Demonitization: Boon or bane to Indian Economy

Demonetization is a very bold step taken by Government of India on November 8.2016. Demonitization is not a new economic event in India. This country has faced demonetization in the year 1946 and 1978 also, but the unique feature of demonetization this time is that, this step is taken by the government in stable economic and political economy evident by macroeconomic stability and fastest growing economy. Common causes of demonization are hyperinflation, wars, political upheavals are other extreme circumstances. Demontization has been declared by the Prime Minister Shri Narendra Modi keeping in view wide array of objectives. Most important objectives covered by this paper are curbing of corruption, black money, avoidance of tax evasion, promoting digital India.