Question

I want short paragraph about demonetisation

Answer 1

On 8 November 2016, the Government of India announced the demonetisation of all ₹500 and ₹1000 banknotes of the Mahatma Gandhi Series.[2] The government claimed that the action would curtail the shadow economy and crack down on the use of illicit and counterfeit cash to fund illegal activity and terrorism.[3][4] The sudden nature of the announcement and the prolonged cash shortages in the weeks that followed created significant disruption throughout the economy, threatening economic output.[5][6][7]

Answer 2

The Indian government has long struggled with the issue of the fake currency and black money. In 1946 and in 1978, the respective Indian governments turned to demonetization as the long-term solution to the problem. The same historical event would take place in India in 2016.