CHAPTER 9
Demonetization in India: A Critique
The 2016 demonetization has divided the citizens of India into two groups, one in its favor and other against it. Desperate times lead to desperate measures. Demonetization gave a new direction to the way people do monetary transactions in India and attempted to destroy the “parallel economy.” The big painful jolt of demonetization would create the right psychological milieu for the war against black money. As a cleaning exercise, demonetization can give birth to several good things in the economy. We bring out the major positive and negative consequences of demonetization in the following paragraphs.
Gains from Demonetization
| I. | Demonetization is expected to cleanse the formal economic system ... |
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