English हिन्दी
Connect with us

India News

5 years of Demonetisation: Social media users trend black day of Indian Economy, know why

Demonetisation is the act of removing a currency unit’s legal tender status. It takes place whenever a national currency is changed.

Published

on

Demonetisation is the act of removing a currency unit's legal tender status. It takes place whenever a national currency is changed.

By Tarannum

It has been five years since demonetisation took place on November 8, 2016. The announcement came later in the evening that surely shocked the people of the country. In the announcement, PM Modi said that Rs 500 and Rs 1000 currency notes will no longer be used as legal tenders. However, on this day, what came to our notice was a bit peculiar. Some of the users on social media started trending the hashtag ‘black day in Indian Economy’, in which it was mentioned that demonetisation was the black day of the economy.

One of the users wrote on Twitter that Demonetisation is a case of intentional looting and legalised plunder of our country. It has ruined our country’s economy and many small business owners and poor people have suffered greatly as a result of the government’s rash action.

Another user wrote that despite demonetisation, the cash circulation increased as well as the cash with the public also increased. He further said that no major black money was recovered that led to a negative impact on GDP.

Yet another user said that it was a masterstroke in which 99.8% of the money returned to circulation and millions of people lost their jobs and businesses. Adding further to it, he said that demonetisation has caused the death of innocent lives, distress to the working class and destruction of the economy.

What is Demonetisation?

Demonetisation is the act of removing a currency unit’s legal tender status. It takes place whenever a national currency is changed. It entails removing the current form or forms of money from circulation and replacing them with new notes or coins.

Read Also: Five years of demonetisation: A quick look at how it affected the economy

What was the reason for implementing demonetisation in India?

Demonetisation was done to minimise the amount of counterfeit cash in the economy, which is used to fund criminal activity. As soon as the announcement of demonetisation came, people started rushing to exchange their Rs 500 and Rs 1000 currency notes, resulting in cash shortages around the country.

Long queues were seen outside the banks, ATMs and small firms experienced temporary cash loss. The situation was considerably worse in rural India, where residents struggled to exchange and withdraw money due to a shortage of banks and ATMs in their area.

India News

Man attempting to cross India-Pakistan border in Rajasthan shot dead by BSF personnel

“We are investigating the case under these acts,” he added.

Published

on

Border Security Force (BSF) personnel shot and killed an individual attempting to cross the India-Pakistan border in the Ganganagar district of Rajasthan late on Tuesday, according to police.

Jitendra Kumar, the station house officer at Kesrisinghpur police station, stated that the man was trying to breach the barbed wire fence when he was spotted by BSF personnel. “They advised him to leave the area, but when he continued to advance, the BSF personnel shot him,” said the SHO.

Sriganganagar Superintendent of Police Gaurav Yadav confirmed that the suspect was allegedly trying to enter Indian territory around midnight on December 24, 2024. Despite warnings from the BSF soldiers, he did not heed their calls, which resulted in the shooting.

The incident occurred near a village in the Kesarisinghpur area. Items recovered from the intruder included Pakistani currency notes, a cigarette packet, an identity card, and other belongings. Authorities are currently gathering more information about him.

Ongoing discussions are taking place between the armed forces and police officers regarding the incident. An FIR has been filed that includes charges of trespassing and violations of the Passports Act and the Foreigners Act, according to Kumar. “We are investigating the case under these acts,” he added.

This incident is one of several similar occurrences along the border. In August, the BSF apprehended an intruder named Jagsi Kohli, who had entered about 15 kilometers into Indian territory in Barmer after locals alerted authorities that he was asking for directions to Tharparkar, a district in Pakistan’s Sindh province.

In March of this year, another person attempting to cross the border in Ganganagar was shot by BSF personnel. There have been additional incidents reported in October 2022 and twice in March 2021, all resulting in fatalities among the intruders.

Continue Reading

India News

Amit Shah, JP Nadda, Chandrababu Naidu among leaders at NDA meet in Delhi amid Ambedkar row

The alliance had decided to convene on the birthday of the late BJP leader, noted for successfully leading the first coalition government to complete its term.

Published

on

Union Home Minister Amit Shah, BJP chief J.P. Nadda and Telugu Desam Party (TDP) president and Andhra Pradesh Chief Minister Chandrababu Naidu among leaders of the NDA met in New Delhi on Wednesday to discuss different issues including Shah’s comment on BR Ambedkar days ago in Rajya Sabha.

In attendance, apart from Shah, Nadda and Naidu, JD-U leader and Union minister Rajiv Ranjan Singh, Apna Dal (S) president and Union minister Anupriya Patel, as well as JD (S) leader and Union minister H.D. Kumaraswamy were present.

Also present were Jitan Ram Manjhi, leader of Bihar’s Hindustani Awam Morcha (S) and a minister in the Modi government, Rashtriya Lok Morcha (RLM) president Upendra Kushwaha, a Rajya Sabha MP, and Thushar Vellappally, president of Bharath Dharma Jana Sena.

While the specific agenda of the meeting was not officially disclosed, sources indicated that discussions revolved around good governance and various political issues—principles that were central to Vajpayee’s tenure as Prime Minister. The alliance had decided to convene on the birthday of the late BJP leader, noted for successfully leading the first coalition government to complete its term.

Following the meeting, Nadda shared on X, “Attended the NDA leaders’ meeting in New Delhi today. Under the visionary leadership of PM Narendra Modi, India is achieving unprecedented milestones and has positioned itself as a global superpower. The NDA government remains committed to realizing the vision of ‘Viksit Bharat@2047’, ensuring a brighter and more prosperous future for all.”

Sanjay Nishad, chief of the NISHAD Party in Uttar Pradesh, described the meeting as “informal” and focused on Vajpayee’s legacy. He emphasised the importance of unity among all alliance members heading into future elections, mentioning that they congratulated the BJP leaders for their electoral victories in Haryana and Maharashtra.

Nishad further outlined that the meeting addressed coalition strategies to ensure that Prime Minister Modi’s initiatives effectively reach the populace and that electoral promises are fulfilled. He raised the topic of providing reservations for the fishing community, stating, “I presented evidence on this issue, as it was a poll promise. They will follow up with us next week to discuss it.”

Responding to inquiries about whether Amit Shah’s controversial remarks on Ambedkar were discussed, Nishad said, “We are here for the welfare of the people. Our energy should focus on achieving success in that area, rather than engaging with negativity from opposition parties.”

The NDA meeting underscores the alliance’s commitment to the proposed simultaneous elections, with all members backing the initiative. A Joint Committee of Parliament, established to review two bills related to simultaneous polls, is set to convene on January 8.

Continue Reading

India News

Manipur CM Biren Singh says state needs immediate peace, understanding between two communities

He claimed that the administration is responding quickly to the displaced people’s needs in areas such as education and agriculture.

Published

on

Manipur Chief Minister N Biren Singh on Wednesday emphasised the urgent need for peace in the state, which has faced ethnic violence since May of last year, and called on two communities to reach a mutual understanding.

Speaking at the Good Governance Day event held at the state BJP headquarters, Singh expressed confidence that the BJP could restore stability to the northeastern state, highlighting the party’s commitment to coexisting harmoniously.

“What is happening in Manipur today has multiple causes. Those who seek to divide the state are now questioning the government’s actions… they are driven by a desire for power,” Singh remarked.

He mentioned several initiatives, such as ‘Meeyamgi Numit’ (People’s Day), designed to foster closer relationships between officials and the public. “We do not oppose any specific community. The BJP’s position is clear: we advocate for the idea of living together and have initiated efforts to strengthen ties between the police and the community,” he stated.

Singh added that the state government is diligently addressing the needs of internally displaced persons by establishing committees throughout the administrative framework. He claimed that the administration is responding quickly to the displaced people’s needs in areas such as education and agriculture.

“We have not made any mistakes. Our goal is to ensure the well-being of future generations. It is essential for both communities to remain calm. Rather than dwelling on the past, we should concentrate on the upcoming NRC process, capturing biometrics, and using 1961 as the foundation year for the Inner Line Permit,” Singh said.

He also highlighted the government’s commitment to acting within a democratic and constitutional framework, noting that achieving these goals will take time. “What we require now is immediate peace and a resolution of misunderstandings between the two communities,” he concluded.

The ongoing violence has resulted in the deaths of over 250 individuals and left thousands homeless due to clashes between the Meitei community and Kuki-Zo groups since last May.

“Only the BJP can save Manipur. BJP leaders possess strong values of nationalism and social justice, practicing reality-based politics in the nation’s interest. If I am not nominated for a ticket by the BJP, I will remain loyal to the party,” Mr. Singh added.

He also highlighted several unity-focused projects initiated by the BJP government, mentioning that a Unity Mall featuring stalls from all ethnic groups in the state will be constructed with an investment exceeding ₹140 crores.

Continue Reading

Trending

© Copyright 2022 APNLIVE.com