A Study On Effects Of Demonetization On Textile Industry

Abstract

Demonetization basically deals with the act of retirement of a currency unit of its status as a legal tender. Demonetization is importance when there is a change in the country’s national currency where the old currency unit are retired and replaced by new currency unit. The term demonetization has become much more than a household name since the old ₹500 & ₹1000 notes were pulled out of circulation. The historic demonetization move by the government it seen as war on parallel economy, corruption, money laundering and to stop financing aid enjoyed by the terrorists. This paper conceptual analysis discussing the effects of demonetization on textile industry through the information available from the secondary sources. The paper tries to present few suggestive measures in order to face the effects of demonetization on textile industry sector. Demonetization is a step taken by the government in order has transparency among the business activities and also a step towards good governance.