A Public Opinion on the Impact of Demonetisation in Indian Economy

Abstract

           Demonetisation refers to the act of removing a currency as a medium of exchange. In the end this type of cash is off from circulation and retired. Its associate degree process within which a country’s currency unit is no longer a medium of exchange.Demonetisation could be a move within which a government bans the notes or coins of a particular denomination. The honorable Prime Minister Narendra Modi proclaimed ending in Bharat on Nov eight, 2016 wherever Rs five hundred and Rs one thousand notes were withdrawn from circulation. It had been a significant event of the year 2016. This paper makes an attempt to elucidate the that means of ending, examine the explanations for ending, verify the extent of ending, explore the positive and negative impact of ending on Indian economy.The study used both primary and secondary data. Primary data has been collected from 203 respondents using convenient sampling with structured questionnaires. Information such as age, gender, education, occupation on the impact of demonetisation was taken. Secondary information is also collected from various sources like books, articles, research papers, etc were collected. Primary data were collected through questionnaires. Simple percentages, graphs and chi-square were used.  It can be concluded that after demonetization, digital payment is increasing one. All peoples are trying to adopt digital payment. Black money has reduced in the Indian economy. Corruption has reduced in India. Deposit in the bank, short term may rise, but in the long term, its effect will come down. Due to demonetization , the gross domestic product of India will decline.