Published Paper Details:

The demonetizations in India in November 2016 occurred on a very different magnitude than those in Jan 1946 and Jan 1978. This time, Prime Minister Modi's administration& its regulations extended to 86.4% of the coins and bank notes in the circulation or 11% of the GDP. The two objectives of this strategy was to decrease black currency and corruption in the Indian economy and to improve financial inclusions& develop a more robust digitalized economy. Demonetization is the process of removing legal tender status from a monetary unit. The head of the administrator took unexpected action that has affected India & its finance sector. It has affected the economy's rate of growth broadly speaking. It affects consumer shopping habits as well as other societal elements like families and online enterprises. Demonetization has also had a short-term negative effect on the Indian economy, including a minimal GDP increase, the loss of wage-earner jobs in some sectors, Agriculture, and some adverse effects on the real estate market. Compared to large farmers, marginal farmers were more impacted regarding sowing, buying inputs, and selling agricultural products. The general public has shifted away from traditional cash-only transactional patterns and toward electronic transactions. The whole value chain of the textile and garment sector was impacted by demonetization. The citizens of India are now subject to many restrictions due to demonetization. They had to wait in queues to exchange their currencies, had issues with banks and ATMs to deposit their money and issue fewer goods and commodities because of a lack of cash liquidity.