Demonetisation-Challenges in Cashless Economy

Abstract

One contemporary issue that has shook the nation in its entirety is Demonetisation. Demonetisation is an economic policy which literally means "replacement of old currency unit with a new currency unit". It is the process to curb the issue of tax evasion, to eliminate corruption, black money, counterfeit currency and terror funding. Here, Economic policy refers to the actions taken by the government for setting levels of taxation, Government budgets, money supply & interest rates and other areas of government interventions into the economy. This article examines the policy of Demonetization from the standpoint of the noble object it purports to achieve and provides an insight on the positive and constructive effects that the policy has had on the economy. V. S. Krishna"Demonetisation-Challenges in Cashless Economy" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-5 , August 2018, URL: http://www.ijtsrd.com/papers/ijtsrd15934.pdf http://www.ijtsrd.com/other-scientific-research-area/other/15934/demonetisation-challenges-in-cashless-economy/v-s-krishna