DEMONETIZATION

B.COM. (ACCOUNTING & FINANCE) - Seminar on “Demonetization” on 28th November, 2016

Demonetization is the trending topic at the present time. And the fact that it has affected every segment of the society cannot be neglected. Hence, the B.COM. (ACCOUNTING & FINANCE) course of the SIESASCN organized a seminar on the subject to make the students aware about the current affairs which have affected the Indian Economy as well as the whole world drastically.

The seminar took place with students attending it from various streams of the college. CA Ashok Shetty was the orator. The concept has a far and wide range, which is difficult to be summed up in a time frame of one hour. But the speaker presented it in a lucid manner by adding some statistics which was easily comprehensible to the students.

A major part of the country’s finance is bundled up in 500 as well the 1000 currency notes. And to suddenly demonetize them from the currency channel was shocking to the country. Whether or not it is the right decision can only be known in the future where the effects of Demonetization can be seen practically in the economy.

The talk also covered areas of Government expenditure and its sources of revenue, tax implications for the common man, etc. The benefits that are expected out of this exercise and the probable hiccups were also discussed.

The seminar came to an end by some suggestions by CA Ashok Shetty who said it was our duty as well as the most logical thing to do at these difficult times to accept the government’s decision. Mostly, he focused on being dependent on digital currency, partially if not fully, and also to make the layman understand the importance, effects as well the ways to handle their households effectively.