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India’s Demonetization: A Short-Term Loss or a Long-Term Gain? |
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ABSTRACT |
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| The case discusses India’s demonetization in 2016 which resulted in the scrapping of high value currency notes of Rs. 500 and Rs. 1,000. This was the third time in the history of India that the government had junked notes of high denomination to attack black money. The primary objectives of the 2016 demonetization were to curb the circulation of counterfeit notes in the economy along with removing black money, corruption, and stopping funding of activities of terrorism. Though the move was intended to curb illicit activities, it ended up causing chaos among the common people of the country and suffering to small businesses and traders due to the cash crunch. There were serpentine queues of people outside banks and ATMs to exchange the junked notes and withdraw new currency of Rs. 500 and Rs. 2,000... . |
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PayPal (11 USD)
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Issues |
| The case is structured to achieve the following teaching objectives: |
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- Critically analyze if the government will be able to achieve the desired objectives of controlling black money and curbing corruption through demonetization.
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- Suggest what additional steps are required by the government to achieve these objectives.
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- Analyze the short term and long term implications of demonetization on the economy.
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- Analyze the decision of the government in the context of the experience of other countries who went for demonetization.
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- Analyze the challenges involved in implementing a cashless economy.
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Keywords |
| Demonetization 2016,Rs.2,000,Black Money,Counterfeit Currency ,Government of India,Reserve Bank of India,Narendra Modi,Cashless Society,Terrorism,Illicit activities,Income Tax |
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