Authors
Maulesh Patel
Abstract
Demonetization hit hard people and sectors both, although short-lived impact were not as one expected people had to face many inconvenience. It had hampered growth rate of various industries especially real estate where cash flow needs to be smooth in order to run things flawlessly. It had caused abrupt stoppage of many projects resulting in creating chaos between migrant workers who lives on daily wage system. This study focuses on the impact of demonetization on real estate sector and brining in light the critique opinions that experts has about this sudden step, which has hampered economic conditions of many sectors and normal people of India. Keywords: Demonetization, Real Estate, Banking, Construction, India, Economy
Introduction
According to Oxford dictionaries “Demonetization” by definition means stripping off of a currency from normal flow i.e. a typical withdrawal of a note, coin, or precious metals from use as legal tender. It is sometimes taken as an effort to stop counterfeiting of the current banknotes.
The word demonetization comes from a French word “demonetiser”.
There are various reasons for demonetization, some of it is listed below:
• To fight the inflation.
• In order to beat the corruption.
• To eradicate the counterfeit currency from market.
• To daunt cash system
The instant effect of demonetization bound to affect the economy is thought to be probably short lived. On the other hand the long term effects is thought to be a positive one.
References
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How to cite this article?
| APA Style | Patel, M. (2019). A Critique View- Impact of Demonetization on Real Estate. Academic Journal of Economic and Finance, 1(1), 6-10. |
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