What are the positive impact of demonetization in India?

Black Money Reduced Significantly More money entering the government coffers increases the availability of funds for various social and economic development projects. Additionally, demonetization helped to identify individuals who have been evading taxes for years.

What do we learn from demonetization?

One of the important lessons Demonetization taught us is that curbing expense and doing savings during an emergency is possible. If you can bring this logic into practice in, you can look for good investment options and grow your wealth. Also, it is possible to invest in various investments and life insurance online.

What are the positive and negative impact of demonetisation?

GDP Came Down GDP of India has slowed down after implementation of demonetisation move as small industries were finding it difficult to carry out business. Due to decrease in consumption, demand for products in domestic market sharply fell down. GDP also rallied downwards from 9.2 in January 2016 to 7 in December 2016.

What is the main reason for Demonetisation?

It was done to reduce the presence of counterfeit cash to fund criminal activity. When the demonetization was announced, there were shortages of cash across the country, as people scrambled to exchange their existing banknotes.

Did demonetization have positive or negative impact on Indian economy?

What are the negative effects of demonetisation in India?

Since the implementation of demonetization, daily-wage workers, such as maids and housekeepers, have found it increasingly difficult to manage their lives. Cash shortages makes it difficult for them to get paid on time, which leads to skipping meals or working twice as much but for low wages.

What are the positive impacts of demonetisation?

During 2017-18, there was some positive impact of demonetisation on the widening of the tax base. The Income Tax department said it added 1.07 crore new taxpayers while the number of dropped filers’ came down to 25.22 lakh.