Published Paper Details:

Demonetization is an act to declare the old currency notes and coins as non-legal tendered for transactions in an economy and replaces the old currency notes with new currency notes. November 8, 2016 became a historic date in Indian economy. On that day, the Centre Government took a step to demonetize the Indian currency notes of Rs. 1000 and Rs. 500. This step is also called a heroic step to fight against black money, illegal transactions, terror funding and activities. The present paper aims to discuss about the objectives of demonetarization in Indian economy. The present study is descriptive in nature which is based on secondary data collected from different sources i.e. govt. reports, central statistical organization and Reserve Bank of India reports etc. The present study is carried out to find out the answers of certain questions like whether the step of demonetization is really a heroic step to clean the Indian economy from black money and illegal activities and what are the initial effects on GDP and Government Tax revenue of economy?