What Demonetisation Has Achieved, And What it Has Not
A villager shows his new Rs 2000 currency note in Beawar. (Image: PTI)
Three weeks after Prime Minister Narendra Modi announced demonetization its time to take see what it has achieved and what it hasn’t.
The decision to scrap high denomination notes has created a shortage of cash in the system, leading to serpentine queues outside banks and ATMs.
The move has also led to a shortage of lower denomination 50 and 100 rupee banknotes as people have taken to hoarding cash. The Indian economy is cash reliant and demonetisation has affected trade and commerce, apart from hitting consumer demand.
But on the other hand, it has flushed out some amount of the black money in the economy and resulted in real estate prices correcting somewhat.
News18 has prepared a detailed infographic about the positives and the not so positives of demonetization.