Demonitization and Its Impact on Indian Economy

Rupinder kaur

Abstract


On Nov. 8, 86% of India’s currency was nullified in a great demonetization effort that aimed to scrap the black market's cash supply and fake notes which completely disrupted the social, political, and economic spheres of the world’s second largest emerging market.

Prime minister Narender Modi’s move to discontinue Specific bank notes (Old Rs. 500 and Rs.1000) created havoc and lot of discomfort for the general public, and since there was shortage of new currency , situation worsened, leading to shortage of even lower denomination notes such as Rs. 100 and Rs. 50


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