Demonetisation Of High Currency & Its Effects On Indian Economy And Service Sectors

Research Article
Sandeep R. Shelar
Corruption Blackmoney Fakecurrency Tax Evasion

An economic earthquake was witnessed by Indian economy by NDA II government announced on 8 th November 2016 that Rs 1000 &500 notes will not be the legal tender and the old notes can be deposited by 31st December 2016. The main intension of Modi Sarkar was to curb corruption, black money, fake notes and to address the willful tax evaders who escape our tax net as only 3% of eligible tax payers file return and pay tax and others avoid and escape. There are some plus and some few drawbacks in this policy decision and March end 2017 Indian economy will get the correct picture how poor were benefitted.