Kollegal, August 21, 2019: Dr. Prabhavati M C, Assistant Professor at Govt. Women’s College, Chamarajanagara, emphasized the importance of demonetization as a significant step taken by the Government of India in curbing corruption and promoting the development of the country. She shared her insights during a special lecture on the topic “Demonetization – Problems and Challenges,” organized by the Economics department at JSS Women’s College, Kollegal.
Dr. Prabhavati explained that demonetization, particularly the discontinuation of the highest denomination currency in the country, is part of a comprehensive effort aimed at eliminating various criminal activities, including corruption, the circulation of black money, and counterfeit currency. She highlighted that demonetization has instilled satisfaction and happiness among people who diligently pay their taxes. Furthermore, it contributes to achieving economic stability and calls for the government to continue taking appropriate steps in this direction.
In his address, Prof. Umesh, Principal of JSS Women’s College, acknowledged that previous attempts at demonetization by the Government of India did not have a significant impact on black money. However, he expressed optimism that if implemented systematically, demonetization can purify the economic system and positively influence savings and investments. It also instills confidence among investors, increases the capacity of the economy, improves banking transactions, and strengthens the nation’s economy as a whole.
The lecture was attended by Prof. B. Somanna, Head of the Economics Department, along with students and faculty members.
Demonetization, as highlighted by Dr. Prabhavati M C, serves as a crucial measure in the government’s ongoing efforts to combat corruption and foster economic progress.
