Effect of Demonetisation on Indian economy 2016 – GDP data says it all

On 8 November 2016, Prime Minister of India Mr. Narendra Modi announced on T.V that use of all ₹500 and ₹1,000 banknotes of the Mahtama Gandhi Series would be invalid past midnight, and announced the issuance of new ₹500 and ₹2000 banknotes of the Mahtama Gandhi Series  in exchange for the old banknotes. The banknotes of ₹100, ₹50, ₹20, ₹10 and ₹5 of the Mahtama Gandhi Series and ₹2 and ₹1 remained legal tender and were unaffected by the policy. The government of India claimed that the demonetisation was an effort to stop black money in the country. Continue reading “Effect of Demonetisation on Indian economy 2016 – GDP data says it all”

Sharing is caring! Share the post to your loved ones