Abstract
The demonetization of high value currency Rs. 500 and RS. 1000 was a bold and emphasizing step of Indian Government and RBI on 8th November, 2016. Demonetization is the act of stripping a currency unit of its status as legal tender. The current form of money is pulled from circulation and retired, often to be replaced with new notes or coins. This paper deals with Effect of Demonetization on Indian Economy. It outlines the effects of demontization on GDP growth and impact of demontization on business. This paper makes a special note on merits of demontization. This paper concludes with some interesting findings along with policy suggestions.
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