Demonetization and Its Impact on Indian Economy

Abstract

This paper discusses the impact of  the crucial step of demonetization  taken by  Our Hon’ble  PM Narendra modi on 8^th November, 2016 and  announced that currency of denomination of Rs .500 and Rs.1000 would not be a part of  legal tender .It was a step to curb black money and fake currency notes. The country was in surprise as no time was provided to manage liquid funds . Curbing black money was in election manifesto of ruling govt. but this would be solve in such a manner was indeed a surprise. People with non considerable amount of liquid cash will be forced to bring out their hidden income .