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Abstract

The Indian Economy which was billed as the “fastest growing major economy” in the world and the “only bright spot” among Emerging Markets seems to have slowed down even before the latest “shock therapy” of “demonetization”. As per the recent estimates by some economists, nearly 90% of the total cash in circulation has come back into the banking system. On the other hand, with more taxes being collected due to higher deposits in banks that can be taxable as well as increased compliance due to greater scrutiny and oversight by the IT (Income Tax) Department. An attempt has been made to draw the impact of demonetization process and its reflections in India. 

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