The Central government has filed the caveat in the Supreme Court for the decision of scrapping Rs. 500 and Rs. 1000 notes from the market.
According to the reports, the Supreme Court has accepted petition challenging the center’s decision of banning the notes of Rs. 500, Rs. 1000. The apex court will hear the argument next week.
While announcing the decision PM Modi announced that the decision has been taken to curb the black money as well as corruption and to stop the fake currency inflow into the Indian market, especially done by Pakistan through ISI to fund terror activities in India. According to the reports, ISI had earned Rs. 500 crore a year through piping in fake currency into market.
However, the bold move has affected the the normal life of a common man in the country due to restriction which the people need to face. As per the directions the people have to deposit all the old Rs. 500, Rs. 1000 notes in the banks. A person can take out only Rs. 2000 from ATMs till 18th November 2016. The limit will be increased in later days.
The government has assured the people their hard-earned money will not go waste and who have proper source of their income will not have to to worry. According to many reports, people are questioning the effectiveness of the decision which is looking as temporary solution on curbing black money.
People are also challenging the decision of introducing new Rs. 2000 notes as it will increase the black money in various folds. According to reports, the Economic Secretary has also added that in few months new Rs. 1000 note with different look and color combination will also be introduced in the market.
Our Appeal
Demonetization will help the government to take out the black money from the tax evaders and will also allow them to take action against them. It should be our duty to save this country from corruption. To do this, we need to support the government over the decision and need to cooperate with the authorities. Government has given enough time to deposit or exchange the old notes and people should use this accordingly. If you have all the proper sources of your income, you will not have to worry about your money. Few difficulties will definitely lead you to more prosperous India for you and future generations.
