Demonetization in Indian An Analysis
Honorable Prime Minister of India, Narendra Modi was made announcement of demonetization of large currency in an unscheduled live televised address on 8 November2016. In his announcement, he declared that use of all ₹500 and ₹1,000 banknotes would be invalid after midnight of that day, the two biggest denomination notes and announced the issuance of new ₹500 and ₹2000 banknotes in exchange for the old banknotes. The goal of government behind demonetization decision was to eradicate counterfeit currency, fight tax evasion, eliminate black money gotten from money laundering and terrorist financing activities, and promote a cashless economy. Honorable Prime Minister was appeal to people for adjust with inadequate currency till next fifty days and people was given positive response to Modi’s announcement. But people or bank customer from same queue was given their negative reactions after 50 days of demonetization. It is proper time to assess the impact of demonetization on socio-economic and political condition of India.