Does Demonetisation in India Achieve its Objectives?
Subject and purpose of work: T he d emonetisation e xercise i n I ndia a imed t o t ackle t he problems of black money, fake currency, corruption, and terror funding. The drying-up of cash due to demonetisation initially led to a significant increase in digital payment methods. However, large underp...
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| Format: | Article |
| Language: | English |
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Sciendo
2022-09-01
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| Series: | Studia Ekonomiczne i Regionalne |
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| Online Access: | https://doi.org/10.2478/ers-2022-0023 |
| _version_ | 1797316628162019328 |
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| author | Azeez N.P. Abdul |
| author_facet | Azeez N.P. Abdul |
| author_sort | Azeez N.P. Abdul |
| collection | DOAJ |
| description | Subject and purpose of work: T he d emonetisation e xercise i n I ndia a imed t o t ackle t he problems of black money, fake currency, corruption, and terror funding. The drying-up of cash due to demonetisation initially led to a significant increase in digital payment methods. However, large underprivileged informal Indians still prefer cash for their daily needs. The restoration of currency in circulation and increasing cash–to–GDP ratio in the following years questioned the success of digitalisation. Demonetisation has been noted to increase the tax base, tax collection and taxpayers. But this does not compensate for the negative impacts of demonetisation on the economy. Therefore, this paper tries to answer the question whether all of the stated goals will be achieved. |
| first_indexed | 2024-03-08T03:21:06Z |
| format | Article |
| id | doaj.art-f48348383e8c407a9d38e542097fcae5 |
| institution | Directory Open Access Journal |
| issn | 2451-182X |
| language | English |
| last_indexed | 2024-03-08T03:21:06Z |
| publishDate | 2022-09-01 |
| publisher | Sciendo |
| record_format | Article |
| series | Studia Ekonomiczne i Regionalne |
| spelling | doaj.art-f48348383e8c407a9d38e542097fcae52024-02-12T09:13:38ZengSciendoStudia Ekonomiczne i Regionalne2451-182X2022-09-0115333635010.2478/ers-2022-0023Does Demonetisation in India Achieve its Objectives?Azeez N.P. Abdul0Department of Economics, Aligarh Muslim University, IndiaSubject and purpose of work: T he d emonetisation e xercise i n I ndia a imed t o t ackle t he problems of black money, fake currency, corruption, and terror funding. The drying-up of cash due to demonetisation initially led to a significant increase in digital payment methods. However, large underprivileged informal Indians still prefer cash for their daily needs. The restoration of currency in circulation and increasing cash–to–GDP ratio in the following years questioned the success of digitalisation. Demonetisation has been noted to increase the tax base, tax collection and taxpayers. But this does not compensate for the negative impacts of demonetisation on the economy. Therefore, this paper tries to answer the question whether all of the stated goals will be achieved.https://doi.org/10.2478/ers-2022-0023demonetisationcounterfeit currencyblack moneydigitalisationcash-to- gdp ratiog10g33e12e42 |
| spellingShingle | Azeez N.P. Abdul Does Demonetisation in India Achieve its Objectives? Studia Ekonomiczne i Regionalne demonetisation counterfeit currency black money digitalisation cash-to- gdp ratio g10 g33 e12 e42 |
| title | Does Demonetisation in India Achieve its Objectives? |
| title_full | Does Demonetisation in India Achieve its Objectives? |
| title_fullStr | Does Demonetisation in India Achieve its Objectives? |
| title_full_unstemmed | Does Demonetisation in India Achieve its Objectives? |
| title_short | Does Demonetisation in India Achieve its Objectives? |
| title_sort | does demonetisation in india achieve its objectives |
| topic | demonetisation counterfeit currency black money digitalisation cash-to- gdp ratio g10 g33 e12 e42 |
| url | https://doi.org/10.2478/ers-2022-0023 |
| work_keys_str_mv | AT azeeznpabdul doesdemonetisationinindiaachieveitsobjectives |