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Demonetisation of 500 & 1000 rupee notes

CA Varsha Mishra (Chartered Accountant) (166 Points)

12 November 2016

Dear Sir, I just wanted to know the impact of the decision of scrapping of 500 & 1000 rupee notes on market and economy of India in brief. And I also wanted to know about the pros and cons of such decision.

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160332 Points)
Replied 12 November 2016

Generally, it has been appreciated by one and all, except some opposition leaders. Though its negative way of boost, but overall results will be positive in long run.

CARE’s View :::

In spite of the initial hiccups and disruptions in the system, eventually this change will be well assimilated and will prove positive for the economy in the long run.

Black money hoarders will definitely lose out, eventually boosting the formal economy in the long run.

Short term fall in real estate prices might benefit middle class citizens.

This move by the Government along with the implementation of the GST will eventually make the system more accountable and efficient.

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