Was demonetisation a success or a failure?

The data on Income tax returns filed also confirms the success of the demonetisation of the scheme. According to I-T Department data, number of income tax returns filed grew 6.5 per cent in FY 2015 to 40.4 million. It surged 14.5 per cent in FY 2016 and then jumped 20.5 per cent in FY 2017, the year of demonetisation.

Is demonization a failure?

But what has happened in reality? According to the RBI data, almost the entire chunk of money (more than 99 per cent) that was invalidated came to the banking system. Thus, data suggests that demonetization was a failure in unearthing the black money in the system.

Was demonetization a good policy decision give your opinion?

The government insists that demonetisation was a success, saying that it led to the formalisation of the economy, reduced dependence on cash, increased tax compliance and gave a boost to digital payments.

Was demonetisation a successful move?

If we analyse the key objectives of Demonetization, it has remained a success and has been termed as the greatest financial reform that aims to curb the black money, corruption and counterfeit currency notes. All the people who are not involved in malpractices welcomed the demonetization as the right move.

Was the demonetisation successful?

– Demonetisation has made India a lesser cash-based economy. At the end of the financial year 2015-16, Rs. 16.41 lakh crore worth of notes were in circulation, registering a YoY growth of 14.51 per cent over 2014-15.

Was demonetization successful in India Quora?

Demonetization is not successful in India, it was a failure if you measure the success by how much currencies have returned to RBI. For example, RBI had Rs10000 in market and RBI recieved only Rs 9900. That means RBI got benefitted by only Rs 100.

Did demonetization help India Quora?

Originally Answered: How did demonetization help India? The answer is simple. It did not.

Was demonetisation a good move Quora?

Originally Answered: Is demonetization good for a big country like India? Its good but now its definitely bad as implementation completely failed and black money still hoarding with many people in form of Rs. 2000/- notes which is horrible for common man and as usual corruption continues in higher denomination.

What are the results of demonetisation?

The move, which saw the currency notes of Rs 500 and Rs 1,000 denominations getting banned, wiped out 86\% of India’s currency overnight. The currency with the public, which stood at Rs 17.97 trillion at the time, declined sharply to Rs 7.8 trillion in January 2017, soon after demonetisation.