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India: Five key impacts of currency announcement

Posted on 09 November 2016

Prime Minister Narendra Modi’s decision to scrap Rs 500 and Rs 1,000 notes for fighting black money and corruption is a bold move. But this sudden move would have implications for the people as well as economy.
A jolt to unorganised economy - The Indian economy has the unique characteristics of a parallel unorganised economy which also contributes to employment , consumption and growth. This economy will receive a big jolt from scrapping of high value notes like Rs 1,000 and Rs 500…………………………………….Full Article: Source


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