New Delhi Nov 3: Currently the people are recovering from the pain they have borne because of the structural reforms such as GST and Demonetization taken by the central government. Nov 8 marks the completion of one year of the demonitisation decesion taken by Prime minister Modi.
The RBI had introduced Rs 2000 note and new Rs 500 note after it had banned old Rs 1000 and Rs 500 notes and many people have stood in ques for exchanging their old notes in banks.Many people even criticised the introduction of new Rs 2000 notes.
Currently, the government is working on the second round of demonitisation plan i.e to ban the 2000 note. The government is weighing pros and cons of the decisions.
# Many criminals/ Black money holders who have huge amounts of new Rs 2000 notes would be caught as many bank officials have allegedly helped few politicians and other to change there currency.
# People would appreciate the decesion and they would not suffer much because many people don't use high denomination of Rs 2000 as the availability of low denomination currency such as improved after introduction of Rs 200 notes.
# The government may face a backlash if huge amount of Rs 2000 notes turn up into banks similar to old notes .99 % of notes have returned to the banks
# Many traders and businessmen may suffer who deal with cash in their business activities.
Currently, the RBI has stopped printing the notes a few months ago and said that currently there are sufficient RS 2000 notes in the market and it would start circulating the notes when the demand arises.
But still, many people may not be surprised if the prime minister once again appears on the television on November 8 evening and announce demonitisation of RS 2000 note as they still remember the evening of last year that had affected many peoples lives.