Money plays an important role in our life. Because we cannot live without money. Money is also one of the deciding factors of all. Those who have less money, then he will suffer a lot and facing a so many problems in his day to day life. Money is considered as a moral support in our life.
Before Money Demonetization
Before the demonetization of money occurs, people can run their life smoothly. The old currencies are looking good and having its own value. The money transaction becomes very high and also in a peak level. The money demand is not coming across India before demonetization. People can never waiting for the money transactions through the bank before demonetization. From the lower class people to Higher class people, they can live their life very smoothly without any problem.
After Money Demonetization
People those who are living in India can never forget the money demonetization. We don’t know this thing will happen suddenly at 8 pm. All are getting shocked while seeing that news on TV. After coming out of money demonetization, Rich get Richer and Poor get Poor. Now let us see the pros and cons of money demonetization below.
Pros of Money Demonetization
- After money demonetization happened, the black money is coming out slowly day by day.
- Most of the people welcome the money demonetization process because the people those who live across India needs India to be the greatest country while comparing it to other countries.
- Money demonetization will suffer the rich people those who are having more black money.
- The new currency notes are coming out with high features like codes.
- It is one of the major development of the government which helps to track the black money.
- If we scan the new 2000 rupees, we will see our prime minister spoke about the money demonetization.
Cons of Money Demonetisation
- Money transactions become very slow when the demonetization problem occurs.
- We have to take only 2000 rupees per day. It is also one of the biggest problem faced by our people.
- Most of the people are standing for a long time in queue at the ATM centers and get the money.
- Some people may get sick when they receive the demonetization news.
- The share market gets into down and slowly recover the share into high.
- Mostly, Low-class and Middle-class people are highly disappointed in this money demonetization.
- Government doesn’t take the necessary actions for the peoples those who are under below poverty line.
In my point of view, Money demonetization is having equal pros and cons within it. The Only sad thing is, Money transactions are stopped suddenly across India and people can face so many problems in their day to day life. In the Month of November 8, 2017, The Money demonetization news has been flashed and the people can never expect this from the government. Most of the peoples welcome this process and some peoples are highly disappointed with this demonetization process. I hope Money demonetization helps India will become a developed country.