Advantages of De-monetization
- The biggest advantage of
demonetization is that it helps the government to track people who are
having large sums of unaccounted cash or cash on which no income tax has
been paid.
- Another
benefit is that due to people disclosing their income by depositing
money in their bank accounts government gets a good amount of tax
revenue which can be used by the government towards the betterment of
society by providing good infrastructure, hospitals, educational
institutions, roads and many facilities for poor and needy sections of
society.
- Since black money is used
for illegal activities like terrorism funding, gambling, money
laundering and also inflating the price of major assets classes like
real estate, gold and due to demonetization all such activities will get
reduced.
