A Study of Impact of Post Demonetization on Indian Economy, Society and Organized Retail Sector in India

Ms. Pooja Pandey; Dr. Kanchan Bhatia

doi:https://doi.org/10.51976/gla.prastuti.v6i1.611703

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A Study of Impact of Post Demonetization on Indian Economy, Society and Organized Retail Sector in India

Pooja Pandey, Kanchan Bhatia

Vol 6 , Issue 1 , January - June 2017 | Pages: 19-23 | Research Paper

https://doi.org/10.51976/gla.prastuti.v6i1.611703

Published Online: July 20, 2017

Author Details ( * ) denotes Corresponding author

1. * Pooja Pandey, Research Scholar, Faculty of Management, B.U. Bhopal, Bhopal, Madhya Pradesh, India (pooja.pandey120@gmail.com)

2. Kanchan Bhatia, Professor, Faculty of Management, Makhanlal University, Bhopal, Madhya Pradesh, India (drkanchanbhatia@gmail.com)

The Make in India initiative was launched by our Prime Minister in September 2014 as part of a wider set of nation-building initiatives like Make in India, Digital India and Smart City Mission. In an important move towards digital India is that the Government of India declared on 8th November 2016 that the five hundred and one thousand rupee notes will no longer be legal tender from midnight. And RBI issued new Two thousand rupee notes and new notes of Five hundred rupees and placed circulation by 10th November 2016. Rest of the notes i.e. one hundred, fifty, twenty, ten, five, two and one rupee will remain unaffected by this decision. This move is expected to cleanse the formal economic system and discard black money from the same and further the motive of this decision tend towards to increase the practice of digital payment mode in the country. Though people do not have sufficient cash amount in hand because of demonetization they could not make purchase from unorganized retail shops i.e. kirana shops, local stores. And this demonetization action leads them to make purchase from organized retails, where they can use digital payment mode. The research paper “A Study of Impact of Post Demonetization on Indian Economy, Society and Organized Retail Sector in India “study the impact of demonetization on market, on Indian economy and the retail sector of India. How our economy get affected by this decision and where retail sector stand post demonetization.

Keywords

Make in India, Initiative, Nation-building, Digital, Smart City Mission, Legal tender, Discard.

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