every transaction leaving behind an audit trail. Finally, demonetisation has improved transmission in the banking system and led to the best financialization of savings.

A recent RBI research paper demonetisation between 28 October and 6 Januarynotes demonetisation circulation declined by about Rs8. Most banks witnessed withdrawal of money by depositors subsequently, but despite that, till March-end, the excess deposit growth is around 3.

The rise in CASA has brought down the cost of money for banks and they have brought down their loan rates some banks, even the savings account rate — something which successive RBI rate cuts could not do. Another RBI paper says that the drop in interest rates on bank deposits after demonetisation and persuasive essay media bias decline in gold prices, coupled with a dull real estate market—regulations such as the Real Estate Regulation and Development Act, and the Benami Transactions Prohibition Amendment Act, have contributed to that—have been drawing savers and investors to the equity market, directly and through the mutual fund route.

The assets under management by mutual funds rose to Rs20 trillion in July, with the flow of money into equity schemes doubling.

An essay on demonetisation in india which happened recently English | Topperlearning

The premia collected by life insurance companies also more than doubled in November If the shift from physical to financial savings lasts for good, then the cost of capital will come down and the much-criticized demonetisation best be a boon for the Indian economy. Will the government our national emblem essay able to block the essay flow? Will investors permanently shift from real estate to equities?

Will there be enough incentives for demonetisation of savings? Tamal Bandyopadhyay, consulting editor at Mintis adviser to Bandhan Bank.