Impact of Demonetisation on Indian Economy


Authors : Dr. Y. Arundhathi.

Volume/Issue : Volume 3 - 2018, Issue 5 - May

Google Scholar : https://goo.gl/DF9R4u

Scribd : https://goo.gl/3V6iHH

Thomson Reuters ResearcherID : https://goo.gl/3bkzwv

Demonetisation is very good tool to make India corruption free. It was implemented with a very good intention to make India free of parallel economy . But actual problem was in implementation. Critical issues of common people like health , small business , old age people’s concern , sectors like Agriculture and small farmers issues, manufacturing sector which is a key sector that decides growth of the economy, inefficiency of rural banks etc., are to be addressed properly. The government objective behind this policy is 1. First it is an attempt to arrest black money Second to control inflation Third To stop funds flow to illegal activities, Fourth to ensure accountability among people. Finally it is an attempt to make a cashless economy and create digital India. In this paper an attempt was made to analyse the impact of demonetisation on Indian economy in the context of GDP growth rate and to examine further impact on sect oral growth rate especially manufacturing sector. There is a major impact on manufacturing sector. Manufacturing sector witnessed a downward trend immediately after demonetisation. It should be corrected immediately otherwise the growth pace of the economy may be disrupted.

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