Has demonitization help in curbing corruption?

MARCH 2020 TOPIC: Do you think that demonitization has helped in curbing corruption in the country?

As far as the role of demonetization in curbing corruption is concerned, tax evasion has been contained to some extent as direct tax collections have improved and so also filing of tax returns. However, corruption continues due to lack of electoral reforms, donation to political parties and ceiling on holding of political offices.
Sukanya Basu Mallik
Techno India College, West Bengal

Corruption cannot be rooted out but it can be reduced. Demonetization has helped in curbing corruption to some extent. It helped the government to track black money. Large sums of black money were kept hidden by tax evaders. In my opinion, it has reduced corruption due to online transaction.
Aditi Bajaj (14)
St Joseph’s Convent School, Jalandhar

Demonitization, among its other benefits, has helped control terrorism which has made our defence system stronger. But it had some bad points also like the problems faced by the people especially those who are illiterate and didn’t know about government policies and bank accounts. But despite these, demonetization has helped the country in many ways.
Mannat Longwani
Sophia Girls Sr. Sec. School, Bhilwara

Demonetization was a good step, but was not implemented properly. The PM tried to eradicate corruption and terrorism, but wasn’t successful. Its effect is different for different levels of people: lower, middle and upper-level. The financial condition of the ordinary people suffered a lot. India is a very big country, it is difficult to take any single step for its development, taking into account the good of all; we have to understand this and support the steps taken by the government.
Shweta Mhatre
MACJ, Joshi Bedekar College, Thane

A coin has two sides, so also the demonetization has its positive as well as negative results. To an extent, it helped the process of curbing corruption. But in reality, it made the life of the ordinary people troublesome. Some even lost their lives. Who finally benefited from it is a big question that still remains unanswered!
Dennis Manoj (21)
Jeevalaya Institute of Philosophy, Bengaluru

I think demonetization was a good step taken by the government to reduce black money. But the offenders still find ways to hide their money and stay safe. There was a huge slowdown in the economy. There was a lack of proper planning. It was the most disastrous time for those people who earn and spend money on a daily basis. But it has definitely supported digital India campaign.
Guneev Kaur (13)
St Joseph’s Convent School, Jalandhar

Though demonetization has helped RBI to track black money hidden by tax evaders, the common people were facing problems. Corruption scandals are still very much there even after demonitization.
Radhika Jhawar
Sophia Girls Sr. Sec. School, Bhilwara

Demonitization was not effective in curbing corruption completely. Government has to find better ways to make our country corruption free which is one of the biggest constraints in the country’s progress. Demonitization is an act of banning a currency unit and turning it for commercial use but now money transactions are quite easy as technology has found better ways of doing it.
Sweta Raj
IGNOU, Patna

No, demonetization didn’t reduce corruption. The Government took a bold step to reduce black money, but it failed. Moreover, people faced many problems in the process. It couldn’t eradicate black money because people took bribes and didn’t let the government know about black money. Due to demonetization, many innocent people also lost their lives!
Nawaz Khan (16)
Little Flower School, Salempur

Demonetization was a bold step taken by the government to control black money, fake currency, corruption, terrorism and to increase tax collection. To some extent, it has brought in digitalization and has increased online transactions by the common people. Corruption to some extent is reduced, as due to the unavailability of printed notes, corrupt people have refused to take money online as the whole data was being governed by the government. But, in the current scenario, corruption has only changed clothes and is still there in the form of assets and liabilities.
Preksha Mohil (15)
St Anselm’s, Mansarovar, Jaipur

Demonetization was a good idea but was not implemented properly. The rich always find ways to save their black money. But it’s not a totally useless act as many have started online transactions under the government’s eyes.
Rashmo Mehta (14)
St Joseph’s Convent High School, Patna

Demonetization is a way of replacing the present currency notes with new notes. But, the question arises whether it was a success or a failure. I think it was a failure as it had a negative impact such as jobs, people running out of money, etc. People saw their savings losing its value. Many farmers got stressed as they didn’t know the net banking drill. Corruption was claimed to be reduced but was not successful. This could have been achieved by other initiatives than by demonetization. To quote the ex-RBI Governor Raghu Ram Rajan, “Demonetization is not a well-planned or well-thought out useful exercise.”
Ojasavi Jagetia
Sophia Girls Sr. Sec. School, Bhilwara

Demonetization promised to curb corruption but is that promise fulfilled? It reduced cash flow but not all the black money. What about the money in anonymous accounts in Swiss banks? Corruption is the result of greed in the human mind. Promotion of transparency, change in the mindset of the society, etc., are some of the solutions to this global problem.
Arunima (14)
St Joseph’s Convent School, Jalandhar

In my opinion, demonetization has helped the RBI to track a lot of black money and corruption. The circulation of black money linked with corruption got limited due to the change of certain currency notes that could be used in the market. But it proved very difficult for common people to survive on a day to day basis when inflation was at its peak.
F. Mohammed Zavid (12)
Mount Carmel Matric. Hr. Sec. School, Coimbatore

Demonetization was a good step taken by the Prime Minister. But, the common people suffered a lot by this. It failed mainly due to the improper planning by the government. Though demonitization did not produce the desired effect, still it had some positive impact on our economy.
V. Mythili (16)
Infant Jesus Mat. Hr. Sec. School, Manali, Chennai

I think that demonitization did little to curb corruption in India. As the Indian scenario is, soon enough a law is made, culprits forge ways to outwit it! In fact, when civilians were queuing up to exchange their capital, the malefactors got enough time to dump their illicit income. Apart from this, 85 to 90% economists at that time had regarded the move wrong. Demonitization policy could neither bring back the black money nor could it help the economy to flourish; leave alone the havoc and turmoil the entire nation and the people faced.
Diya Vinod Surjuse (15)
Agragami Convent School, Wardha

Even after three years of demonetization, I don’t see any big difference in India’s economy. The government specified it to be a move to curb corruption, but corruption is still intact. What affected most was the middle-class people’s life and health, and the GDP went down. Corruption can be reduced only by improving transparency, reducing discretionary powers and automating systems. Initiatives like direct and centralized processing of income tax returns, direct credit of income tax refunds, etc. could have been much better options.
Sargun Saini (16)
St Joseph’s Convent School, Jalandhar

Demonetization was a good initiative by the government to curb not only corruption but also terrorism. But I don’t think it had any effect in curbing corruption. In spite of demonetization, the flow of cash remained the same in the market. Since corruption is an activity in which only cash flow exists, corruption is not possible through cheque or RTGS. If the cash flow had stopped, then corruption would have automatically stopped. So the government should initiate minimum cash flow and launch new steps to curb corruption.
Samarth Chawla (15)
St Francis De Sales School, Janakpuri, New Delhi