Decrypting Demonetization and its impact on the sustainable economic growth in India

Abstract

This paper addresses the impact of Demonetization on sustainable economic growth in India after five years of Demonetisation in India. The study is exploratory. The data was collected through purposive sampling. Bank Managers, academicians and scholars located in New Delhi were interviewed. The unstructured interview schedule was used. The data pointed out that Demonetization adversely impacted the sustainable economic growth, as the informal sector in India, which constitutes more than ninety per cent of the total population of India, got severely affected by this move and was unable to continue contributing to the economy of India as the sector was doing in the pre-demonetization period. This paper will help understand the phenomena of Demonetization and the impact of the call for Demonetization on the sustainability of the Indian economy. Since the concept has not been researched sufficiently in the country, therefore, has ample scope to study further. The small sample size and location were the limitation.