Now a days children have become smarter than the previous days. It is easy to make them understand the difference between right and wrong things but hard to make them follow. however, some people believe that punishment should be mandatory for the disobeyed children (who does not follow the right path).
Firstly, children's brain are very much sensitive as well as sharp to remember or to understand. It is the right time to make them understand the sense of integrity. If they does not get punished for negative work, they will follow the wrong way rapidly. This will impact in future in every growing stage. For example, if an under aged student come back late home and parents do not punish for that then the student may do the same thing rapidly and can hamper his aim.
On the other hand, if he would punished at the very first day for late night coming, he would alert for the next time. Same theory can be applied at the home for the better future of a child. However, some parents are very much possessive about their children that whatever their child do, they do not punish their child. This kind of attitude can encourage their child to walk through wrong way without fear.
Although I agree with the punishment of children, it should be relevant with the ages. Otherwise, it may affect children's mentality badly which can create distance between the relationships. For example, physical punishments may cause negative thinking about the person and create distance relationship but punishment like keeping away from favorite online games, TV shows, traveling, gathering etc can be effective for the children. Which punishment should be effective that must be found or chosen by the parents / teacher wisely according to their children's behavior.
In conclusion, punishment may lead a children to chose right path if it is applied wisely by the parents or teacher. Punishment may create emotions on both sides but very much effective for the better future of their children.