WHAT HAS CHANGED IN THE ECONOMY IN INDIA FIVE YEARS AFTER DEMONETIZATION

Abstract

Demonetization entails recovering the nation's lawful tender. In the past, demonetization has happened in a number of nations across the world, including Australia, Ghana, Nigeria, the Soviet Union, and Pakistan, and others. It has also occurred in India on sometimes. On November 8, 2016, the most recently currency devaluation takes place. the key monetization aims try to reduce fraud, illicit market transactions, and corruption. This research paper's goal is to examine the historical background of demonetization in India, in addition the economic effects of monetization in India, including how it will affect Indian currency value, the stock market, the nation's GDP, inflation, and other factors societal segments and industries effect on digital payments, effect on India's inflation, and effect on tax payer. The key finding is that demonetization has a mixed effect on the Indian economy, having good and negative effects on different sectors.