Kollegal, August 21, 2019: “Demonetization is a very big step taken by the Government of India towards curbing corruption and for development of the country,” opined Dr. Prabhavati, Assistant Professor, Govt. Women’s College, Chamarajanagara.
She delivered a special lecture on the topic “Demonetization – Problems and Challenges”, organized by the Economics department, of the JSS Women’s College, Kollegal.
“Demonetizing the highest denomination currency of our country is a part of the big effort initiated to eliminate several criminal activities including corruption, circulation of black money, fake currency, etc. However, it is a factor that has brought satisfaction and happiness for the people who pay taxes promptly. It also helps the country to achieve economic stability, and the government should take the right steps towards this,” she explained.
Prof. Umesh, Principal, in his address observed that though earlier the Govt. of India had decided to demonetize the highest currency notes twice, it was not very successful in making an impact on black money. The economic system can be purified if it is implemented systematically and a positive impact can be made on savings and investments. It also helps in instilling confidence among the investors, expect an increase in production capacity, improve banking transactions and strengthen the economy of the country.
Prof. B. Somanna, HoD, Economics Department was present on the dais.