Sir,
The decision of the Central Government to demonitise Indian currency notes of Rs 1000 and Rs 500 deserves appreciation. This is a bold decision for the welfare of poor masses of the country. This was a long pending demand of the people who had been feeling suffocated due to presence of blackmoney in the hands of some powerful people who include politicians and businessmen. This bold move may have certainly hit these indulging in hoarding, profiteering and black marketing.
This step is surely going to increase money supply to the banks which is turn will provide loans to the people at the cheaper rates and give boost to economy activity.
The move has draw sharp criticism from opposite political parties unnecessarily. They should have rather supported the move at this critical juncture.
Yours etc….
S Raj Sanjay Kumar
Sharika Vihar Roop Nagar
Jammu
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