Was demonetisation a failure in India?
Remember, the government had originally expected that at least Rs3-4 lakh crore black money will get extinguished outside the banking system due to demonetisation exercise alone. Thus, data suggests that demonetization was a failure in unearthing the black money in the system.
How many people died in demonetization in India?
It has said four people, which included three bank staff and one customer, died during the demonetisation and were paid compensation as well. Union Finance Minister Arun Jaitley, laying out the details in response to a question in Rajya Sabha, has admitted that State Bank of India reported these four deaths.
What are the negative effects of Demonetisation in India?
Since the implementation of demonetization, daily-wage workers, such as maids and housekeepers, have found it increasingly difficult to manage their lives. Cash shortages makes it difficult for them to get paid on time, which leads to skipping meals or working twice as much but for low wages.
How many people died in Demonetisation line?
demonetisation: Since Nov 8, over 80 people have died in ATM queues.
What is the date of Notebandi?
Three years back, on November 8, 2016, Modi, in a televised address had announced that Rs 500 and Rs 1,000 currency notes — 86 per cent of all currency notes in circulation in value — would cease to be legal tender.
What are the disadvantages of demonetisation in India?
The biggest disadvantage of demonetisation has been the chaos and frenzy it created among common people initially. Everyone was rushing to get rid of demonetised notes while inadequate supply of new notes affected the day to day budgets of citizens.
What are the advantages and disadvantages of demonetisation in India?
A Comparison Table for Advantages and Disadvantages of Demonetisation
| Advantages | Disadvantages |
|---|---|
| Demonetisation can result in a decrease in tax evasion by individuals and ensure the implementation of practical public measures. | Every ATM in the country needs to be remodified to allow the exchange of currency. |