A quick initiative taken by Indian government towards destruction of Black Money as well as fake currency on midnight of 9th November 2016 misbalanced the base of Indian Economy. No doubt, this ‘master stroke’ taken by Mr. Narendra Modi is really an appreciable one and it proves that he is a real player of political field. Modi silently planned this initiative which will destroy many illegal activities still going in India. Modi proved that he is a real man who can change India; he pulled off a major political and publicity coup and substantially enhanced his reputation by taking such a huge decision.
No doubt, Modi proved one of the proverb wrong at this situation “Two targets with one stone”, this can be rephrased as “Many targets with one stone”. As per my estimation there are lot many things which comes up in form of great decisions. Firstly, it has eliminated the funding of black money from terrorist. Secondly, there is a strict action going on those who are trying to convert their illegal cash into real cash and this will really overcome corruption and black money. Thirdly, evaluation, target and restricted actions are taken by Indian government if anybody comes in hand with black money by installing CCTV cameras in banks. Two things comes out with this all – corruption and tax evasion which had been a great problem of India since long and initiative of Modi will really eliminate these two hurdles which are the major cause of downfall of Indian Economy.
Ramneet Singh Ratan
B.Com II Year