• Dr. TANVEER AHMAD DAR

Demonetization is one of the bold steps of the Government towards the transformation of the Indian Economy. It is probably one of the biggest big-bang reforms undertaken by Government after a long time. Demonetization announced on November 8, 2016, was aimed at addressing corruption, black money, counterfeit currency and terror financing. The decision was guided by the aim of reaping its enormous potential medium-term benefits in the form of reduced corruption, greater digitization of the economy, increased flow of financial savings and greater formalization of the economy. All of these would lead to higher GDP growth and tax revenue that could be used by the Government for inclusive and stronger economic growth within the norms of fiscal prudence, besides contributing to overall improvement in the business environment in India has traditionally been a cash-intensive economy. The major objectives of the study are- 1. To study the concept of Demonetization and its need in the Indian economy. 2. To study the various effects of Demonetization in the various sectors of the economy. 3. To examine the advantages and disadvantages of Demonetization. Once the currency was demonetized, they made it mandatory to link Aadhar Number to bank accounts and to PAN Card. With these details, Income Tax departments will track all the details easily and can stalk the suspects effectively. They can easily figure out one's actual income itself with details of his assets. It's the first step for future digitalization as well. Demonetization can be said as a “Surgical Strike‟ on Black Money, Terrorism, Fake Currency, Unorganized trading, Real Estate, Share market etc. on the other hand if we talk about the Indian industry on a broader way it can be categories in three parts Manufacturing sector, Service sector and Agriculture sector. After demonetization, only Agriculture sector shows some positive improvement while if we talk about the manufacturing and service sector both were crashed down and these will affect the whole Indian market in 2017 also. The biggest beneficiaries of demonetization were Banks. It made the banks to accept the deposits without any cost of promotion and drastically increased the liquidity position of the banks.

Demonetization, Black Money, Impact on the Economy, Corruption, Parallel Economy

"A STUDY ON THE IMPACT OF DEMONETIZATION ON THE COMMON MAN AND ON THE INDIAN ECONOMY", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 3, page no.99-104, March-2019, Available :http://www.jetir.org/papers/JETIR1903O17.pdf

"A STUDY ON THE IMPACT OF DEMONETIZATION ON THE COMMON MAN AND ON THE INDIAN ECONOMY", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 3, page no. pp99-104, March-2019, Available at : http://www.jetir.org/papers/JETIR1903O17.pdf