A STUDY ON PERCEPTION TOWARDS DEMONETIZATION IN THOOTHUKUDI
Journal Title: GJRA-Global Journal For Research Analysis - Year 2019, Vol 8, Issue 4
Abstract
The Indian government stated objective behind the 2016 demonetization policy are as Follows; rst, to make India corruption free, second, to curb black money , third, to control ination, fourth, to stop terror nancing, fth, to make the people pay income tax and nally, to make a cashless society and create Digital India. The demonetization policy is seen as a nancial reform in the country but this decision is fraught with its own merits and demerits. The government of India, on 8th November, 2016 announced demonetization of all Rs.500 and Rs.1000 banknotes which stripped those currencies of their legal tender status. However, the lower denomination currencies Rs.10, 20, 50,100 and coins remained valid. This move was attempted by government to tackle three problems in economy viz., a parallel economy, counterfeit currency and terror nancing. This is not the rst time when Indian currency is demonetized in India. Demonetization has been implemented twice in the past on 12th January, 1946 and 16th January, 1978 to combat tax evasion and curb black money. However, this is the rst time Rs.2000 currency note is being introduced.
Authors and Affiliations
G. Sudha, V. Sornaganesh
Keywords
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