A Parliamentary panel report in April 2017 stated that rural homes and "trustworthy taxpayers" had been the worst hit by demonetisation.[228] It mentioned that it had been not only the very poor that endured, though the producing sector was impacted much too.[229] In accordance with the panel, demonetisation established sizeable disruption all over economic system, because it was performed without the need of prior review or investigation.

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The Indian federal government experienced demonetised banknotes on two prior events—as soon as in 1946 and at the time in 1978—As well as in equally situations, the target was to beat tax evasion via "black income" held outdoors the official economic method.

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By and large, Preliminary Worldwide response was optimistic which saw the move as a Daring crackdown on corruption.

A jewellery retailer within a shopping mall having a discover "We accept ₹five hundred and ₹one,000 notes", even after they have been not valid banknotes. There have been studies of individuals circumventing the restrictions imposed on Trade transactions by conducting a number of transactions at distinct bank branches, and by sending employed folks, workers, and followers in teams to exchange significant amounts of demonetised banknotes at banks.

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At first next demonetization, functions and attacks because of the Maoist Naxalite radical groups diminished, which was attributed to lack of finance pursuing demonetisation.

The federal government mentioned that the most crucial objective on the exercise was curbing black funds, which involved earnings which had not been documented and therefore was untaxed; dollars attained via corruption, illegal items product sales and illegal pursuits for instance human trafficking; and copyright forex.

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[254] The Harvard Small business Evaluation identified as it "a case research in lousy plan and also poorer execution".[258] The Repeated improve within the narrative on goals on the demonetisation to its seen effect on the poorest of your poor produced other critiques calling The federal government's narrative as spins in view from the "pointless suffering on India's poorest."[259]

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The announcement of demonetisation was accompanied by extended cash shortages from the months that followed, which designed major disruption through the economy.

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