New Currency : New Initiative

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 . 


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