Below we have provided Demonetisation Essay in English, written in easy and simple words for class 5, 6, 7, 8, 9 and 10 school students. Demonetisation Essay: Demonetisation is one of the most talked topics of the past few years. The meaning of demonetisation is to replace the existing currency with a new one and to ban the older currency in any type of financial circulation. This is what the Indian government did on November 8, , when demonetisation of the currency of and was announced. This order of government had affected all Indian citizen more or less. The opening of zero balance bank accounts under Jan Dhan Scheme and tax declaration of the income till 30th October were among the precautionary step that the government has taken before the announcement of demonetisation.
Demonetisation Essay in Easy Words - Summary & Explanation (6 points)
Demonetisation is going to be a landmark in the history of the Indian e conomy. It was an experience which might create fear in the minds of the people who indulge in illegal activities like tax evasion or money laundering of any kind. On November 8, , the Indian government declared that the and rupee notes will be stripped of their status as legal tender effective from midnight. Citizens were given time till December 31, to deposit their old currency notes and exchange them for the new currency notes of rupee and
Essay on demonetisation for brief essay on mahatma gandhi in hindi
Demonetization is the process of withdrawing the legal status of a currency unit in a country thereby rendering it null and void as legal tender. Demonetization leads to a change of national currency: The accepted unit of legal tender is withdrawn from financial circulation and usually replaced with new notes or coins. Sometimes, a country completely replaces the old currency with new currency. This is called Demonetization.
The demonetisation was right step, but it would be effective only if it is followed with measures leading to cashless economy. Demonetisation has been the biggest economic measure that India has seen post-Independence. It has caused and will result in many social, political and economic effects. Some people criticised the move in the beginning and even tried to incite people to oppose the move and demanded immediate rollback and now those same set of people are talking about how cashless economy is not possible and is bad.