australia-to-follow-narendra-modis-demonetization-footstepsModi has become an inspiration not only to Indian leaders but also to countries on the other side of the globe. Australia has too now planned to ban their high value denominations to eradicate corruption and destroy black money. Black money is a worldwide issue and the countries are choosing demonetization to get rid of the same. Looks like it has become a trend now.

Coming to Australia’s demonetization, the country has planned to ban A$100 notes which is the highest denomination of their country. But the process would be complicated to Australia, as unlike India, Australian currency is in circulation in other countries too due to its easy exchange. And it is estimated that about 300 million notes of Australian S100 are in circulation currently.

Australian government too has the same motto as Indian behind the demonetization, which is improving Tax revenue and reducing the cash transactions along with a lift in bank depositions. Australian citizen too is going to get cash trouble days but not as much trouble as Indians are facing as the government has given a hint of it far before the ban is implemented. But us we were given a big shock which we still trying to get adapted to.