Impact Analysis of Demonetization on Business Sector
- Country : India
- Subject : Commerce
Demonetisation means when the Government declares the prevailing currency notes as illegal tender. It happened in India for the third time when ruling Government took this bold decision on 8th November, 2016. The objective behind this was very clear to the Government. They want to curb the black market, eliminate the duplicate currency and to minimise the corruption. This paper has been taken up to study the impact of this step on the businessman. The retail and informal sector suffered its all-time low during this period. The situation was becoming more and more panic. The study revealed that the panic was justified but it was for the short term. There were losses in the businesses, they faced low sales and consequently low profits but they are coming out of this situation gradually.