International Journal of Applied Research
Vol. 4, Issue 12, Part E (2018)
Impact of demonetization on the Indian economy
Demonetization is the process of withdrawing a currency from circulation. Sometimes, a country completely replaces the old currency with new currency. It outlines the effects of demonetization on GDP growth and impact of demonetization on business. The frequent change in the narrative on objectives of the demonetisation to its visible impact on the poorest of the poor made other critiques calling government's narrative as spins in view of the "pointless suffering on India's poorest.
After one and a half year of Demonetization, Indian Economy seems to have done away with all the negative impacts of Demonetization. The Economic Survey of India 2017-18, released just before the presentation of General Budget 2018 in Parliament has emphasized that all the negative impact of Demonetization of Rs.500/- and Rs.1000/- currency notes has ended.
The Finance Minister Arun Jaitley on November 7, 2017 came out with a spirited defence of demonetisation announcement on November 8, 2016 calling it a “watershed moment for the Indian economy”.
How to cite this article:
S Swathi. Impact of demonetization on the Indian economy. International Journal of Applied Research. 2018; 4(12): 317-319.