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Demonetisation and Social Change

(Vol. 15, No. 2, April-June, 2017) ISSN 0973 – 8444
India’s Economy Post Demonetisation: A Preliminary Assessment
Amit K. Giri1
1Assistant Professor, Department of Finance, Xavier Institute of Social Service (XISS), Dr. Camil Bulcke Path, Ranchi - 834001, Jharkhand. Email:;
Abstract: The main objective of this article is to assess the change in growth rate and employment conditions in the economy of India post demonetisation through empirical evidences. Using official data and employing difference-in-difference approach, the paper finds slowdown in growth rate in the major sectors of the economy in the post demonetisation period as compared to the pre demonetisation period. The construction sector has been found to be worst hit. As far as the employment scenario is concerned, the paper finds no impact of demonetisation on workers employed on regular and contract basis but finds worsening of job opportunities for the casually employed workers post demonetisation.
Keywords: Demonetisation, Gross Value Added, Employment, Black Economy, India.
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