Essay on demonetisation and its impact on indian economy
The negative impact of demonetisation was felt in all segments, especially in farm and industry. The RBI annual report for , released on Wednesday, shows that almost all the banned banknotes, or All economic agents were given a limited time window to deposit their existing notes with banks and replace those with new notes. This created a huge pressure on the banking system, marked by lengthening queues outside banks for about two months. The sudden decision had a two-fold impact on the Indian economy: an aggregate demand shock by reducing the supply of money, and, an aggregate supply shock by constraining availability of cash as a critical input for specified economic activities, such as purchase of inputs in the agriculture sector.
Impact of Demonetisation on Indian Economy: A Critical Study
The Impact Of Demonetization On Indian Economy - Words | Bartleby
It's been two years since Narendra Modi announced demonetisation with the objective to fight black money, corruption and terror funding. Today, Finance Minister Arun Jately in a Facebook post described the note ban as a "key step in a chain of important decisions taken by the government to formalize the economy". Before he became Prime Minister, Modi vowed to bring all illicit money stashed away in foreign countries, and promised that poor people in the country would get Rs 15 lakh each. Everybody knows black money won't be deposited in bank accounts of people.
Demonetization - Necessity and it's Impact on Indian Economy
Definition of 'Demonetisation': Demonetisation is the act of stripping a currency unit of its status as legal tender. In simple terms, the Central Bank of the country pull out the old currency from the circulation and introduces new notes to replace old ones. The main motive behind the demonetisation is to make economy free from fake note and black money. Prime Minister Narendra Modi had banned old notes of and rupees all over the country on November 8,
Impact of Demonetization on E- Commerce: Critical Analysis Introduction: India has seen a historic event on November 8, when the government announced demonetization with immediate effect. Demonetization of November and its Impact in India Abstract: Demonetization refers to the withdrawal of a particular form of currency from circulation. Demonetization is necessary whenever there is a change of national currency.
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