International Research journal of Management Science and Technology

  ISSN 2250 - 1959 (online) ISSN 2348 - 9367 (Print) New DOI : 10.32804/IRJMST

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DEMONETIZATION- IMPACT ON INDIAN ECONOMY

    3 Author(s):  JASLEEN KAUR ANEJA, VAISHALI JOSHI, HRIDYANSHA CHUGH

Vol -  8, Issue- 12 ,         Page(s) : 272 - 275  (2017 ) DOI : https://doi.org/10.32804/IRJMST

Abstract

Demonetization occurs wherever there is an act of national currency, wherein it is the act of stripping a currency unit of its status as legal tender. On November 8th, 2016, the government of India decided to demonetize the two biggest denominations in its currency system, the 500/- and 1000/- rupee notes of the country. Notes of 500/- and 1000/- accounted 86 percent of the country’s circulating cash, which would be adversely affected first when liquidity shortage strikes. The production of the state will automatically decline when consumption declines which will lead to less employment opportunities of the nation. Income tax returns would be forcibly paid by people due to demonetization.

1. Chaudhuri, Saumitra(2016): “Even world changes under Trump, India’s currency shortage will stay for months”, Economic Times Blogs, November 15
2. Lahiri, Amartya (2016), “ The Demonetization Boondoggle” Business Standard, 4 December
3. Sridhar, G Naga and N S Vageesh (2016), “Coming Soon To Your Wallets: Rs.2000 notes” Hindu Business Line, Oct 21 

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