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Demonetisation Essay 400 Words. Demonetisation is a process of invalidating the currency of a country by its government. It means the demonetised currency will lose its legal tender value and that could not be used for transaction in future. Demonetisation is necessary whenever there is a change of National currency. The old unit of currency.
Why The Demonetisation Drive Violates Our Fundamental Right To Life What’s going on is a clear violation of Article 21 of the Indian Constitution.
The primary pitch and narrative of the demonetisation drive by Prime Minister seems to have taken a major shift to cashless economy from the initial key highlights of war against black money.
Essay on Demonetization. Demonetization is a process in which a currency unit is no longer considered as a legal tender, and a newer version replaces it. Many governments across the world have taken this measure to curb black-market and stop counterfeiting of currency notes. While some countries were successful, others failed miserably in their goals behind demonetization. Let us have a look.
In a historic move towards ending corruption, Black money, money laundering, terrorism and financing of terrorists as well as counterfeit notes, the government of India announced a massive demonetization drive on 8 th November 2016. In a live address to the nation, Prime Minister declared circulation of all rupee 500 and rupee 1000 banknote as invalid and announced the issuance of new Rupee.
Resurgent India the demonetisation drive of Rs. 500 and Rs. 1000 notes in November 2016 impacted positively on the economy and it also provided a logical climax to the series of initiatives taken towards to curb the three-pronged menace of black money, counterfeit currency and corruption. Setting up of a SIT collaborated with Swiss Bank to deal with investigations on individual cases of tax.