Generation of Digitization in Indian Economy against Of Corruption

Abstract

Demonetization refers to Withdrawal of a particular form of currency from circulation. It is a cleansing action for economic prosperity. On the midnight of 8th November 2016, the Government decided to eliminate the existing Rs 500 and Rs 1000 notes from circulation and gradually introduce a new set of notes. The government of Narenda Modi completely surprised his citizens by suddenly announcing withdrawal of larger denomination currency notes from circulation, forcing Indians to put their cash into banks. That would bring all the money into taxable account. Demonetization is not the first time in India, but introducing Rs. 2000/-currency note is first time in India. Demonetization is one of the big steps initiated by Government in addressing the various issues like black money, counterfeit currency, corruption, terrorism etc. This Research paper evaluates the Indian economy, to study the positive and negative aspects of demonetization and to assess the sectoral impact of demonetization on the economy.