Demonetization Debate: A Policy Review

This policy review paper aims at making a general discussion of positive and negative effects on the demonetization decision of 500 and 1000 rupee notes in 2016 made by the Indian government. The paper concludes that although there are numerous negative after-effects of demonetization policy such as sufferings in rural banking, disturbance in small & medium businesses and sufferings for farmers & agro-traders, it also has several positive outcomes on the Indian economy, such as an increase in tax return, an increase in transactions on bonds & financial instruments, and an overall revitalization.