How Banning of Bank Notes have Impetus on Economic Structure of India?

Modi Mumbai

The Prime Minister, Shri Narendra Modi makes his statement to the Media, in Seychelles on March 11, 2015.

The demonetisation of Rupees 500 and 1000 banknotes was the policy that was enacted through Indian government on 8th November 2016. The policy stated that the usage of all 1000 and 500 Rupees of Mahatma Gandhi are considered as legal tender in India from 9 November, 2016. This announcement was made through the Prime Minister of India Narendra Modi in unscheduled live televised address during the night prime time 20:15 on 8 November, 2016.

He also declared that usage of all five hundred and thousand bank notes of Mahatma Gandhi would be considered as invalid after the same day midnight. He also announced the issue of new notes of Rupees two thousand and five hundred banknotes. However, the banknotes that are having denominations of hundred, fifty, twenty, ten and five of Mahatma Gandhi series and two and one had remained as legal tender and did not affected the policy. This has created a lot of hassle in Mumbai and Modi Mumbai is in news.

The BJP government claimed that demonetization was one of the efforts to stop all the counterfeiting of current banknotes in Mumbai that were allegedly utilized for funding the terrorism and this was a crackdown on the black money in India. This move has been described as the best move for reducing the corruption and use of drugs as well as smuggling.

This move has received support through many bankers and also from the international commentators. This was also criticized through opposition party members and also led to debates in parliament houses and it also triggered many organization protests against the Modi Mumbai government in many places of India. As the money shortage has been grown in weeks, the demonetization has been criticized through many economists.

Latest news of currency notes: Modi Mumbai

Lately, Prime Minister Narendra Modi had warned dishonest people in after he has given the last deadline of 30 December for depositing the scrapped currency note and they should not underestimate the country mood against corruption. Narendra Modi as Chief Minister has drafted the policies that were credited with promising and boosting economic growth and has also received the praise for the same.

During the time of his tenure he began several industrial projects that were named as Modi Mumbai projects. His administration was criticized for not being able to improve the education indices and health and poverty of state. Narendra Modi was in favor of forming a small government and privatization but this thought was not going well the RSS philosophy. This was usually described as anti-globalization and anti-privatization. During his second tenure, his policies were credited with reducing the corruption in the state.

Prime Minister Narendra Modi has addressed the gathering at MMRDA ground that is located at Bandra Complex, Mumbai. He said that corrupt have made the efforts to defeat his decision that is demonetization.

There are many people who have thought of managing the bank officials and through which they can get converted their black money into white money especially in Modi Mumbai. There are many things that have been caught in Mumbai and he also said that whole of India will have to face the trouble and pain for 50 days. People are ready to bear the pain for few days for country’s interest.

The UPI Banks that have been recently introduced in the payment system by RBI has also been a big win for PM Modi.

Early life of Prime Minister Narendra Modi

Damodardas Narendra Modi was born on 17th September 1950 and he is 14th Prime Minister of India. He holds his office from 26th May 2014 and is the leader of Bharatiya Janata Party. He was also the Chief Minister of Gujarat from the year 2001 to year 2014. Narendra Modi is active Member of Parliament through Varanasi. He was born in an OBC Gujarati family in Vadnagar and was helping his father to sell the tea. Later on, he started running his own tea stall. Being a child, he was introduced to right wing nationalists of Hindu organization and started to begin an association with the same organization.

After he completed his graduation, he left the school and rejected the idea of arrange marriage. He started to travel India for the period of 2 years and also visited to ample of religious centers. It was in year 1969 or 1970 that he returned to Gujarat and laid back in Ahmedabad. It was during this time that he became full time worker for RSS. In year 1975, emergency was imposed in India; Narendra Modi has been forced to go in hiding state.

It was in year 1985 when RSS had assigned him to BJP and he held many positions within the party itself from year 2001. From there on, he rose to the rank of general secretary. It was in year 2001 when Narendra Modi was appointed the Chief Minister of Gujarat and this was mainly due to the failing health of Keshubhai Patel. Another reason was the poor image that came up during the earthquake in Bhuj. Thereafter, Modi was soon elected in the legislative assembly. His administration has witnessed a lot of complicit during the riots of 2002 Gujarat. However, he was criticized for handling the situation but there was no court that can find evidence to prosecute Narendra Modi.

He is also well known in Gujarat for establishing many technology and financial parks. It was in year 2007 when summit Vibrant Gujarat took place and there were real-estate and investment deals of worth Rupees 6.5 trillion were signed.

The administration of Narendra Modi has branded Gujarat as the state of economic growth, prosperity and dynamic development and with the slogan- Vibrant Gujarat. The government that was led through Modi and Patel were supported by various communities and NGOs and that led to the creation of groundwater conservation water projects. It was by December 2008, more than 500, 00 structures were created and out of which 113,737 were the check dams and that helped in recharging the aquifers that were present beneath them. Out of 112, 60 of the tehsils had depleted water table in year 2004 and had started regaining the normal levels of groundwater by year 2010.

The result was that the production of genetically modified cotton and genetically modified electricity became the largest in whole India. It was in year 2014 general elections, when Modi led the Bhartiya Janta Party and this also gave the majority to the party in Lok Sabha.

It was for the first time that any party has achieved this since year 1984. Narendra Modi was elected himself for the parliament through Varanasi. After when he had taken the office, the administration of Narendra Modi has invigorated the foreign direct investment in Indian economy and that also increased the infrastructure spending. This also reduced the money on social and health welfare programs especially in Mumbai.

Narendra Modi Mumbai has encouraged competence and effectiveness in bureaucracy and also centralized the power through abolishing the planning commission. Narendra Modi is known for beginning the high-profile campaign of sanitation and also having loose views on labor and environmental laws. He is known as a Hindu nationalist and also the member of Rashtriya Swayamseval Sangh. Narendra Modi Mumbai is known for remaining the controversial figure internationally and domestically.

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