• Geetha Gopalkrishna

Demonetization is not new to the Indian economy. According to RBI data “The highest denomination note ever printed by the Reserve Bank of India was the Rs 10,000 note in 1938 and again in 1954. But these notes were demonetized in January 1946 and again in January 1978”. Pavan Kumar Vijay stated that when the whole world was waiting for the outcome of US presidential elections, Prime Minister Narendra Modi came out with his master stroke on corruption, counterfeit currency, terrorism and black money by announcing demonetization and ceasing Rs 500 and Rs. 1000 notes as a part of legal tender in India. Demonetization can be assumed as a “Surgical Strike” on unaccounted Money, Terrorism, Fake currency, Unorganised trading, Real Estate, Share market. On the other hand Demonetization is a device to encounter the inflation, Corruption and Crime, depress a cash dependent economy and to assist the trade. The lack of liquidity has caused serious economic difficulties. After months of demonetization, cash was still scarce in many places. After the process of demonetization only the Primary sector shows some encouraging development and if we are taking about the Secondary and Tertiary sector both were smashed down and will affect the whole Indian market.

Income Group, Demonetization, Indian economy

"DEMONETIZATION CONSEQUENCES IN INDIAN ECONOMY WITH REFERENCE TO MIDDLE CLASS FAMILIES", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.11, Issue 10, page no.c822-c828, October-2024, Available :http://www.jetir.org/papers/JETIR2410296.pdf

"DEMONETIZATION CONSEQUENCES IN INDIAN ECONOMY WITH REFERENCE TO MIDDLE CLASS FAMILIES", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.11, Issue 10, page no. ppc822-c828, October-2024, Available at : http://www.jetir.org/papers/JETIR2410296.pdf