A country with a vast demography has a problem of inadequate talent in its judicial framework . it means that we are still not par with our judicial demands . our so called demography has turned into a burden in inefficient management.
A plenty of vacancies are there in Indian judicial department that shows the lacunas of bad infrastructure . supreme court is hearing approximately 90 cases average in a day and thousands of cases are still pending . all the high courts also have same scene .
So to reduce the burden on supreme court there was a recommendation of National Court Of Appeal in diffrent parts of the country .
But what about the vacancies that still exists ?
We talk about collegium . but this also is not the supreme form of transparency . so the problem somehow exists in our infrastructure.
The present collegium has certain lacunas , it doesn’t give equal participation to states CJIs .
Overall there is a immediate need of filling adequate staff in the judicial framework so SC can work on constitutionally important cases .
I was standing in a queue outside a bank for exchange of my old currency . I saw a group talking about pros & cons 0f demonetization of 500 & 1000 rs notes .
Then I didn’t join them but focused on my task of fetching money from bank . but I thought to make you provide the whole analysis of the demonetization .
In his recent address in Goa the PM Narendra Modi clarified the whole game behind curbing the black money.
If we analyze his words we come to know the whole picture .
One of his agenda on time of the election was “to curb the black money”. and he stayed firmed on his words .
All the process came step by step as follows –
1 . Pradhanmantri Jan Dhan Yojana
Every individual was linked with a mandatory bank account under the scheme of PJDY . earlier the black money holders used to use unorganized sector as their escape plan . but with this scheme this escape plan was already snatched .
2 . Direct Bank Transfer (DBT)
As a part of the policy this step was initiated for abolishment of middleman & prioritize subsidy mechanism . LPG (liquefied petroleum gas) was linked with bank account of every individual further eliminating all middleman. There are also other entities that has linked with DBT .
3 . Mandatory Aadhar
As part of identity enhancement every bank account was linked with Aadhar . this has increased the reach of banking sector in remote areas improving the banking surveillance network .
4 . Banktuptcy Bill
There has been a problem of rising Non-performing Assets in the banking sector in the ongoing decade . thus there was an early need of financial inclusion & debt recovery of assets . that’s why bankruptcy bill came .
5 . Gold Monetization Scheme
There has been a tendency of black money makers to invest in the gold . and there was not a tight mechanism in the sector , hence , came the GMS . its objective was to collect all gold in hard form as a time deposit and extra premium on the same . another a step to curb black money makers .
6 . Cash Less Economy (CLE )
The govt provided RuPay card to every household as a part of CLE . RuPay was accepted as online payment gateway by the banks . this was the most signatory step to have the idea of demonetization step .
7 . Extended Income Tax Payment Deadline
To give a chance to faulty people the govt published many news regarding income tax payment . the date was extended .
These were the hidden signs . if someone had understood he had taken right step . but no one was expecting the worst address on the eve of 8 nov 2016 .
Finally it was the time to make announcement of DEMONETIZATION .
The honourable PM has seeked 50 days time period to eliminate the devil (black money ) . masses are eager to see the charisma of their loved prime minister .
21st century is continuously facing the problem of terrorism .terrorism is an religious ideology that has turned in political tone now . there is war to get political supremacy and this is generating the problem of terrorism .
The west asia is experiencing consistent livelihood problems caused by war . the ongoing war in Syria , Iran-Saudi Arabia , Yemen crisis etc all have resulted into terror activities in the region . ISIS and Al-Qaeda have emerged in such conditions . they hate the democracy and leading towards autocracy in the long time period .
South Asia is also destabilised due to terrorism . the major parent of terrorism in South Asia is Pakistan . Taliban and LeT have their influence over the region .
The increasing periphery of the terrorism in the world is bad .
Terrorism is causing so many problems in the world as –
1 . increased autocracy
2 . Refugee crisis
3 . Livelihood problems
4 . Illegal child & woman trafficking , smuggling , counterfeit currency market etc .
Therefore , Terrorism is the devil which need to be ended as soon as possible otherwise there will be massacre of cruelty till death . the govt should focus on attitudinal change .
What is black money ?
This is the right time to understand the definition of black money .
Black money is something which is earned by escaping the legal norms .
But unfortunately this money which was earned with so much of tactics is now of no use at all .
The denomination of 500 & 1000 rs notes in the country resulted the black money in just a piece of paper in overnight .
This black money was earlier making so many problems like terror & overseas non-state funding , illegal arms & ammunition supply , smuggling , child & women trafficking , money power during elections and much more .
But the new currency reforms has set an agenda to combat these problems .
The banking sector will be strengthened as there will be a lot of financial inclusion .
This will also be good for MSME sector as there will be less liquidity in market in short run .
The financial inclusion will result into solving the problem of rising non-performing assets with further interest rate reduction .
Overall , there may be some problems in short run but it is a welcome step towards future .
a country which was infamous for corruption , is in news due to new currency reforms . the recent announcement of withdrawal of old currency notes by PM Narendra modi has set an example to combat the evil of corruption .
this step will be beneficial for poor and middle class families . the decision will lead to many positive as well as negative impact on the economy in short and long run .
there are some impacts of the reform as discussed below –
1. Real estate industry
Reduction in corruption will result into reduction of prices in real estate industry . earlier the industry has been the core consumption of black money . this is a good sign in the economy in the long run .
2 . Inflation reduction
withdrawal of old currency would result into inflation reduction as corruption would be controlled .
3 . Strengthened international status
the initiative will lessen corrupt activities further improving india`s status in corrupt countries globally .
4 . Anti-terrorism
the reforms are anti-terrorism in nature as black money was used to fund terror organisations in overseas countries . this will also be a major setback to counterfeit currency market .
overall , this is a welcome step . the nation is progressing and this is a good illustration towards way to success .
This is to be a welcome step of withdrawal of old currencies . this will benefit laymen and will be a burden on bribe lovers . this sudden withdrawal will be a setback on black money makers , real estate kings . the rapid reduction in currency may occur in the problem of adequate liquidity in short run . the central bank should focus on demand meeting of new currency notes .