A Public Perception on the Effects of Demonetization in Indian Economy - an Analytical Study

Abstract

The move which was taken by the Indian government to demonetize notes of the high denomination was undertaken on 8th November 2016. This study aims to analyze the impact of this change on the general Indian demographic. This study also brings out important psychosocial trends and patterns in an important segment of society with policy implications and it attempts to analyze the reasons behind the observed social behavior. The finding was that the majority of the people believed that the move was in favor of the nation and had public support but somewhere there also seemed to be an apparent lack of planning on implementation of the scheme. Hence, this study has focused the public opinion on the demonetization of Indian currency, its influence and consequences among the Indian population in all aspects including socio-economic effects.