In a historic move for the Indian Economy, Prime Minster Narendra Modi announced on Tuesday the abolition of Rs. 1000 and Rs. 500 bank notes from midnight, which was aimed at curbing corruption and
draining out black money from the economy.

Following this development, the students of the Department of Journalism and Mass Communication of Kamla Nehru College for Women, Phagwara conducted a survey on this current issue in the college
premises and took the views of the faculty and the students.

While sharing her views, College Principal Dr. Kiran Walia appreciated this move and said that it will help in reducing the amount of Black Money in the economy. She said that this is a good move for the common people of the country and added that even if people have to face inconvenience for a few days,they should look at the wider perspective of this decision.

The faculty members of the college were united in their appreciation of the Prime Minster over this big move. But they added that since it was a quick decision, people were not prepared for it and had to face problem in their daily chores like buying groceries and food items, etc.

“This move will help solve the problem of black money at present. However, we will have to wait to know the exact long term benefit of this decision,” said Sanjna Walia, Head of Commerce Department of the college. Some of the faculty members also raised concern over the fact that once new currency notes will come in circulation, people may again start making fake currency which will again lead us to the same problem.

The students of the college said that this decision surprised everybody and many were left with no money in their pocket after this announcement. “The biggest problem that we faced was at the Petrol Pump as the operators are willing to take old currency notes, but they are left with no change so there also out Rs. 500 notes become useless,” said Palwinder Kaur, a second year student.