Volume : VIII, Issue : III, March - 2018

IMPACT OF DEMONETISATION IN INDIAN ECONOMY

Shalini M, Vidhyashree S

Abstract :

 

The government has implemented a major change in the economy by demonetizing the high value currency notes of Rs 500 and Rs 1000 denomination. The reasons for demonetization are , to control counterfeit notes that could be contributing to terrorism in order to secure our nation and  to  eliminate corruption and black money.The proposal by the government involves the elimination of existing notes from circulation and a gradual replacement with a new set of notes. Due to demonetization, banks and ATMs across the country faced severe cash

Shortages and there was a sudden change in the economy, whereas cash transactions and economic activities had been reduced to the greater extent, the study is mainly experiencing with the current immediate impact of demonetization in the economy.Sinceour nation is more of illiterates, low income group, agricultural groups and they are all dependent upon cash transactions than digital. Due to hackers people of the nation are scared to do online transactions. So Demonetization has hit trade and consumption with people struggling for cash to pay for goods and services .The study is also to analyze the effects of demonetization on various income groups of the country.

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Article: Download PDF   DOI : 10.36106/ijar  

Cite This Article:

SHALINI M, VIDHYASHREE S, IMPACT OF DEMONETISATION IN INDIAN ECONOMY, INDIAN JOURNAL OF APPLIED RESEARCH : Volume-8 | Issue-3 | March-2018

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