Demonetization has been in everyday news and touched each one across the country . It has a huge impact on the lives of people in one or the other way that their daily life has disturbed a little in both positive and negative way. But can demonetization be called as cultural revolution needs some analysis.
Why it is cultural revolution:
- One of the objective of the demonetization is to force the people to go cashless and it achieved some success.
- It changed how the daily financial transactions are done for e.g. many small business adopted digital payment methods
- In a big way it made everyone to adopt the banking system to their daily financial needs
Why it can’t be cultural revolution:
- This step is aimed against the black money , corruption and terror funding . But it achieved very little success in this objects to be called as a revolution
- Though it has been expected to have hardships it caused a significant difficulties for the common man but with not delivering on its promises
There have been many opinions on whether the move is good or bad for the economy and people. But to become a cultural revolution it needs produce the steep changes in our daily lives. Couples with other steps like prohibition of benami transaction,recovery and preventing black money in non-cash forms etc, demonetization has potential to become a cultural revolution.