Essay No. 5

Kashmir Issue

It’s almost been 70 long years since India and Pakistan has been fighting for land which is known as ‘HEAVEN ON EARTH’ or Kashmir.

The so-called Kashmir problem came into being almost with the independence of the country. Through 50 years have passed, the problem still remain unsolved. Kashmir still remains the most important source of friction between India and Pakistan.

The STATE OF KASHMIR on October 25, 1947 existed as an independent sovereign nation. India occupied it through manipulations and intrigues involving Maharaja Patiala initially and then slowly roping in Maharaja Hari Singh of Kashmir and Sheikh Abdullah, a popular leader of Kashmir. Both were hoodwinked with false promises and dream of secular India that proved to be a mirage. Hari Singh wanted Kashmir to remain independent. The growing Indian clandestine political activity sent alarm bells to the newly created independent nation of Pakistan. Very little could be done by Pakistan´s shocked Governor-General M A Jinnah whose army Chief General Douglas Gracy preferred to act on the orders received from Governor General of India Lord Mountbatten. An act in desperation by a Kashmiri Major Khurshid Anwar and Major Akbar under pseudonym General Tariq to stop India´s occupation plan lacked initial support from Pakistan army which if provided, would have put Kashmir in Pakistan´s lap lock, stock and barrel. Later Pakistan having no option had to intervene and Pakistan army stopped Indian army´s military advance any further at URI that came to be known as CEASEFIRE LINE

The British withdrew from India on 15^th august, 1947. The princely Indian states were given the option either to (a) accede to India; (b) accede to Pakistan (c) become independent. No serious difficulties arose in the case of the other states. But the position of the Kashmir is unique. It is contiguous both with India and Pakistan, so it could accede to either of them. Both desired it, for the state is not only a ‘heaven upon earth’, it is so far reaching significance from the military point of view. While it was ruled by a Hindu Maharaja, its population was predominantly Muslim. In this fact, lay the real problem, Pakistan claimed it as its own, for it has a predominantly Muslim population.

The Hindu Maharaja was still hesitating whether to join India or Pakistan, when Pakistan encouraged her-war like tribes to enter the state. They were supported by regular Pakistan army. Having no other option left to him, the Maharaja acceded to India and urgently requested for help. The accession was endorsed by the popularly elected constituent Assembly of Kashmir. Indian armies were flown over to Srinagar immediately, and the invaders were pushed out of the Kashmir valley. They could not be thrown out of the rest of the state territory, for to do so would have meant bombing of military bases in Pakistan. As India wanted to avoid an all out war, it complained to the Security Council against Pakistan. A cease-fire was declared immediately, as a result of which Pakistan remained and still remains, in illegal possession of a part of the state which is called “Azad Kashmir” by Pakistan.

The British withdrew from India on 15^th august, 1947. The princely Indian states were given the option either to (a) accede to India; (b) accede to Pakistan (c) become independent. No serious difficulties arose in the case of the other states. But the position of the Kashmir is unique. It is contiguous both with India and Pakistan, so it could accede to either of them. Both desired it, for the state is not only a ‘heaven upon earth’, it is so far reaching significance from the military point of view. While it was ruled by a Hindu Maharaja, its population was predominantly Muslim. In this fact, lay the real problem, Pakistan claimed it as its own, for it has a predominantly Muslim population.

The Hindu Maharaja was still hesitating whether to join India or Pakistan, when Pakistan encouraged her-war like tribes to enter the state. They were supported by regular Pakistan army. Having no other option left to him, the Maharaja acceded to India and urgently requested for help. The accession was endorsed by the popularly elected constituent Assembly of Kashmir. Indian armies were flown over to Srinagar immediately, and the invaders were pushed out of the Kashmir valley. They could not be thrown out of the rest of the state territory, for to do so would have meant bombing of military bases in Pakistan. As India wanted to avoid an all out war, it complained to the Security Council against Pakistan. A cease-fire was declared immediately, as a result of which Pakistan remained and still remains, in illegal possession of a part of the state which is called “Azad Kashmir” by Pakistan.

After having dealt with the problem for fifty years, it is felt that, even to-day, the problem defies any solution, at least in the near future. The situation is in reality absolutely inflammable as, Pakistan continues to send Jihadist/terrorists to wreak destruction in the State.

The plea taken by the Jehadis is that, they are fighting for their right of freedom. India has all through these years sought to find a solution to the problem, which is amicable and mutually acceptable to all the parties involved. The latest attempt to find peace with Pakistan is the declaration of a unilateral ceasefire by India.

Even to this step taken by India the Pakistani reply is not a follow up of a ceasefire by them but with guns and shells.

To this sort of a situation where both parties to the struggle have their own styles of functioning, all solutions seem to obstruct any results.

The policy of 'wait and watch' can only be the keyword to the Indian policy on Kashmir, let us see when Pakistan realizes the futility of a cold attitude towards its neighbor and its cold blooded revolt against India in the process of which, only innocent people are jailed, kidnapped and hacked to death.

The net result of all this being a big zero - we remain as is where is even after fifty years of attempting for a solution.

With this situation remaining for so long a period, it does not appeal to any reason that, relations of the two neighbors will ever improve. The relations are keeping on moving down the ladder of discontent and suspicion of each other, and there is nothing - just nothing achieved.

Essay No. 4

Impact of GST

A just and viable tax regime is vital for the sustainable economic growth and fiscal consolidation of any economy in the world.

This assumes a greater importance in a developing economy like India where although we have a high demographic dividend, we are yet to convert it to the proportionate human capital, which will in turn benefit the social and economic growth of the country.

Goods and Services Tax (GST) is a reformatory legislation which is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage. The final consume will thus bear only the GST charged by the last dealer in the supply chain with set-off benefits at all the previous stages.

The tax-GDP ratio of a country is an important indicator that helps understand how much tax revenue is being collected by the government as compared to the overall size of the economy and unfortunately, this ratio is a dismal low for India despite having years of high growth, the lowest in BRICS countries.

From 2001 to 2015 the Indirect Tax-GDP ratio has increased from 10.28-11.6 only and therefore there is an urgent need to raise this ratio.

The burden of regressive taxes is another issue that the GST aims to redress. Direct taxes are progressive taxes as they are contingent on the ability of the taxpayer to pay.

In India, more than 60% of the total tax collected is accounted for indirect taxes, implying that the tax structure is extremely regressive and since the rich and poor are subject to the same tax rate which is unfair and therefore the indirect taxes need to be hauled.

Furthermore, the sharing of financial resources and revenue from the tax system between the Centre and the State is made simpler by the GST tax reform.

Furthermore the cascading of taxes with both the Centre and State levying taxes as the taxes levied by the State Government are not available to set off against the taxes being levied by the State Governments.

At the central level GST will subsume Central Excise Duty, Additional Excise Duty, Service Tax, Additional Customs Duty (Countervailing Duty), and Special Additional, Duty of Customs. At the State level, Subsuming of State Value Added Tax/ Sales Tax, Entertainment Tax, Central Sales of Tax, Octroi and Entry Tax, Purchase Tax, Luxury tax, Taxes on lottery, betting and gambling.

Also, the variety of VAT tax laws in the country with disparate tax rates and dissimilar tax practices divides the country into separate economic spheres thereby creating tariff and non tariff barriers thereby hindering the free flow of trade in the country.

This in turn also constitutes high compliance cost for the taxpayers disadvantageous to economic growth of a country.

Along with GST, there are a number of reforms that the Government is bringing in to strengthen the manufacturing bone of India.

GSTN, the Goods and Services Tax Network is being setup with the objective to provide the requisite IT infrastructure and services for the proper roll-out and implementation of GST.

It is a company under Section 25 which implies that its is a non government, private limited company which will not work for profit.

The division of powers is such that the Central Government holds 24.5% equity in GSTN while the states inclusive of NCT of Delhi and the union territory of Pondicherry and the Empowered Committee of the State Finance Ministers collectively hold another 24.5%, the remaining 51% vests with other Government financial institutions.

This company will work towards providing a proficient GST Eco-System. It will encourage and collaborate with GST Suvidha Providers to roll out GST applications for providing simplified services to the stakeholders.

It is also entrusted to carry out research in order to conclude better and best practices and to indulge in staff training and also consultancy to the Tax Authorities and other stakeholders.

Another very important feature of the GSTN is to develop Tax Payer Profiling Utility which is a very important aspect in ensuring efficient administration and achieve the GST goals.

This is the most important aspect of the Goods and Services Tax, in ways bigger than the GST bill too, as the entire structure of GST is contingent on this foundation.

It is an apex body headed by the Union Finance Minister Mr. Arun Jaitley with the State-nominated ministers and the Union Minister of State for Finance (In charge of Revenue) as members.

It is imperative to note that the decisions of the GST Council will shape whether this ambitious tax reform will achieve its due desired effect or not.

 The present scenario of differing tax rates in different states obstructs cooperative federalism.

GST will bring uniformity and also deplete the cascading consequence of these taxes by giving input tax credit, having a comprehensive tax inclusion with minimum exceptions which will in turn help the Industry to benefit from the proposed common procedures and claim credit for the tax paid.

This will take place in two ways: (a) directly the resources available to the poorer states will increase substantially; (b) indirectly as the tax base becomes more buoyant.The common base and common rates across goods and services and very similar rates across Centre and States will result in effective administration and increase compliance while also ensuring the better management of taxes collected in the State.

Also, there is a provision to maintain the requisite fiscal autonomy to the States with the power to levy additional excise taxes on certain “sin” goods like, tobacco, alcohol, etc.

The complicated tax-levy system categorized by distortions between States and Center which divides the country into separate economic zones with the help of GST will become one common national market.

This impedes the Make in India process which will get a boost through GST as it is making tax compliance easier and removing ambiguity and at the same time as GST will be applied on imports, domestic manufacturing would be encouraged.

Tax Governance will get a positive boost through this regime, mainly, through the feature of input tax credit.

To claim input tax credit, each dealer has an incentive to request documentation from the dealer behind him in the tax chain which will ensure tax compliance. Also this would further require producers to buy materials from registered dealers and therefore will bring in more and more vendors in the taxation net.

There will be reduction in prices of goods as taxes would now be exempted from the production cost and at the same time it will put better goods and services within the reach of a larger number of the populace and as such increase the living standards of the country.

The successful implementation of GST would give a strong signal to the foreign investors about India’s increased creditworthiness, lesser compliance and procedural costs in the taxation sphere and remove the complexities faced by the foreign investors who were reluctant to invest in consonance with the existence of virtual economic zones throughout the country.

Essay No: 2

                                                        

                               India’s Changing Foreign Policy after 2014

The likely defeat of the Congress Party in India’s 16^th general election has prompted considerable debate about the impact a change of guard in Delhi will have on foreign policy. What would India’s foreign policy look like in the event of the Hindu nationalist Bharatiya Janta Party (BJP) government coming to power in 2014, either on its own or with the support of allies?

Many in India and abroad believe that India’s foreign policy is poised for a “sea change” under a BJP government after 2014, especially one headed by the strident Narendra Modi.

According to Sreeram Chaulia , professor and dean at the Jindal school of International Affaire in Sonipat , India, foreign policy under modi-led government will see greater emphasis on commercial diplomacy, “more assertive action in response to [Pakistan backed] cross-border terrorism, ”greater attention to long-term policy planning with a view to formulating grand strategy for scenarios in 2020 and beyond, “a bigger role for the military in shaping India’s national security and formulating doctrines,” and a GREATER say for the states in the government’s formulation and execution of foreign policy.

Not much is known of Modi’s foreign policy thinking. Even the BJP’s election manifesto, which is said to carry his “definite imprint,” sheds little light; just a over a page documents is devoted to foreign policy.

A controversial and polarizing figure, Modi has often poured scorn on the Congress-led United Progressive Alliance (UPA) government’s “soft” response to terrorist attacks emanating from Pakistan and Chinese incursions into Indian Territory.  This has contributed to a widely held perception that he will be tough in his response to Pakistan-backed terrorism and would not baulk at the use of force. Modi is also expected to take a tougher stand in dealing with India’s territorial disputes with Pakistan and Chine.

What “though” might mean in practice is unclear at this point, and how far Modi will go is hotly debated.

  Some have even argued that he may reserve the right to use tactical nuclear weapons against Pakistan in response to a major terrorist attack. Most, of course, don’t go that far.

 According to Chaulia, in dealing with terrorism emanating from Pakistan, modi could go for “clinical counter-strikes” and covert operations, including targeted assassinations of key figures in the Pakistan-based, anti-India terrorist network. But he “will try to avoid war with Pakistan at all costs because of the obvious danger of nuclear exchange, “he says.

While agreeing that Modi will appear tough with Pakistan, T P Sreenivasan, a former diplomat who spent 37 years with the Indian Foreign Service, argues that  “this toughness will not go beyond a point” as he will realize soon that with “war not an option anymore, a tough approach will go only so far.”

In fact, foreign policy under Modi, Sreenivasan policy under Modi, Sreenivasan says, “will not change in any significant way.” It would be “continuity rather than change, because former diplomats would be advising Modi, foreign policy not being his forte.” Changes if any will be in nuance and not fundamental in nature.

Indeed, a striking feature of India’s foreign policy is its continuity. Certainly there have been shifts, but as Manjari Chatterjee Miller points out in a recent article in Foreign Affairs, “the broad shape of Indian foreign policy has remained the same for nearly five decades.” Even when shifts do occur, they are not “sudden,” “have had little to do with the prime minister’s political ideology.

It is in emphasis and style rather than substance that the Modi government’s foreign policy will differ from that of the UPA. Modi will be less patient with Pakistan and can be expected to base his relations with all of India’s neighbours (and not just Pakistan and China) on reciprocity.

But like another BJP prime minister, Atal Bihari Vajpayee (1998-2004), Modi    would try to reach a final settlement with Pakistan on Kashmir, Chaulia says.

In fact, Modi is reported to have already reached out to Pakistan by sending his emissaries to confer with its leadership.

Vajpayee was assertive in his conduct of foreign policy. Within three months of coming to power, his government conducted a string of nuclear tests, declared Indian to be a nuclear ambiguity. His government conducted a string of nuclear tests, declared Indian to be a nuclear weapon n state, and abandoned the decades –old policy of nuclear ambiguity. His government’s relations with Pakistan were often tense; the two countries fought a near-war at Kargil in 1999 and tensions sorted repeatedly over major terrorist attacks in India. Following a terrorist attack on India’s parliament in 2001, the Vajpayee government ordered a massive, year-long mobilization of the security forces along the India-Pakistan border to push Pakistan to dismantle the anti-India terrorist network on its soil.

This toughness notwithstanding, Vajpayee also set in motion a peace process with Pakistan, engage in dialogue with it at the highest level, reach a ceasefire agreement that reminds the force and initiated a direct bus service between the two countries.

Modi’s critics point out that unlike Vajpayee he is not liberal in his outlook as has not demonstrated the vision that would be required to pursue a lasting peace.

Modi is expected to allow state governments a greater say in the formulation and execution in foreign policy. He has said the states that have special links with other countries whether due to shared borders, historical links, or cultural communalities should be consulted in framing policies and crafting strategies with that country. He has spoken of India’s 30 states as partners in his governments’ execution of foreign policy and of wanting to entrust them with “The task of foreign beneficial foreign relations with at least 30 corresponding partner countries.”

Overall, Modi is likely to be comfortable with federalizing foreign policy only with regard to this state courting foreign investment. On other matters it will be his government that calls the shots.

Of course, all this assumes that Modi will be able to form a government, on its own or with allies. Should the assumption prove false, then India may wall end up with a coalition of regional and national parties.

Such a coalition is very likely to be unstable, with little in common among it’s constituents. Pre-occupied with survival and pulling in different directions, expect Indian foreign policy to be somewhat chaotic, lacking the robustness or purpose that could be expected of a strong BJP government.  

Essay No: 1

                                                                             

                                                               FREEDOM OF INDIA

Despite generally being neglected and discarded in the historiography of India’s glorious freedom movement, it has to be accepted that the Communists played a crucial role in the country’s freedom struggle, As the country commemorates its 70^th year of Independence Day, honouring thousand of stalwarts and freedom fighters who laid down lives for the vision of Independent India, only a few would acknowledge the contribution of communists in the freedom movement up to 1947.Despite generally being neglected and discarded in the historiography of India’s glorious freedom movement, it has to be accepted that the communists played a crucial role in the country’s freedom struggle.

 While the communists were ideologically at loggerheads with the India National Congress (INC), even Viceroy Lord Irwin, in his 1929 speech to the Legislative Assembly, stated that “the disquieting spread of Communist doctrines has been causing anxiety” and declared that the government would take strict measures. But the Communists believed India’s freedom could neither be achieved through British government’s reforms nor by Congress’ idea of peaceful means. For them, socialism was the only way to emancipate the masses from poverty and destitution, ones the country is freed from the imperialist rule.

During the period of 1920-29, a series of conspiracy cases had been levelled against the Communists, including the Meerut Conspiracy case (1929) which resulted in harsh prison sentences. In fact, the Communist Party of India (CPI) was an illegal party for most of the time under the British rule. It was only in 1937 when the Congress ministries came to power in several states that the ban was lifted. But it had to go underground again in 1940, and could only start functioning openly after it supported the anti-fascist allies in the World War II.

Apart from being the first to endorse socialism, the Communities were also the first to advocate complete independence and raise it before the National Congress. At the 1921 session of the INC, Maulana Hazrat Mohani and Swami Kumaranand moved the reasolution for complete independence for the first time. Signed by M N Roy and Abani Mukherjee, the manifesto called upon the Congress to adopt complete independence as its mission and render full support to the struggles of the working class and peasantry.

The year 1928 also saw the Communists succeed in forming big unions, leading plenty of strike-struggles of the working class while advocating complete independence of the country. Workers strike in Bombay, in which railway, textile and municipal workers participated when the Simon Commission reached the port of Bombay, became a part of the national movement for boycotting the Commission.

Although the Mahatma Gandhi-led Congress initially opposed the resolution and sought Dominion status till 1929, the party eventually adopted Purna Swarajya as its own Platform of Action in 1930, listing out a complete programme for achieving independence. Determined to oust the colonisers, the platform emphasised a radical change while calling for confiscation and nationalisation of all 13 British factories, banks, railways, sea and river transport and plantation. Among other outstanding demands included an eight-hour working day and improvement in conditions of labour.

Before the launch of the platform, the Communists had gradually started striking a chord among the workers, the peasants and youth. Sensing their rising power, the British government countered with a spree of case against Communists in Peshawar and Cawnpore in which stalwarts like Muzaffar Ahmed, Shaukat Usmani, S A Dange and Das Gupta were sent to prison.

Meanwhile, revolutionary Mastarda Surya Sen’s daring Chittagaon Armoury raid in 1930 saw the participation of Communist leaders, though the movement was eventually suppressed. However, it managed to send the alarm bell ringing for the Britishers.

In 1934, the Communists succeeded in organising an all-India textile strike with the help of other trade unions as the working class wave continued to surge a year before. The release of political prisoners-mostly jailed in the Andaman and elsewhere-was one of the major demands of the strike.

Later, the communists joined forces with Congress but refrained from surrendering their class outlook and there approach to the national liberation struggle. Many left leaning political activities the newly-formed congress Socialist party under the leadership of jayprakash narayan. The alliance resulted in rapid growth of the communist influence and of the communist party, which made great strides in Bengal, Andhra, Madras, the states of states of Travancore and Cochin.

The communist along with congress socialists deftly utilised the period of congress ministers to mobilise the peasants with an aim to raise anti-imperialist consciousness among them to face the impending battle imperialism. The peasant movement received a shot in the arm following the victory of the congress following the victory of provincial polls in 1937. Formed in 1936, the Kisan Sabha’s membership witnessed a jump of half a million by the time it met its second session at commmila.

When war started in 1939, the communists were the first to launch an anti-war protest strike, which witnessed the participation of then 90.000 workers in Bombay in 1940. They believed that people across the world had been dragged into a destructive war by the imperialist powers. However, following Hitler’s attack on the USSR, the communists underwent a change in their narrative and realist that the victory of anti-fascist combination headed by the USSR was in the interest of the people of the people of the world as well as of the national freedom struggle of India.

Between 1945 and 1946, the British government received a sample of the Indian mind when they put on trail of the officers (Shah Nawaz Khan, Prem Sahgal and Gurubaksh Singh Dhillon) of the Indian Nationality Army. The Hindu and Muslim masses came out together despite difference and put up formidable demonstrations because of which arrested officers had to be released. In February 1946, Indian sailors of the Royal Indian Army in Bombay, Karachi and Madars launched a rebellion against Britishers with navel ratings carrying the Communist Party flag and raising slogans of the Jai Hind, Inquilab Zindabad, Hindus and Muslims Unite, and Down with British Imperialism in Bombay. While the naval rebellion was condemned by Sardar Patel, the Communist Party backed the strikers. 

Essay No. 3

Demonetization

    Demonetization of currency means discontinuity of the particular currency from circulation and replacing it with a new currency. In the current context it is the banning of the 500 and 1000 denomination currency notes as a legal tender.

The government’s stated objective behind the demonetization policy are as follows; first, it is an attempt to make India corruption free. Second it is done to curb black money, third to control escalating price rise, fourth to stop funds flow to illegal activity, fifth to make people accountable for every rupee they possess and pay income tax return. Finally, it is an attempt to make a cashless society and create a Digital India.

There is a background to the current decision of demonetization of 500 and 1000 rupee notes. The government has taken few steps in this direction much before its November 8, 2016 announcement.

As a first step the government had urged people to create bank accounts under Jan Dhan Yojana. They were asked to deposit all the money in their Jan Dhan accounts and do their future transaction through banking methods only.

The second step that the government initiated was a tax declaration of the income and had given October 30, 2016 deadline for this purpose. Through this method, the government was able to mop up a huge amount of undeclared income.

However, there were many who still hoarded the black money, and in order to tackle them; the government announced the demonetization of 500 and 1000 currency notes.

The demonetization policy is being seen as a financial reform in the country but this decision is fraught with its own merits and demerits.

The demonetization policy will help India to become corruption-free. Those indulging in taking bribe will refrain from corrupt practices as it will be hard for them to keep their unaccounted cash.

This move will help the government to track the black money. Those individuals who have unaccounted cash are now required to show income and submit PAN for any valid financial transactions. The government can get income tax return for the income on which tax has not been paid.

The move will stop funding to the unlawful activities that are thriving due to unaccounted cash flow. Banning high-value currency will rein in criminal activities like terrorism etc.

The ban on high value currency will also curb the menace of money laundering. Now such activity can easily be tracked and income tax department can catch such people who are in the business of money laundering.

This move will stop the circulation of fake currency. Most of the fake currency put in circulation is of the high value notes and the banning of 500 and 1000 notes will eliminate the circulation of fake currency.

This move has generated interest among those people who had opened Jan Dhan accounts under the Prime Minister’s Jan Dhan Yojana. They can now deposit their cash under this scheme and this money can be used for the developmental activity of the country.

The demonetization policy will force people to pay income tax returns. Most of the people who have been hiding their income are now forced to come forward to declare their income and pay tax on the same.

Even though deposits up to Rs 2.5 lakh will not come under Income tax scrutiny, individuals are required to submit PAN for any deposit of above Rs 50,000 in cash. This will help the income tax department to track individuals with high denominations currency.

The ultimate objective is to make India a cashless society. All the monetary transaction has to be through the banking methods and individuals have to be accountable for each penny they possess. It is a giant step towards the dream of making a digital India. If these are the merits, there are demerits of this policy as well.

The announcement of the demonization of the currency has caused huge inconvenience to the people. They are running to the banks to exchange, deposit or withdraw notes. The sudden announcement has made the situation become chaotic. Tempers are running high among the masses as there is a delay in the circulation of new currency.

It has deeply affected business. Due to the cash crunch, the entire economy has been made to come to a standstill.

Many poor daily wage workers are left with no jobs and their daily income has stopped because employers are unable to pay their daily wage.

The government is finding it hard to implement this policy. It has to bear the cost of printing of the new currency notes. It is also finding it difficult to put new currency into circulation. The 2000 rupees note is a burden on the people as no one likes to do transaction with such high value currency. Some critics think it will only help people to use black money more easily in future.

Further, many people have clandestinely discarded the demonetized currency notes and this is a loss to the country’s economy.

Economists are busy in listing out many more merits and demerit of this policy. The government is saying that there are only advantages of demonetization policy and this will be seen in the long term. Former Prime Minister Manmohan Singh who is a noted economist, former RBI governor and former Finance Minister of the country, dubs the demonetization move as an 'organized loot and legalized plunder'.

However, if we compare the merits verses demerits, it will be safe to conclude that the former outweighs the latter.

Even though there is suffering and agony among the masses right at the moment but the forecast is that its benefits will be seen in the long run.

The government is taking all the necessary steps and actions to meet the currency demand and soon the trial and tribulations of the people will be over with the smooth flow of the new currency.

This is not everything about demonetization. In this “demonetization essay” or article on demonetization, we have only tried to give you an idea on demonetization. If you have any more queries please drop a comment for us. We will discuss your points in our next “demonetization essay” or article on demonetization.