This day will definitely be written in golden words in the history of Indian economy. PM Modi declared earlier this evening that all the notes of denominations 500 and 1000 will be officially not considered as legal tender from midnight.
This decision is taken due to the increase in the corruption and black money in the country. The black money and corruption is mainly carried out with 500 and 1000 rupees and making these notes illegal will be an effort to eradicate corruption from the Indian soil; partially though.
It was a valid point noticed that what will happen to the people who have invested their black money in foreign countries? Their money is not in Rupees and when they will transact via those accounts, they will automatically get white money.
This decision is no doubt a very good decision to curb all the black money from India but, Modi Government has to work out on what they are going to do for the black money invested abroad.
It was a master stroke played by the PM which took the nation by storm. There are praises all over the country along with amazing memes which are forwarded on WhatsApp, Facebook and Twitter.
The spirit of Indians is too good, they never take anything seriously, they just find happiness in everything!