News > Five years of demonetization: What has changed in the Indian economy?

Five years of demonetization: What has changed in the Indian economy?

Prime Minister Narendra Modi launched the demonetization proposal five years ago in 2016, with the goal of addressing four issues: Terror financing, counterfeit currency printing, black money, and corruption.

During this time, the economy has seen various highs and lows. The rise in digital payments has been the most significant. GDP ratio has increased in lockstep with overall economic development. The overall number of counterfeit notes found dropped dramatically.