Demonetisation is an act of withdrawing or replacing the currency of a country due to various reasons. The various reasons of demonetisation are black money erosion, replacement of counterfeit notes, removal of corruption, terror funding and hawala transactions etc. This act has been taken place by the government of our country for any of the above mentioned one or more reasons. In our Country India demonetisation takes place three times after a certain span of time. The first Demonetisation was on 12th January 1946 (Saturday), second demonetisation was on 16th January 1978 (Monday) and the third demonetisation was on 8th November 2016 (Tuesday). This study focuses on deeper understanding of the concept of demonetisation, the various reason why it takes place and what affects it will put to the Indian Economy. The effect may be positive as well as negative. This study is basically descriptive in nature and, the short-term effects of demonetisation is somehow negative in nature, but the long-term effect of demonetisation is positive in nature.
Cite this article:
Ridwana Hasan. A Study on Demonetisation a Boom or a pitfall to the Indian economy. Int. J. Rev. and Res. Social Sci. 2020; 8(1):31-33. doi: 10.5958/2454-2687.2020.00007.6
1. Kushwaha Himanshu, Kumar Ashwani and Abbas Zainab April (2018) “Impact of demonetisation on Indian economy: A critical study” Vol – 5 (International journal of Management studies)
2. Singh Charan March (2018) “India since demonetisation” IIMB-WP no. 567
3. Swami Akhil and Jain Isha October (2017) “A study on the impact of demonetisation on various class of the society.”
4. Dr. Mohsen farhat and Sahni Stuti May (2017) “Demonetisation: A ripple effect on Indian Economy” IRA (International Journal of Management and Social Science.
5. All Websites