On demonetization short term effects: Psychosocial risks in tea garden workers.

Abstract

In November 2016, the government of India declared 86%of the total money in circulation as demonetized. This policy was brought into effect overnight, and it had great macro socioeconomic impact not only on the economy of the country but on the common people, especially the socioeconomically challenged. While several researchers have focused on, and continue to investigate, the effects of demonetization on the economy, its impact on the psychosocial health of workers has not yet been studied. To provide an exploratory investigation of the psychosocial consequences of demonetization on the workers in Indian tea gardens. A qualitative research approach was employed. Face-to-face interviews were conducted with seven key informants (clinicians and executives/managers), and 36 tea garden workers were involved in six focus groups. Collected data were analyzed using the Template Analysis technique. From the data analysis, five main themes emerged concerning the psychosocial factors involved in demonetization effects: socioeconomic changes, organizational consequences, workplace interpersonal relationships, work-family interface, and psychophysical symptoms. This preliminary study highlighted the significant impact that demonetization had on tea gardens at both the organizational and individual levels.