The present study discusses about the valorous step Demonetization taken by the Government of India. The major issues in India are corruption and Terrorism and the root cause of these issues is black money, which is the major cause for deprivation of the nation. There was a need to unearth audacious step to tackle the various issues regarding black money, corruption and terrorism. The central government of India has decided the Demonetization of Rs.500 and Rs.1000 currency notes on 8th November 2016. However, 87% of total currency was constituted by these notes, being the reason for scrapping of these high denomination notes as legal tender. The current research is based on secondary data assembled from different sources. The present study makes an attempt to study the history of demonetization in different countries and point out the overall consequences of Demonetization and its inferences for sustainable development of the country.
Demonetization, Black money, Economy, Development, Denomination
International Journal of Trend in Scientific Research and Development - IJTSRD having
online ISSN 2456-6470. IJTSRD is a leading Open Access, Peer-Reviewed International
Journal which provides rapid publication of your research articles and aims to promote
the theory and practice along with knowledge sharing between researchers, developers,
engineers, students, and practitioners working in and around the world in many areas
like Sciences, Technology, Innovation, Engineering, Agriculture, Management and
many more and it is recommended by all Universities, review articles and short communications
in all subjects. IJTSRD running an International Journal who are proving quality
publication of peer reviewed and refereed international journals from diverse fields
that emphasizes new research, development and their applications. IJTSRD provides
an online access to exchange your research work, technical notes & surveying results
among professionals throughout the world in e-journals. IJTSRD is a fastest growing
and dynamic professional organization. The aim of this organization is to provide
access not only to world class research resources, but through its professionals
aim to bring in a significant transformation in the real of open access journals
and online publishing.