Demonetisation-2016 successful or failed in India:Today, six years of demonetisation took place in the country. On November 8, 2016, on this day, Prime Minister Narendra Modi announced demonetisation. At 8.00 pm, when PM Modi announced the ban of 500 and 1000 rupee notes, there was panic in the whole country. Its biggest blow was to the black money dealers and the corrupt. At the same time, the common people were happy with this decision of PM Modi. That is why on the call of PM Modi, he did not despair despite standing in the queue of ATMs for cash day by day. However, since then there is a debate going on between various political parties regarding demonetisation for the last six years. While BJP calls it a success, on the other hand opposition parties call it a failure. But what does Anil Bokil, the country’s biggest economist and father of economic revolution, have to say on this issue… In his view, demonetisation should be considered a success or a failure?… .
In a conversation with India TV, Anil Bokil said that if you tell the youth that let us give you back the day before November 8, 2016 and then ask them whether you will prefer cash or digital money … then 100 percent of the youth will say that We want a digital economy. Cash economy should have been reduced long back. So now demonetisation was right or wrong?…This issue is over. There is no longer a question of right or wrong here. Just believe that it was very important to happen. Not only this, demonetisation is also passed in the social audit, because PM Modi has won all the subsequent national elections. Elections are a kind of social audit. Then what more proof is needed that demonetisation is near?…Now we come to other important facts.
What would have happened if there was no demonetisation?
Anil Bokil says that if the government had not taken the decision of demonetisation, then the pace of work that is being seen today might not have happened. The economy of the country would have been completely destroyed. Because at the time of demonetisation, the denomination of 500 and 1000 rupees had gone up to 86 percent. Retail money was only up to 16 per cent. More notes of 500 and 1000 rupees had to be printed every year. Had demonetisation not been done in 2016, there would have come a time in two to four years that Rs 500 and Rs 1000 notes would have reached 90 to 95 per cent. Then the economy of the country would freeze completely. After this, demonetisation could not be done even if it wanted to. Then our condition would have been worse than Sri Lanka and Pakistan.
This big change came after demonetisation
Today the 5G that came so quickly. This also happened because of the digital economy. Now you will say that how?… At first, when 2G, 3G came, I did not even know. Later 4G also came and went. There was talk of a big scam in 2G. If there was digital money in spectrum auction at that time, then this might not have happened. Today 5G came so quickly and came with complete transparency, so the credit should go to demonetisation and digital payment system. Because there is no option left for corruption here. Otherwise even 5G would hang. With the advent of this service, now the flow of digital money will increase more rapidly. Along with this, the pace of work in all the sectors of the country will increase manifold. After demonetisation, making digital payments has become the biggest priority of the government. UPI ie Unified Payment Interface (UPI) has spread all over the world. The long lines in banks for depositing and withdrawing money were eliminated. Waste of people’s time stopped. People started making good use of their time elsewhere. That’s why I say that demonetisation should have happened long back.
If there was no digital economy, it would have been ruined in Kovid
When the disaster of Corona came in the country and the world, only digital economy came in handy in helping the people of the country. If there was no option of digital payment, then people without money would also have a lot of difficulties in creating emergency health infrastructure for Kovid. No supply chain works without money. Everyone was afraid of losing money. No one does business without taking money. In this way people would be forced to die. But due to the same demonetisation, only the digital payment system came in handy for the people.
Big action on corruption
Anil Bokil says that due to the increase in the flow of digital money, today the government is taking big action on corruption. Cash transactions have come down significantly. This is suffocating the corrupt. Earlier only black money was spread all around. Now it is decreasing. The flow of black money and corruption in the land also reduced significantly. Not only this, gradually now politics is also getting clean. Because they are also facing problem in cash transaction. Political parties don’t have as much cash as they used to have. But for this, all political parties should now reduce black money. Transfer white money through election commission.
India’s growth is highest due to digital money
Anil Bokil said that due to digital money, India’s growth in today’s time is the highest in the world. Today we have become the fifth largest economy in the world. Our economy has reached near three trillion. Now it will reach 5 trillion soon. Think why India is growing more than China and why China’s growth is slowing down and India’s growing?..The reason for this is digital economy.
Why did unemployment increase after demonetisation?
The only question before the country is that if demonetisation was successful then why did unemployment increase? Questions are often being raised by the opposition in the country on the rise in unemployment due to demonetisation. In response to this question, Anil Bokil says that “Demonetisation” was very important for the country. This has already been told to you with facts. It is true that unemployment has increased after demonetisation, but it is not because of “demonetisation”, but because of the black money being hit in the market. Earlier there was only black money flow in most of the sectors. So there were more jobs. Many such small and big sectors faced difficulty in surviving on white money. Because of this people were fired from jobs. Earlier most of the workers were paid in cash. He had no account. Because it was mostly black money. Now I have to pay white money. Labor is not available for less money. Because of this employment decreased. Now the government has to increase the flow of white money in this sector and it is also doing it. But it will still take time. After demonetisation, GST gave more life to the economy. This also widened the scope of tax payers. That’s why demonetisation was very important.
Venezuela and Pakistan could not do demonetisation
Anil Bokil says that after demonetisation in India, two more countries were trying to do the same. One of them is Venezuela and the other is Pakistan. But after seeing the reaction of demonetisation in India, he did not dare. Look at the condition of those two countries today. Had India also not been able to do demonetisation at that time, our condition would have been the same or even worse today.
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