Was Demonetisation a Success?

An analysis of the data reveal that demonetisation has failed to meet its stated goals except in certain areas such as encouraging more digital transactions and more formalisation of the financial system. But the exercise has failed to meet the key objectives, mainly addressing the problem of black money.

Was demonetization a success?

The data on Income tax returns filed also confirms the success of the demonetisation of the scheme. According to I-T Department data, number of income tax returns filed grew 6.5 per cent in FY 2015 to 40.4 million. It surged 14.5 per cent in FY 2016 and then jumped 20.5 per cent in FY 2017, the year of demonetisation.

Was demonetisation a success or a failure?

Was Demonetisation a success? Officially, yes. ... On black money, the government had in August 2017 said that nearly Rs 3 lakh crore that had remained out of the banking system was deposited in banks post-demonetisation. It claimed that over Rs 2 lakh crore of black money reached banks.