Narendra Modi government’s move to demonetize high value currency notes would prove to be a nightmare for the black money holders and will greatly benefit the economy, this is what BJP President Amit Shah said in his press conference. He urged the political parties and people to join the campaign against corruption.
This PM Modi’s move is a surgical strike on the black money holders, fake currency which is being circulated in our country by Pakistan. While everyone is praising Modi’s move, the implementation of this decision has created some short term problems. It is causing a great deal of inconvenience especially for those people having marriage at home or some function.
This move will promote the digital payment and will prove to be a major boost for people to use digital means of transactions. However, the most impacted from this move will be the poor people, these poor people who reside in rural and urban people, they earn their daily wages in cash. And there are a lot more ramifications for the middle class people who have not adopted the digital banking facilities.