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Paper Details
Paper Title
An Overview on Impact of Demonetization in the Current Scenario (2016-17) of Indian Economy
Authors
Som Raj
Abstract
The argument posited in favour of demonetization, therefore it is imperative to evaluate the short run and medium-term impacts that such a shock is expected to have on the economy. This paper elucidates the impact of such a move on the availability of credit, spending, and level of activity and government finances. The Government of India announced that the Rs 500 and Rs. 1000 denominated currency notes will cease to be legal tender. The move was targeted towards tackling black money, corruption and terrorism. Declaration of 86 percent of currency notes as illegal tender in just a blink of time on eve of 8th November 2016 mandated the creation of immediate interruption in daily lives. The chaos was created in every strata of the society whether upper, middle or lower. This paper aimed at reviewing the general implications of demonetization on the people of India.
Keywords- Demonetization, Black money, corruption, underground economy
Publication Details
Unique Identification Number - IJEDR1801029Page Number(s) - 167-169Pubished in - Volume 6 | Issue 1 | January 2018DOI (Digital Object Identifier) - Publisher - IJEDR (ISSN - 2321-9939)
Cite this Article
Som Raj, "An Overview on Impact of Demonetization in the Current Scenario (2016-17) of Indian Economy", International Journal of Engineering Development and Research (IJEDR), ISSN:2321-9939, Volume.6, Issue 1, pp.167-169, January 2018, Available at :http://www.ijedr.org/papers/IJEDR1801029.pdf
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