Question

Speech on Demonitisation (in simple language)?

Answer 1

On 8 November 2016, the Government of India announced the demonetisation of all ₹500 (US$7.90) and ₹1,000 (US$16) 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.