November 8th 2016, an unforgettable day for every Indian in their entire life. The present generation and even the next generation also would never see like this type of monetary revolution like demonetization. So we the present generation are lucky and proud to live the era of demonetization.
As usual, there are two different views of Demonetization. One is favoring demonetization and others are against demonetization. The economic analysts supports the demonetization and they are enthusiastic about the policy of the Government and strongly believes that demonetization will definitely bring results in future. sometimes it may take two or three years to produce ultimate result.
On the other part, some of them are against demonetization and arguing that demonetization is one of the biggest blunder and foolishness of the 21st century. They argue that demonetization could not produce any result as the government suggest. The objective of the demonetization was to bring back the Black Money and cure the Money Market Economy. But as per RBI recent publication, reveals that 95% of the total money in circulation brings back to Banks.
Anyway the Demonetization has created a huge impact in the Indian economy and the number of people Using Digital channel increased manifold. So the Indian Economy is transformed to Digital Economy. The Government formed a new Mantra-“Digital India