Iranian MP Announces $3 Million Award For "Whoever Kills Trump"
Madras High Court grants interim stay on proceedings against Karti Chidambaram in tax evasion case
Samsung unveils 'smart almirah' that can clean, iron your clothes
Budget 2020: Economic reforms, infrastructure spending key to India's $5 trillion economy target
Microsoft introduces Math Solver app, uses AI to solve problems
Budget 2020: Govt needs to strengthen ARCs; provide stimulus to the voiceless sector
Hyundai Kone Electric Sets New Guinness World Record
India-Malaysia meet likely on the sidelines of WEF 2020 amid palm oil row
Xiaomi spins off POCO as an independent brand
Tamim Iqbal, Rubel Hossain return for Pakistan T20Is
Will US-China trade truce impact India?
Pakistan PM Imran Khan To Be Invited To India For Regional Summit SCO
Budget 2020: Govt likely to raise LTCG tax holding period to two years
IT spending to reach $3.9 trillion in 2020 globally
Bank strike on January 31, February 1 over demands of wage hike
US To Recognise Sikhs As Separate Ethnic Group In 2020 Census
Captain Tania Shergill To Become First Woman Parade Adjutant for the Republic Day parade
"Literate Need To Be Educated": BJP Leader On Satya Nadella
Bajaj Chetak electric scooter launched, price starts at Rs 1-1.15 lakh
Apple pushes recycling of iPhones with 'Daisy' robot to recover minerals

Latest Posts

3 years of demonetisation: 66% say PM Modi's note ban negatively impacted economy

Three years after Prime Minister Narendra Modi announced demonetisation, 66% people in an online survey believe it had a negative impact on the economy and labour employment. Whereas, only 28% of respondents said the decision did not have any adverse effect in a survey carried out by LocalCircles, a citizen engagement platform.

Meanwhile, around 33% of the people who participated in the survey blamed demonetisation for causing a downturn in the economy.

According to a lot of economy watchers, the note ban affected the unorganised sector the hardest resulting in a lot of job losses. The decision to invalidate 86% of the currency in the economy also began a spiral effect where consumption dropped owing to income loss, especially in villages.

Nearly a third of the respondents (32%) in the latest survey concurred with this view holding demonetisation responsible for many workers in the unorganised sector losing their incomes.

Whilst, among those who polled on the positive effects of demonetisation, 42% said that the note ban broadened the tax net encompassing a large number of tax dodgers.

The survey also revealed that the use of cash (in businesses and individual transactions) that had fallen after the note ban was announced has increased in the past two years.

PM Modi on November 8, 2016, had announced a ban on high-value currency notes of Rs 500 and Rs 1000 with the objective to fight black money, corruption and terror funding.

One of the key poll promises of Narendra Modi-led BJP in the 2014 Lok Sabha elections was bringing back the black money.

×

Alert Message

Ok
Please Wait...

Share the Opinion Poll with your Friends At

Ok

Share the Survey with your
Friends At

Ok
×

Statistics

Ok
No
×

Statistics

Ok