Volume : 6, Issue : 4, April - 2017

EFFICACY OF DEMONETISATION TO CURB BLACK MONEY IN INDIAN ECONOMY: A STUDY

Ritu Kang Walia, Suraj Walia

Abstract :

<p>&nbsp;<i><span lang="EN-IN" style="mso-bidi-font-size:&#10;12.0pt;line-height:150%;mso-bidi-font-family:&quot;Times New Roman&quot;">On November 8, 2016 the Government of India has implemented a major change in the economic environment by demonetising the high value currency notes of Rs 500 and Rs 1000 denomination with objective to unearth the black money in general and to curb the corruption, counterfeit currency as well as terror financing in particular. This move stops legal tender from the midnight of November 08, 2016. People holding notes of Rs 500 and Rs 1000 can deposit the same in their bank and post office accounts from November 10 till December 30, 2016. Keeping in the above back drop, the present paper is a humble attempt to highlight the extent of black money in India and to analyse the efficacy of demonetisation to curb black money.&nbsp;</span></i></p> <p class="MsoNormal" style="margin-bottom:0in;margin-bottom:.0001pt;line-height:&#10;150%"><i><span lang="EN-IN" style="mso-bidi-font-size:&#10;12.0pt;line-height:150%;mso-bidi-font-family:&quot;Times New Roman&quot;"><o:p></o:p></span></i></p>