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Demonetisation Essay - Personal Skills PDF Download
Demonetization is one of the most trending topics which occupied the columns of Indian newspapers in 2016. INDIAN PM Narendra Modi took a bold step against the black money holders by declaring demonetization in November 2016. Initially, implementation of demonetization in a populous country like India was not a cakewalk for the government.The sudden declaration of demonetization in the country has created lots of chaos and confusion among the common people of the country, but gradually everything becomes normal. But as a result of demonetization in the country, an essay on demonetization (simply we can say demonetization essay) or article on demonetization has become a common question in different board exams for the students there is a sudden demand of Demonetization essay among the students. Hence, GuideToExam brings to you the ultimate solution by providing you all your needful information regarding demonetization essay.
The discontinuity of a particular currency from circulation and a replacement of it with a new currency is called Demonetization. In the present setting, it is the restricting of the 500 and 1000 section money notes as a lawful delicate. In other words, it can also be said that A demonetization is an act of stripping a currency unit of its status as legal tender. It occurs when a particular form of money is pulled from circulation and a new note or coin is introduced in the market as a replacement of withdrawn form of money.
Objectives of Demonetization
The government has different objectives behind this demonetization. The first and foremost objective is to attempt to make India a corruption free country. In his different speech on demonetization Indian Prime Minister Narendra Modi clearly, points out that this bold step has been taken to get a control over corruption in the country. Secondly, it is done to curb black money, thirdly it is also a step to control escalating price rise, fourth to stop fund flow to illegal activity. On the other hand demonetization in India is also a very well planned step of govt of India to earn proper tax from the citizen. With the help of a different article on demonetization or essay on demonetization in different media, economist and responsible citizens tried to make the common people aware of the benefit of this steps taken by the government.
The discontinuity of a particular currency from circulation and a replacement of it with a new currency is called Demonetization. In the present setting, it is the restricting of the 500 and 1000 section money notes as a lawful delicate. In other words, it can also be said that A demonetization is an act of stripping a currency unit of its status as legal tender. It occurs when a particular form of money is pulled from circulation and a new note or coin is introduced in the market as a replacement of withdrawn form of money.
Objectives of Demonetization
The government has different objectives behind this demonetization. The first and foremost objective is to attempt to make India a corruption free country. In his different speech on demonetization Indian Prime Minister Narendra Modi clearly, points out that this bold step has been taken to get a control over corruption in the country. Secondly, it is done to curb black money, thirdly it is also a step to control escalating price rise, fourth to stop fund flow to illegal activity. On the other hand demonetization in India is also a very well planned step of govt of India to earn proper tax from the citizen. With the help of a different article on demonetization or essay on demonetization in different media, economist and responsible citizens tried to make the common people aware of the benefit of this steps taken by the government.
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FAQs on Demonetisation Essay - Personal Skills
| 1. What is demonetisation? |  |
Ans. Demonetisation refers to the process of stripping a currency unit of its status as legal tender. In simpler terms, it is the act of declaring certain currency notes or coins as no longer valid for transactions.
| 2. When did demonetisation take place in India? | |
Ans. Demonetisation in India was implemented on November 8, 2016, when the government announced the sudden withdrawal of ₹500 and ₹1,000 banknotes as legal tender.
| 3. What was the objective behind demonetisation in India? | |
Ans. The main objectives of demonetisation in India were to curb black money, eliminate counterfeit currency, promote digital transactions, and reduce the circulation of unaccounted cash in the economy.
| 4. How did demonetisation impact the Indian economy? | |
Ans. Demonetisation had both positive and negative impacts on the Indian economy. On the positive side, it led to an increase in digital transactions, widened the tax base, and reduced the circulation of counterfeit currency. However, it also resulted in a temporary slowdown in economic growth, particularly in sectors dependent on cash transactions.
| 5. Did demonetisation achieve its intended goals? | |
Ans. The effectiveness of demonetisation in achieving its intended goals is a matter of debate. While it did have some positive outcomes such as increased digital transactions and a broader tax base, the extent to which it curbed black money or eliminated counterfeit currency remains uncertain. The overall impact on the Indian economy is still a subject of discussion among economists.
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Sep 08, 2025
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