There is news channels covering all news about demonetize and it’s effects. Some people say it is very good move and it will have long term gains.while some people like Arvind Kejriwal ,Rahul Gandhi, Mamta Banerjee are opposing it since they have lost their black money which they cannot declare. And there are few people supporting it which includes Bihar CM Nitish Kumar.
Before you form your opinion I want to highlight few things related to demonetization which you need to know.
- Demonetization was last done in India in 1978 .
- Currently the costing of whole process amounts to ₹ 2 billion crores and counting.
- More than ₹480 crores of black money have been seized which includes more than ₹80 crores in new currency.
- Raids are wide spread throughout the nation and strict actions have been taken against those involved in this racket which includes some bank management officials also.
- Black money accounted 20% of our G.D.P and out of which more than 90% was fake and was produced widely in Pakistan.
- Recently one Pakistani who was solely responsible to print Indian notes and supply it to India hanged himself and committed suicide.
- Another good news is prostitution business which flurred on black money has come to halt.