"Demonetization"-A sneak peek into after effects.....
World is discussing about India's Demonetization policy. Most of the people have accepted it wholeheartedly but some have defined it as debacle. It is very early to judge this Indian government initiative, which is definitely planned, futuristic and bold. The demonetization program has been evaluated in context of its short term costs and long term gains. Many international agencies has got into it but they are not certain about results such as Moody, Fitch and many more. Let's have a sneak peek into pros and cons of Demonetization. Here it becomes very important to understand the context where Government has to bring it. In last decade or so we have seen two pay commissions-6th and 7th. Approximately 30% salary rise in 6th pay commission and 23% rise on top of that in 7th one. Our defense budget has become 115% of 2000's i.e. approx. 2.5 times of our GDP rate. Now we need to realize that Government was earning very less and spending too much and continuously inc