Abstract
In the present era, issue of BLACK MONEY has come into forefront of the society with active participation of our youth and parliament. At the stroke of the hour on midnight of 9th November 2016, India lost 86% of its monetary base. The electronic and social media has been praising Prime Minister’s masterstroke by which he has reportedly destroyed the base of corruption in India. In this single move, the Government has attempted to tackle all the three
issues affecting the economy i.e. a parallel economy, counterfeit currency in circulation and terror financing. Demonetization has brought a sense of justice among honest taxpayers and this would be further strengthened if the money recovered is used by the government efficiently and in a leak-proof manner for infrastructure development and social schemes.
Keywords: Black Money, Corruption, Demonetization Effect, Present Status, Future Challenges, and their effects.
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