WEEK 2 ESSAY
The time is always right to do what's right.
- Martin Luther King, Jr.
November the 8 th 2016 at 8.00 pm, Honorable Prime Minister of India Mr. Narendra Modi was live on Doordarshan , India's state television, as he had mentioned that The Government of India is going to take a decision which will help the citizens of India towards digital India and be at the top on the world ranking list amongst the other countries . So, at and aro und 8 pm, he announced that Rs. 500 US$7 . 40} and Rs.1000 US$15} banknotes would be withdrawn from the financial system at midnight, saying it was a part of crack down on rampant corruption and terrorism .
This whole process of withdrawal of these two Indian Bank Notes was as known as Demonetization. A simple definition for Demonetization:
Demonetization is the act of stripping a currency unit of its status as legal tender. It occurs whenever there is change of national currency. The current form or forms of money is pulled from circulation and retired, often to be replaced by new notes or coins. Sometimes, a country completely replaces the old currency with a new currency. The opposite of demonetization is remonetization in which a form of payment is restored as a legal tender.
So, everyone had a question in mind why the Govt. Did this? And why not without any prior notice?
The answer for it is very simple the Govt. Wanted to stop or take out the scum called corruption from the country and as per the current calculation 90% of corruption has gone down . Every Indian Citizen was Hit by this change. The Govt. The goal was to combat India's thriving underground economy on several fronts: eradicate counterfei t currency, fight tax invasion ( only 1 % of population pay taxes), eliminate black money gotten from money laundering and terrorists- financing activities.
* The facts were clear when Mr. Modi put this decision across, as mentioned in ( page 47 ) on the Business Ethical Decision Making for personal integrity & social Responsibility, by Laura p Hartman | Joseph Desjardins | Chris MacDonald. Which was the first step in making decisions that are ethically responsible to determine the facts of the situation. Making an honest effort to understand the situation, to distinguish facts from mere opinion, is also essential.
The Indian Govt. Had also made sure that every citizen will be at peace if he pays all the taxes, but some citizens did not make a good attempt to be at peace and the problem is that " when we focus on the wrong things, we may fail to see the key information that will lead us to success", same was the issue with the citizens of I ndia, they concentrated on how they could come out of not paying the taxes and because of that the financial stability of India. * (Business Ethics Decision Making for personal integrity & social Responsibility (Laura p Hartman | Joseph Desjardins | Chris MacDonald. ( Page 67).
The time and the date which was decided by the Indian Govt. Was right as people were not aware of the consequences which they were going to face because of this change and the people who had black money they had to show it on records by any means and some of the business had to pay taxes which they were trying to steal from the Govt. A s the news reports and bank information and what The RBI financial head informed that now the financial stability of th e country will be in good hands as there is money in our countries account who could afford to buy another Country.
The decision taken by the panel who were helping Hon. Prime Minister of India, Mr. Narendra Modi, did not focus on their personal front, but they focused on the professional front of this country and the people or the citizens of this country's goodwill.
The decision-making model introduced in this book chapter 2 develops from the point of view of an individual who finds herself/himself in a situation. Personal integrity