Essay on Cashless India
Cashless India is a mission launched by the Government of India led by Prime Minister Narendra Modi to abate annex of Indian abridgement on banknote and to accompany hoards of buried atramentous money lying bare into the cyberbanking system. The country boarded aloft this alteration to a cashless abridgement back the government took the advocate footfall of demonetization of old bill addendum of Rs 500 and Rs 1000 on November 08, 2016. This move was targeted at the affected bill circulating in Indian bazaar and the atramentous money that somehow able the alarm of tax authorities.
Post demonetization astute curtailment of bill in Banks and continued queues alfresco ATMs, gradually angry bodies appear agenda transactions, one of the prime requirements beneath cashless India. If the government succeeds in accouterment defended and fast agenda acquittal methods to the consumers and merchant establishments beyond the nation, again the dream of India acceptable a absolutely cashless abridgement will materialize.
Long and Abbreviate Cashless India Article in English
We are actuality accouterment a array of continued and abbreviate article on Cashless India to empower the acceptance with accessible actual accessible online in altered chat breadth – in 100, 150, 200, 250, 300 and 400 words.
These Cashless India Article accounting in a simple accent will advice the acceptance accept any one as per their requirements.
After action through these essays you will accept the abstraction of cashless India and its allowances on the economy.
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Cashless India Article 1 (100 words)
It was on 8 November 2016 that the Government of India took the accomplished country by storm by announcement that the bill addendum of Rs 500 and Rs 1,000 were no best acknowledged tender. The government move aimed at abbreviating the annoyance of atramentous or affected money which is abundantly acclimated to armamentarium abyss and terrorists as allotment of a alongside economy. The astute curtailment of money in the deathwatch of this accommodation led to continued queues of bodies alfresco ATMs or banks gluttonous to barter their addendum or abandoning cash.
But eventually, the move has angry out to be a beforehand appear cashless India that is apprenticed to pave the way for a cashless economy, apparent by greater transparency, affluence and accessibility in budgetary transactions.
Cashless India Article 2 (150 words)
The Union government’s demonetization action and the consecutive drive appear developing a cashless India accept arrive its allotment of both artery and bouquets. There accept been boundless protests organised by the action parties beyond the country adjoin the banknote crisis in the deathwatch of ban on old bill addendum of Rs 500 and Rs 1000.
However, the antecedent difficulties accept below now and the bodies are alpha to apprehend the safe and acceptable modes of agenda payment. Moreover, to animate the bodies to added go for cashless modes, the Narendra Modi Government has provided a bulk of incentives and measures.
The latest Apple Coffer address has mentioned that the demonetization will not accept any abiding adverse aftereffect on the bloom of Indian Economy. Rather it will prove benign with beforehand of the Indian abridgement ascent to 7.6% in budgetary year 2018. Clamminess amplification in the cyberbanking arrangement post-demonetization has helped the banks to lower lending rates, which in about-face is apprenticed to lift bread-and-butter activity.
Cashless India Article 3 (200 words)
The Union government headed by Prime Minister Narendra Modi has been affective appear acumen his eyes for a cashless India, anytime back the demonetization of the old bill addendum of Rs 500 and Rs 1000, which was appear by it on November 8, 2016. It was absolutely a adventurous move because the actuality that in India bodies are added codicillary on banknote than in alternative countries of the world. Suddenly, there was astringent curtailment of banknote in the deathwatch of this accommodation and bodies had to appointment abundant difficulties in affairs things they capital with little banknote accessible in banks and ATMs they would assemblage in amaranthine queues day and night.
Conclusion: However, the allowances of this move accept now started trickling in with added and added bodies switching to agenda modes of accepting and authoritative payment. India is gradually transitioning from a cash-centric to cashless economy. Agenda affairs are traceable, accordingly calmly taxable, abrogation no allowance for the apportionment of atramentous money. The accomplished country is ability the action of modernisation in money transactions, with e-payment casework accepting aberrant momentum. A ample cardinal of businesses, alike artery vendors, are now accepting cyberbanking payments, bidding the bodies to apprentice to transact the cashless way at a faster clip than anytime before.
Cashless India Article 4 (250 words)
Cashless India is a appellation coined afresh afterwards the Union government went advanced with its affairs to demonetize bill addendum of Rs 500 and Rs 1000. Initially, it led to astringent criticism as bodies faced abundant difficulties in exchanging the old bill addendum or abandoning banknote from their accounts.
According to the critics of the government, able arrange should accept been fabricated in beforehand to abutment the bodies in ambidextrous with banknote crisis in the deathwatch of this move appear cashless India. Also, able aegis measures are appropriate to bouncer online affairs adjoin artifice which is actual accepted in India. They critics added altercate that due to dearth of appropriate banknote breeze in the market, abounding bodies died and absent their jobs, painting a alarming account of India acceptable cashless post-demonetization.
However, afterwards the demonetization of the bill addendum of Rs 500 and Rs 1,000, the country has witnessed a billow in cashless affairs through the agenda mode, be it through credit/debit cards, adaptable buzz applications, Unified Payments Interface (UPI), BHIM (Bharat Interface for Money) app beneath Aadhaar Enabled Acquittal Arrangement (AEPS) or e-wallets etc.
Conclusion: True, there are difficulties in implementing the abstraction of cashless abridgement in a all-inclusive country like India area a ample cardinal of bodies are active beneath ache and poverty, yet a alpha had to be fabricated someday. Today, there is a sea change in the mindset of bodies with attention to agenda agency of budgetary affairs which are safe, easy, acceptable and transparent. There is no abode for atramentous money or affected bill in cashless India.
Cashless India Article 5 (300 words)
Cashless India is a afresh alien abnormality targeted to accompany a sea change in the country’s abridgement by the Indian government, transforming the cash-based abridgement into cashless through agenda means.
However, still there are assorted challenges to be addressed if we appetite to accomplish India cashless in accurate sense. India is a all-inclusive country and the accessibility of authoritative affairs through the online approach is not accessible beyond the country. In baby cities and villages, the bodies are mostly adversity due to astute banknote crisis situation. To accomplish India cashless in accurate sense, advance is appropriate to be fabricated in acceptable the ability appropriate on a accumulation calibration for cashless affairs beyond the country.
Handling the breeze of banknote with agenda technology has a ambit of advantages. Cashless affairs accept fabricated bodies accumulate all their banknote into the coffer and appropriately clamminess in the cyberbanking arrangement has increased. Also, it has chock-full the breeze of atramentous money, up to some extent. Now the banks and cyberbanking institutions accept added money to accommodate to the bodies to abutment the beforehand of Indian economy. The alternative best important advantage is that this bearings will accomplish bodies pay their taxes in a cellophane manner; appropriately the government will accept added money to run assorted schemes meant for the abundance of the public.
Conclusion: Post-demonetisation, the bodies accept assuredly started assertive in the ability of the artificial money in the anatomy of acclaim card/debit card, and alternative channels of cyberbanking payment. Online cyberbanking has acquired bulge due to dearth of abundant banknote in the market. Moreover, E-commerce modes of authoritative payments accept additionally become popular, as best of the bodies accept now started authoritative payments of alike Rs 50 through the agenda modes. All these developments are advised to be acceptable for the advantageous beforehand of the economy.
Cashless India Article 6 (400)
Cashless India is a move that has affected acceptation in the accomplishments of demonetisation of aerial amount bill by the NDA government at the Centre. On November 8, 2016, Prime Minister Narendra Modi appear demonetisation of bill addendum of Rs 500 and Rs 1000 and took the bodies by surprise. Bodies continuing in spiralling queues at ATMs and banks’ counters to barter their old bill addendum or abjure banknote became a accustomed arena beyond the country.
However, the new cashless anarchy afire by this move has gradually started alteration the mindset of people, who were beforehand mostly abased of bill addendum alone for accomplishing transactions.
Benefits of cashless India
Cashless transaction does abroad with any altercation to backpack cash.
It is in befitting with the common trend. Bodies charge not backpack any banknote in assorted countries about the apple as best of the affairs there are done electronically.
In agenda transactions, you can appearance history of your costs at one go which helps you to administer your account easily.
Since cashless affairs are traceable, they allure acquittal of taxes, wherever applicable, appropriately cardinal out use of atramentous money.
As tax collections become accessible through the cashless mode, it accelerates the clip of bread-and-butter development, authoritative it easier for the government to absorb on education, bloom care, application generation, basement and the all-embracing abundance of the people.
Increased tax collections advance to abridgement and description of the tax structure.
Transfer of budgetary allowances to the poor and the beggared through coffer alteration rules out their corruption by the arrant average men.
Cashless affairs accord a anatomy draft to affected bill or administration of atramentous money through Hawala channels. It additionally cuts the accumulation of unaccounted money acclimated in allotment of bent and agitator activities.
It saves the government abundant costs in press and apportionment of bill notes.
Increased clamminess of money with the banks makes them lower their absorption ante puts the huge amounts of banknote deposited with them to some advantageous use.
Conclusion: A allotment of Agenda India programme, the abstraction of cashless abridgement in India is centred about the eyes of transforming the country into a society, which is digitally enabled and empowered by several modes of cashless transactions. Consequently, agenda modes like credit/debit cards, adaptable wallets, banks pre-paid cards, UPI, AEPS, USSD, Internet cyberbanking etc accept acquired in currency, arch to cashless India in abreast future.
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