International Research Journal of Commerce , Arts and Science

 ( Online- ISSN 2319 - 9202 )     New DOI : 10.32804/CASIRJ

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A STUDY ON IMPACT OF DEMONETIZATION ON INDIAN ECONOMY

    1 Author(s):  POONAM

Vol -  9, Issue- 11 ,         Page(s) : 30 - 39  (2018 ) DOI : https://doi.org/10.32804/CASIRJ

Abstract

It is well known fact that Indian economy has been facing many innovations and reforms from past decades. Government of India have been withdrawn the legal tender status of Rs.500 and Rs.1000, denomination of banknotes of the Mahatma Gandhi Series (MGS) issued by RBI till November 8, 2016. This move was targeted towards tackling black money, corruption and terrorism. It was a major change in the Indian economy because it consisting 86% (approx.) currency of the total currency circulation in economy. This move has been affected every strata of the society whether upper, middle and lower. In this paper an attempt is made to describe the demonetization and its impact on economy. The study is based on secondary data which is collected from various reliable sources.

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