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Title: :  DEMONETISATION NOVEMBER 2016 - A FIASCO!
PaperId: :  C-1452
Published in:   International Journal Of Advance Research And Innovative Ideas In Education
Publisher:   IJARIIE
e-ISSN:   2395-4396
Volume/Issue:    Volume 2 Issue 3 2017
DUI:    16.0415/IJARIIE-C-1452
Licence: :   IJARIIE is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Auther NameAuther Institute
Prof. (CA) Nahid BhujwalaMaharashtra College of Arts, Science & Commerce,

Abstract

Accountancy
Black Money, Cashless Economy, Counterfeit Currency, Demonetisation, Economic Policy, Remonetisation, Planning
Demonetisation as a blunt instrument of economic policy was used by various countries of the world in the past. It was also implemented by the Government of India in the past. Prime Minister Narendra Modi announced on 8th November, 2016 the Government of India’s decision to cancel the high denomination currency of 500 rupees & 1000 rupees as the legal tender with effect from 9th November, 2016. The demonetization of currency was motivated, as per the press release issued by the Government of India to eliminate black money ‘which casts a long shadow of parallel economy on our real economy’ and to curb counterfeit currency, which is used to finance terrorism and drugs and as a conduit for money laundering. The Government also said that in place of the delegalized currency notes, it will introduce two notes in the denomination of 500 rupees and 2000 rupees, which will be distinctly different from the outgoing notes in size, design, colour and look. However, the key point to the issue was whether procedure followed for the process of demonetization of the high denomination which is 86% of the money in circulation was planned out and modalities properly decided to tackle the implementation of this decision. Also, whether it served the intended purpose for which it was implemented. The main source of data is secondary, journal articles and conference papers related to demonetization in general and information regarding the current demonetization policy announced on 8th November, 2016 in particular are considered. Here an attempt has been made to scrutinize the reason for the failure on the part of the Government to properly implement the Policy and the hardship caused to the public in general.

Citations

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IJARIIE Prof. (CA) Nahid Bhujwala. "DEMONETISATION NOVEMBER 2016 - A FIASCO!" International Journal Of Advance Research And Innovative Ideas In Education Volume 2 Issue 3 2017 Page 124-127
MLA Prof. (CA) Nahid Bhujwala. "DEMONETISATION NOVEMBER 2016 - A FIASCO!." International Journal Of Advance Research And Innovative Ideas In Education 2.3(2017) : 124-127.
APA Prof. (CA) Nahid Bhujwala. (2017). DEMONETISATION NOVEMBER 2016 - A FIASCO!. International Journal Of Advance Research And Innovative Ideas In Education, 2(3), 124-127.
Chicago Prof. (CA) Nahid Bhujwala. "DEMONETISATION NOVEMBER 2016 - A FIASCO!." International Journal Of Advance Research And Innovative Ideas In Education 2, no. 3 (2017) : 124-127.
Oxford Prof. (CA) Nahid Bhujwala. 'DEMONETISATION NOVEMBER 2016 - A FIASCO!', International Journal Of Advance Research And Innovative Ideas In Education, vol. 2, no. 3, 2017, p. 124-127. Available from IJARIIE, https://ijariie.com/AdminUploadPdf/DEMONETISATION_NOVEMBER_2016___A_FIASCO__1452.pdf (Accessed : 06 November 2018).
Harvard Prof. (CA) Nahid Bhujwala. (2017) 'DEMONETISATION NOVEMBER 2016 - A FIASCO!', International Journal Of Advance Research And Innovative Ideas In Education, 2(3), pp. 124-127IJARIIE [Online]. Available at: https://ijariie.com/AdminUploadPdf/DEMONETISATION_NOVEMBER_2016___A_FIASCO__1452.pdf (Accessed : 06 November 2018)
IEEE Prof. (CA) Nahid Bhujwala, "DEMONETISATION NOVEMBER 2016 - A FIASCO!," International Journal Of Advance Research And Innovative Ideas In Education, vol. 2, no. 3, pp. 124-127, 2 2017. [Online]. Available: https://ijariie.com/AdminUploadPdf/DEMONETISATION_NOVEMBER_2016___A_FIASCO__1452.pdf [Accessed : 06 November 2018].
Turabian Prof. (CA) Nahid Bhujwala. "DEMONETISATION NOVEMBER 2016 - A FIASCO!." International Journal Of Advance Research And Innovative Ideas In Education [Online]. volume 2 number 3 (06 November 2018).
Vancouver Prof. (CA) Nahid Bhujwala. DEMONETISATION NOVEMBER 2016 - A FIASCO!. International Journal Of Advance Research And Innovative Ideas In Education [Internet]. 2017 [Cited : 06 November 2018]; 2(3) : 124-127. Available from: https://ijariie.com/AdminUploadPdf/DEMONETISATION_NOVEMBER_2016___A_FIASCO__1452.pdf
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