A Short Essay, Article on Demonetization and its Impact

An Essay/ Article on Demonetisation ( नोट बंदी) in India with its social and economic impact – भारत में नोटबंदी पर निबंध / लेख Article on Demonetization in India and its Impact When PM Modi announced that Rs with the denomination of 500/- and 1000/- would cease to be the legal tender from 9th of Nov, the whole country was stunned. This decision caused sensation in the whole country. Social Media was flooded with messages and information. People started counting the trash they had accumulated for years legally or illegally.

हिंदी में नोटबंदी पर लेख / निबंध यहाँ से पढ़ें

Rumours became rife. Some tried to invest their dying currency in gold. Some contacted their near and dear ones in this miserable hour. People could get only Rs 4000/ of old denomination exchanged with the new one. Big queues before the banks and ATMs became the order of the day.

Instead of getting shorter, these queues were getting longer with every passing day. The last date for the whole process was 30th of December. The persons could deposit the old cash worth Rs 2.5 lac till the said date.

The main objective of this move was to curb the black money, corruption and fake money menace. All the people but those who were indulged in malpractices welcomed the move. The whole opposition shook hand against this move under one pretence or the other. They called this decision a draconian law and wanted the govt to roll back it. Tirades were made to target the decision. Govt also carried out counter attacks.

The new currency which replaced the old one is of denomination of 500/- and 2000/-. Though the people faced a lot of inconvenience owing to shortage of funds, they did not criticize the govt for the move. Even they lauded the Modi govt for this big move. Prime Minister also addressed the people many times telling the people that it was a mahayajna (महायज्ञ  ) and they must offer their own ahuti ( आहुति )  in it.

He further said he was aware the hardships they were suffering from but he sought only 50 days for setting the things right. He jibed at the chief political leaders who have stashed big amount of money and therefore joined hands to force govt to rollback its decision.

The most interesting thing regarding the demonetisation was that people had devised various unique methods for transforming their black money in to white one. Some of these methods were as follows –

  • Depositing money in the accounts of their poor relatives and friends.
  • Enticing the people with some percentage of money for exchange.
  • Asking their employees to stand in the long queues in front of Banks and ATMs for getting money exchanged.
  • Hiring labors for some Rupees ranging from  Rs 500/- to 700/- for becoming the part of long queues in front of banks/ ATMs.
  • Converting black money in to gold.
  • Paying a few months salaries in advance.
  • Paying back loans forcibly.
  • Using their influence / links with bank employees and so on.

Impact of Demonetization on Indian Society/ Economy –

We shall see a great impact of this move of the Central Govt on Indian Society and Economy. The first impact shall be that people will have lower expenditure power. With that they will not be able to purchase luxurious things.

There shall be no ostentatious expenditures on marriages and other ceremonies. So the society will grow lesser materialistic and people more prudent. With the fake money destroyed, Indian economy will see a big boom and the so-far-booming-real-estate-sector shall fall on the ground.

The things may be cheaper. Indian Currency may get respect at the international market. There may be a great check on the terror-related funding and therefore on terrorist activities. Corruption shall be down to a great extent as people will stop the tendency of accumulating money using wrong means.

This big move will certainly abridge the gap between the haves and the have-nots. However, there may be some difficulties for a couple of months. But this inconvenience shall be temporary and for short-term.

Read Important Facts/ Questions on Demonetisation in India

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273 Comments

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  1. “The new currency which replaced the old one is of denomination of 500/- and 2000/-. Though the people faced a lot of money because of shortage of funds, they did criticize the govt for the move. Even they lauded the Modi govt for this big move. Prime Minister also addressed the people many times telling the people that it was a mahayajna (महायज्ञ ) and they must offer their own ahuti ( आहुति ) in it”

    This is what u have written but how could face lot of money

    1. sir can we take a demonetization …as a research topic
      it have any importance role in the future

      1. sir suggest me a toppic on the cooperative banks

        1. Yes you can take mam

  2. I mean how could someone face lot of money
    It should be problems

  3. Yep it would be problem fr few months. Bt with a great impact positively

  4. How cum black money is being found only with normal people businessmen etc and not politicians cz da entire world know they r da one to have huge amount of black money?????……..?????!!!!

  5. A good article

  6. Really helpful

  7. its for all .i like it

  8. It is very helpful to all.thanks for giving good information

    1. Thanks for visiting us.

  9. Its marballous I loved it

    1. Thanks Ujjwal.

  10. I liked your article too much

    1. Thanks Asish.

  11. thanks for the info .But till today i could not come to know that how black money is going to be eradicted

  12. Excellent essay or article whatever we say…I think Modi sir has done the correct and the right thing…

  13. Nice essay i love the way u expressed the goods and bad related to it still if the law would have been known to all at the same time then probably a large amount of black money would have been found.india mainly functions with the small scale industries and this decision lead to a huge problem for them as well as the poor.the rich tried to harm them a lot. I wish corruption may reduce atleast for atleast some time and ur ideas as well as points were also good

  14. Nice!!!!

  15. How we sure dat there will be no black money after demonetization.? Aftr demonetization there r many cases come through media. The political parties r doing this even some branches of banks r doing black money to white.

    1. May be, this demonetization is one the filters. If some dirt is still left after the first filter, there will certainly be some more filters. The important thing is that somebody is doing it with good intention.

  16. I lyk it vry much..:)

  17. Very good decision

  18. Excellent article I like it very much wonderful. Superb and awesome modi sir is a very intelligent person he had done a very good job

    December 19,2016 at 9 o’ clock

  19. Informative one..keep publishing…

  20. Nice I like it

  21. we have to wait for good times . this is the time of sir MODHI’

  22. nice article,as very informative,i like it

  23. This result will soon turn positive

  24. Excellent and thanks but there r such corrupt people who r trying to change their black money into white

  25. Its probably a gud decision..cuz,it might b a problem fr nw BT surely it iz a gud decision nd thr also wuld b a gud result ….pepl may wantdly tell DAT dhe decision tken by p.m (N M) iz wrng as cuz they waiting fr longer hours in d quaque …..fr dem i can gve one suggestion dho im nt against at peple but d thng iz while prchsng a movie ticket stndng in quaque doesn’t feel thm its wrong…BT cmez to #@tm it feelz #so let us not do diz nd supprt it

  26. best step to end black money

  27. Informative…

  28. This was a nice decision by our honorable pm midi

    1. i don`t think so !!!!!!!!!!!!!!!!!

  29. The step taken by Mr. Narendra modi is the biggest step for Indian financial power..

    People are getting problem to widow their money i accept this.. But think how much prime minister would be facing problem to change the country..

    Pls be supporter of P M.

    Thanks..

  30. Very nice and informative

  31. yess ..thia is gud way to ..end corruption but ..corupted person also caught with new currency

  32. Really helpful and now this yr 100℅ chances to come in upcoming cbse board 12 examination.
    Thanks for providing me such a good information about Demonetization.
    Plz sir provide me a good article on surgical strike.
    If possible then sent me on :
    amnkmr12345@gmail.com

  33. It’s really good .

  34. Nice essay…! But demonitaization has side effect also in the booming economy it has created some where unemployment also and else it has many disappointment for the middle class people mainly they are affect by this….

  35. thanks for help

  36. Thanks for providing the article.Nice Article…!

  37. It was a good decision towards corruption and black money.

  38. Thnkas to lot

  39. wy dont to care any problem

  40. What a amazing site! How amazingly someone has collected information of both the faces of demonetization of currency.
    I am just Flabbergasted!!!!!!

  41. thanxx. it helped me a lot…

  42. thank you it was a good aticle

  43. Its great step for the country.To develop our country it is necessary and helpful to stop corruption…………
    i like that idea and hope you also like it ………….
    be INDIAN
    because every corrrupt person is CHAMPION………………..

  44. Its an amazing essay. I totally agree with this. I m with the decision of p.m. modi of demonetization.

  45. Which country have first experienced demonetization

    1. May be it is Ghana that had tried demonetization in 1982.

  46. Superb I really like it

  47. The is isa very ryt step towards the economic development of India and I support it.

  48. PM modi sir,you have done a great job, I am very proud to say that I am living under the PM modi sir control and I would like to congratulate that you have taken a very good decision. It can change our India as better India.I hail from farmers family. There are 10 members in my family out of whom only I am educated. Please consider more and more on development of agricultural sector. My address is V.veluchamy, 4/447, thriveni nager, Nagamalai,madurai-625019, Tamilnadu-India
    Thank You sir

  49. nice article,i like it,it is very helpful.

  50. Very nice article this article became very helpful to me . Thanks for sharing it with us

    1. Thanks for reading it.

  51. Yes it would be right and have a great impact on country as the while economy could be changed through demonetisation.we should move forward for cashless economy.
    As it is simpler easier way to reduce corruption and make the transiction easier and comfortable for the mankind.
    I don’t understand ‘why some peoples are’nt supporting this? Don’t hou think they are supporting corruption.yes,the reason is self greed
    if we want to see the India get forwarded and raising up like other countries then we should support the system. pay the tax regularly and make the India a corruption free india.

  52. Can’t help but notice that you definitely are a Modi Bhakt. Could you please explain how exactly are the recovered black money help India’s image on the international face.. how is the question..Also pls explain how did Reddy manage to conduct his daughter’s wedding days after , demonetisation was announced.

  53. A good article

    This gives a lot of information to me and it help me te increase my gk

    Thanx to whom he/she wrote this article

  54. Excellent Article It is helpful for me to do work of school
    v.good and best article thank you

  55. very nice and good decision for every honest citizen of india ..i love PM modi decision …mera bhart mahan .

  56. Gud but u should give more details

  57. Nice and helpful

  58. Good move of central government. .go ahead we r with u…jai hind jai bharat..!!

  59. Please also rite it in hindi

  60. Thanks for help

    It was good to a lot of black money.
    And thanks for pm . Because by this decision India were developed

  61. Yet it be the problem for few months but its a very positive impact on this country. kuchh pane ke liye kuchh khona padata hai.

  62. yes its a big problem for poor people but its a positive effort

  63. thanks for giving such a good info.

  64. Thanks for giving such a good information

  65. Thanks for helping in my school project it was really helpful for me

  66. nice article

  67. Superb! What a nice article.
    You should publish more about this topic. It would be interesting.

  68. Yes it very good essay.

  69. Very nice article sir. Very helpful to me & all. Thank you.

  70. very nice thanks it is very useful

  71. Good better best !!!!

  72. Thank you so much! :) :):):):)))))

  73. its really very helpful

  74. Really good one….
    Very much helpful…..
    Almost included all the important information……..

  75. this is totally amazing. please tell what this line means” Big lines became the order of the day.”

    1. It means big queues before the banks and ATMs became very common.

  76. It was a right move but at a wrong time……

  77. this is a wonderfull site and these information is more helpfull for my study.thanks for all of those give me this type of information

  78. Its an good idea .and I likes it to much….

  79. Good essay……I liked it………and it really helped me……THANX……

  80. its really nice article

  81. Your article is osm i like it

  82. It was useful, thanks!!!

  83. It is very helpful

  84. A very interesting essay on demonetzition ….

  85. Super , article thanks to whom who written this article

  86. Dude demonetisation spelling is wrong yar

    1. Dude both spellings are correct. One is American and other is British.

  87. Thanks it was really helpful thank you very much

  88. Superb article We are with you

  89. I like this article very much

  90. I m very helped by this article
    Thanks for putting it on internet

  91. It’s good movement of government

  92. It’s so bad for illegal persons who earned or took black money .
    From A.M.

  93. It was really helpful…thnkx

  94. more useful if it is to long

  95. it is not good for poor family.

  96. It’s really nice article

  97. I like the idea of demonetization and i am also in the favour of demonetization

  98. It is an excellent idea but the execution is really slow.

  99. Thanx for help to me and this was a so good article and it help me to learn essay and it also teachs me that how to. Make an essay and I am in 5th now thanx for helping me

  100. It help to learn an essay and it is very nice essay and thanx for helping me I know now that how the essay is been written first I didn’t know how write an essay but I know now

  101. Good. Article very useful

  102. I like this article very muchI m very helped by this article
    Thanks for putting it on internet

    Its helped me a lot thnx

  103. Very nice article on Demonetisation it had long term impact on our country only when it is implemented in a prepared way but although it is good article

  104. really very helpful fr my tmrw’s ASL

  105. Good essay…

  106. No inconvenience is been claimed by common people yet. They are saying it is a good and progressive step.And the economists too has welcomed the step. It is the opposition only critising it.As PM has destroyed their illegal money which they created for last 70 years.

  107. it is really nice and helpful

  108. It’s good for the Poor’s but a threat for the black sheep’s!!!!!

  109. It’sa good eassy it helps in writing eassy thanks

  110. It’s a nice article that i read

  111. Nice article keep weighting

  112. arun
    it’sa good and etc………………

  113. What an amazing and awesome essay of note bandi this essay help other black currency holder

  114. Good and perfect one …

  115. Nice essay ..really helping

  116. It’s very useful one….
    My sugestion is that it’s more help til when it can be made avilable in other languages also. ..

  117. Many countries have tried this way to eradicate black money but it is best executed by our hon’able prime minister

  118. really good as an article .(liable to be appreciated) , its the talk of the town .

    factually , i would like to say that there has been no substantial gain till now.
    If i am not very correct , please cite certain examples..

  119. Thank you. It helped me a lot in my boards

  120. Good idea for government

  121. Hmmm…Nice article I like it

  122. It helped me a lot to prepare myself for the board exams.

  123. demonitization is a great value curreny of India but after demonitization get the value Indian currency in international marker’s ……and poor people is lossed this demonitization …..

  124. Good it helped me to get whole plot behind demonization.

  125. It helped me a lot for my speech competetion and it was an arcticle
    to be appreciated.All the topics in it were vastly explained and it was to the point.

  126. After demonitization our country’s economic develop and I am totally agree with PM Modi.
    Written by Lovlesh.

  127. I like the the way of ruling of this government

  128. It helped me a lot … A big slot of information in just few lines… As this is the current happening/news in the society and I’m appearing for HSC examination so therefore I need to be updated so that even if we get a question of speech on the topic demonization, I will be able to right the same plot. Thank you and it is very helpful for me

  129. it helped me a lot…….

  130. The eassy is like media report. And I like it very much.

  131. Thanks for your article

  132. It is very intrested in banking exam and others ,it will help to write an essay in sbi po exam 2017..i like it.

  133. Good to read ! But the only way to curb this demon of corruption is the awareness among common people . Until and unless they come to know of their doings to get some of their work done without bribery, it is only a far dream waiting to come true.

  134. Niceeè☺one liked by me

  135. Nice article

  136. Thank you so much for your Article

  137. -It is a best article
    -It covered all imp.points
    -Thanks for help

  138. Very impressive.

  139. Awsmm act

  140. very cool. man!

  141. Bole to good hai

  142. Nicely writen coooooooll essay

  143. This article will help me much in my board exams of English language on 10th March if this topic would come to write

  144. Good attempt. Very helpful info on this topic

  145. Disgusting this method
    I don’t agree

  146. It is a very good sassay for me

  147. it is very useful

  148. Thanks to examweb.in for the essay
    I got the proper thing that I need…

  149. nice article…..luv it

  150. it was really awesome

    i welcomed htese things from my heart……

    thank u modi ji………….

  151. article was amazing

  152. This article was a great help

  153. Super article I liked it very much and it is useful

  154. This Article is very helpful for me
    I have my board class
    I have exam in 10th March I would like to do my composition in this only…

  155. I think this is a right step taken by the government to curb corruption

  156. Wonderful essay

  157. It will help me in writing essays on this type of topics in boards of 2017

    Thanks

  158. Thanks for this help

  159. Vry nice decision
    Thnxx modi jee

  160. It is a very good essay students can get better help for their examinations nd can also increase their general knowledge
    Thanx

  161. Thanks for wizards article on demonetisation

  162. This article will surely help if it comes in my board xams on 10th march

  163. Ya this was very very very very very very useful for my Icse board exams on 10th March 2017 .

  164. Good essay.Useful to study for board exams

  165. It was good and would help me in my boards. Thanks!

  166. Nice article i like it

  167. Loved both the move and the essay

  168. A good essay,it will really help me for boards

  169. Nice article if come in my board exam

  170. The essay is very interesing and pleasing for the fact that it has only the advantages of demonetisation but think urself have we achieved any of those impacts promised by modi rather we have paid a big price for this demonetisation……….. N our economy has gone back several years

  171. It would greately help me for my forth coming icse exam on 10th march

  172. This is very helpful in english 2017 board. Good work

  173. Typical language
    Sry but I don’t like it

  174. It’s a very nice and easy language essay which will help me in my boaRd exam. It’s a value based topic.

  175. 9 ko CBSE Mei article aayega.

  176. awesome man what a essay i am finding demonitisation essay from 2 hours and now i got it
    bhagwan kare bas icse mai aajaye….then full marks
    thanks vishal gupta

  177. Thnx for your excellent article!✌
    Today I have exam of English!! It will surely Help me

  178. A big master piece
    It will help in my boards today
    Thankyou

  179. Thanks for this essay. It had really helped me in writting the essay on the topic of “DEMONITIZATION”which had came in my exam.
    And keep up the good work Modi!

  180. Good thought but badly organised

  181. Very good essay.It will be helpful for ise board exam

  182. I like it it is the best decision of modi ji thanks

  183. Nice essay very helpful

  184. Need more improvement in impact containing both good and bad . Especially about effect on economy.

  185. Useful for my ICSE board examination

  186. very good essay ! Will surely help all students facing the board exams hopefully!

  187. Nice essay it will help me in ICSE exams

  188. A fabulous essay . This has provided me with some pt which will help me

  189. Nice comprehension. …..my language ICSE exam will held tomorrow and this will be useful to me

  190. It should show the bad impact too .
    By the way it will help me for my ICSE exams tomorrow.
    Thanks.

  191. Up me namo sarkar

  192. Helpful for board exams!!

  193. Thank a lot I think this essay will surely be helpful to me in my ICSE BOARD EXAM and I think I can score good marks in language thanks for essay …

  194. It will help me in my board exam in my eng paper.

  195. Nice essey it will help in my board examination today

  196. It will help in ICSE exams

  197. Today is my board . I will see how far is it helful

  198. The way this essay has been written is just appropriate and the language is good enough to understand thanks it helped me for my boards!

  199. Excellently explained thnk u so much……it will be very helpful for my boards

  200. good article it is informative.

  201. Tomorrow is my board exams hope topic related to this comes

  202. I like this decision . Thanks Prie minister

  203. There is a english paper on 15 th march and this essay will be helful inmy board exam

  204. Thank you PM Modi I support this decision. Tomorrow is my SSC board exam and English paper and this will help me a lot. GUJARAT

  205. I gate use full for me thank as

  206. Good article …… Thank you……… it’s really informative ………

  207. Thanks it will use for my board exams

  208. Today is my board exam I live In vadodara and I loved the fanatic way u explained its just monotonous enough for me…it really helped a lot____!

  209. Too gud article…appreciate

  210. good article i am impressed

  211. it wll hlp on my boards exmntion

  212. I like this article very much i hope that this topic mudt come in my isc board paper so i can write it in this excellent method .

  213. I loved this article…It will definitely help me for my ssc cgl exams … Thanks a lot

  214. good explaination ,I’m from manipur 11 arts student my name is Max.

    I like it
    Clear cut explanation I’ve ever seen

  215. Good explanation
    Surly it will help in my board examination

  216. Very nice work sir thanks a lot for writing.

  217. It helped me a lot….really clear explanation

  218. One of the best essay I have ever read

  219. Article is so nice it will definitely help in my board examination

  220. everything is done for the name and fame

  221. Really nice one. I wish that like it helped me, it will help others too

  222. nice one bro…………..
    it is really helpfull..

  223. Really helpful THANK YOU …..

  224. Thank u so much sire it helps me in exams of class 9th . But this is the topic of higher class . On this basis thanks again . Plz send replay or send email od i want to talk with u sire

  225. awesome essay
    Definitely will help me in my final examinations

  226. Definitely the essay is very helpful for exams & homework.We can get much information on demonetization.Thanks a lot.

  227. This will definitely help me and lead me to a rank in essay writing competition…

  228. It really best one and also helpful for my broad exam and for holiday homework.

  229. Vishal sr thx A lot coz u hv put the grt n unique information on this site it …..Really a grt information for all of us…..Gen salute for ur positive thinking….Jai. hind Sr….. Sumit….

  230. It’s superb it very helpful

  231. not so bad, far too short!!!!

  232. We need other help and your also helped but you think about that why it create dimonetisation (wgm) and wins

  233. Yooooo!!!awesome.this website made me to complete my project work and get 20 marks in my board

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