Why Indian Rupee Ban -Top 5 Reasons Behind That!
Here you are glad to know that Why Indian Rupee Ban or Why Rs.500 And 1000 note ban. This is not an experiment done by the Central Govt. or Modi Govt. because there are many reasons which shows that, it was compulsory and we respect and appreciate this decision of Govt.
Here we have top 5 Reasons which clear that it was beneficial for our country as well as our economy.
Reasons As Follows:
1# To Reduce The Corruption
As we all know that India has a Developing Economy and that is why corruption easily takes place here. Almost every field or level there are corruption. Now govt. can cleverly or smartly grab those people who were involved in this. Because they have to declared the source from where they got money and who found guilty this time they have to pay a huge amount of fine.
2# To Grab The Black Money Holders
As per the current report, it shows that there are 1.25 Lakh Crore black money in India. Its a very large amount and this amount also restrict our economy to grow up rapidly. Ultimately black money is one of the major problem of any nation and after this step black money holders will surely reduce.
3# All Should Pay Tax Liability
One of the another big problem for people is that they don’t want to pay their tax liability to the Govt. They escape by many ways and don’t pay their tax liability. Now if any one deposit above 2.5 Lakh in Banks he/she has to pay Tax with 200% penalty. This will surely work and it will affect those who didn’t pay their tax liability yet.
4# To Reduce Crime And Terrorism
Those people who were providing funds for the terrorists and criminal in a very large amount are unable to provide any amount of money now. The amount of money saved by them is nothing more than is just like bundles of useless papers.
5# To Wipe Out The Fake/Duplicate Currency
Everyone is very well aware about the duplicate currency or fake currency. Old note of Rs. 500 and 1000 is duplicated by the terrorist in a very large amount and they spread it very easily by various methods. So this duplication of money do not place in future it has one solution and which were issue of new currency note.
Hope so You Are More Updated after read this.
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