Impact of Demonetization on Common Person of India

Dr. Pulla Srinivas


Conferring to encyclopedia demonetization means the act of shedding a currency unit of its status as legal tender. There are multiple reasons why nations demonetize their local units of currency. Some reasons include to turn down inflation, corruption, and to dispirit a cash system. The process of demonetization involves either introducing new notes of the same currency or completely replacing the old currency with new currency. This article was an endeavor to make a clear vision about it and its importance. It analyzed the India: Before Demonetization, During Demonetization and Future of Demonetization. Finally it concludes the Impact of demonetization on common person of India.


Keywords: Demonetization, India, Cash Less Society, Income Tax department.


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