Demonetisation didn’t happen overnight or say on the day of Nov 8th
There was very serious Income Tax Declaration ADs and timely clues of Digitalization was happening in parallel. One or the other speech of Modi did say and mention about Black money and the effort he has put in his office has given the output which we call it execution.
Pradhan Matri Jan-Dhan Yojana was announced by our honorable Indian Prime Minister Mr. Narenda Modiji on his first independence Day Speech of 15th August 2014. This scheme is nothing but foundation. It was very well planned to reach out to the grass route to empower rural people to various financial services and link it to other immediate Government benefits like pensions, subsidy and insurance with other banking products at later stage.
Doing so this could give good results in long term over economy at the same time slowly eradicate corruption to some extent. Of late corruption was so much like weedy all over, officials and bureaucrats had their own reason to be corrupt, they could have got government jobs with some influence and hence payback time, during selection proceed to civil services, pressure from superiors if not supporting bribery hierarchy through political pressure. Personal grudges and caste favoritism or also fear of transfers. All these reasonable facts would make them be a part of corrupt system.
Over years it has become corrupt network and the whole system is spoilt. I honestly feel this Demonetisation is a very good move.
What is your thoughts on Demonetisation?
Can Demonetization help slow down corruption?