A recent move of Indian Government to demonetize the high-value currency of Rs. 500 and Rs. 1000 has significantly unearthed the black money. This has proved to be a revolutionary step towards curbing corruption, financing for terror and counterfeiting currency. The decision was taken as one of the biggest cleanliness drives against rubbing off the black money that has been in the system since ages. Though different experts have different views on demonetization, yet till now it has been in favor as this move is considered to be one of the critical and most impactful moves against corruption.
How does demonetization work against corruption?
· There are different sections in Indian society that are accustomed to pursuing cash transactions. This particular habit is most of the times immorally misused by few bad elements. In fact, this has led to people engaging in cash transactions even for high-value transactions. Demonetization promises to curb the excess cash flow in the society while promoting cashless and online transactions for transparent records.
· Demonetization has developed a parallel economy that will have accounted money. This will be much stronger than the regular one. This economy will help fight counterfeit currency, corruption, financing terror and black money. Elimination of these factors will lead to growth and development of the country.
· The act of demonetization will address corruption and black money and help our economy become cashless and digital.
· The unaccounted currencies will be forced to be destroyed.
Apart from the demonetization, there are few other elements which can be used for combating corruption. The common man needs to hold principles of honesty, justice, and morality. The society and its different sections need to rise and burn the menace of politics and corruption. Citizens of the nation need to be fair and honest in their dealings. One needs to take a fair stand against bribery or being manipulative.
ZiffyHomes is India’s first technology led marketplace that aims in simplifying the way people look out for renting homes. We offer a platform that provides ready to move in accommodations for longer stays. The entity supports the cause of fight against corruption. By going cashless and accepting payments online, the company is, directly and indirectly, contributing in eliminating the existence of black money which is prevalent in the society. You can come across several instances where you can find house owners demanding to get the monthly rent in form of cash. We wish to eliminate that.
If the root cause of corruption has to be eliminated then it is important to transform our mentality. Individuals need to be educated in the very start about the cons and impact of such menace. To promote a healthy economy, there must be speedy disposal of court cases, more accountability to be given to the judiciary system, free of cost legal help and protection to be offered to complainants, so that more people come forward to fight against the worms of corruption.
The central government’s decision of demonetization and support of cashless economy is one major step towards eradication of the black money and corruption from our country. Let us all join hands together for this noble cause and fight to help the nation grow and develop.