Perception of people regarding effectiveness of demonitisation in Sonepat district of Haryana

Abstract

.The demonetisation of  of the Mahatma Gandhi Series banknotes were ceased by the Government of India on 8 November 2016and ₹1,000 (US$15) banknotes as a legal tender in India from 9 November 2016. To achieve the objective of the study, two hundred (N=200) respondents 100 males and 100 females were selected conveniently and purposely from rural areas of sonepat district as subjects. Questionnaire was used to assess the people’s perception towards current demonitisation and its relation with different parameters such as age, gender, occupation, monthly income and education. In order to examine the descriptive statics was applied to compare the association between different variables. It was found that most of the respondents  were in support of policy of demonitisation of ceasing five hundred and thousand notes in India to be replaced by new ones  and they perceive it to be effective despite of cash crunch, ATM queues, and the increase in governmental control over lives.