Open App

CLAT Exam > CLAT Videos > Crash Course for CLAT > Demonetization in India

Demonetization in India Video Lecture | Crash Course for CLAT

FAQs on Demonetization in India Video Lecture - Crash Course for CLAT

1. What was the primary objective of demonetization in India in 2016?

Ans. The primary objective of demonetization in India in 2016 was to combat black money, counterfeit currency, and corruption. The government aimed to promote a cashless economy and encourage digital transactions by invalidating the ₹500 and ₹1,000 notes.

2. How did demonetization impact the Indian economy?

Ans. Demonetization had a mixed impact on the Indian economy. While it aimed to increase tax compliance and reduce illicit financial activities, it also led to a temporary cash crunch, affecting small businesses and daily wage workers. The long-term effects included a shift towards digital payments and increased formalization of the economy.

3. What were the challenges faced by citizens during the demonetization process?

Ans. Citizens faced several challenges during the demonetization process, including long queues at banks and ATMs, limited access to cash, and inconvenience in daily transactions. Many people, especially those in rural areas, struggled to adapt to the sudden change and faced hardships in meeting their basic needs.

4. How did the government justify the demonetization decision?

Ans. The government justified the demonetization decision by stating that it would help in curbing black money, reducing corruption, and promoting a digital economy. Officials argued that the move would lead to better tax compliance and increased government revenue in the long run.

5. What was the public response to demonetization in India?

Ans. The public response to demonetization was mixed. While some supported the move as a necessary step towards financial reform, others criticized it for causing economic disruption and hardship. Protests and debates ensued, reflecting varying opinions on the effectiveness and implementation of the policy.

About this Video

4.72/5 Rating

Oct 04, 2025 Last updated

Related Exams

CLAT

Video Description: Demonetization in India for CLAT 2025 is part of Crash Course for CLAT preparation. The notes and questions for Demonetization in India have been prepared according to the CLAT exam syllabus. Information about Demonetization in India covers all important topics for CLAT 2025 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for Demonetization in India.

Introduction of Demonetization in India in English is available as part of our Crash Course for CLAT for CLAT & Demonetization in India in Hindi for Crash Course for CLAT course. Download more important topics related with notes, lectures and mock test series for CLAT Exam by signing up for free.

Description

Video Lecture & Questions for Demonetization in India Video Lecture | Crash Course for CLAT - CLAT full syllabus preparation | Free video for CLAT exam to prepare for Crash Course for CLAT.

Information about Demonetization in India

Here you can find the meaning of Demonetization in India defined & explained in the simplest way possible. Besides explaining types of Demonetization in India theory, EduRev gives you an ample number of questions to practice Demonetization in India tests, examples and also practice CLAT tests.

	Crash Course for CLAT 170 videos

Crash Course for CLAT

170 videos

Join Course for Free

Explore Courses for CLAT exam