Positive and negative effects of demonetisation
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- Merits -1) It helped India to be corruption free. 2) It also curb the menace of money laundering. 3)It helps to eliminate the circulation of fake currency. 4) It forced people to pay income tax returns
- Demerits - 1) Its announcement of demonetisation of the currency caused huge inconvenience to the people.
- 2) It had deeply affected business.
- 3)It left no jobs for the poor daily wage workers.
- 4) It made a huge loss to the country's economy because many people discarded the demonetised currency notes.
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