International Journal of Social Science & Economic Research
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Title:
White is The New Black: The Demonetization Effect

Authors:
Ayan Banerjee, Priyanka Oza, Sana Mazumdar and Anushka Bhansali

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Ayan Banerjee, Priyanka Oza, Sana Mazumdar and Anushka Bhansali
Jai Hind College, Mumbai

MLA 8
Banerjee, Ayan, et al. "White is The New Black: The Demonetization Effect." Int. j. of Social Science and Economic Research, vol. 9, no. 9, Sept. 2024, pp. 3296-3343, doi.org/10.46609/IJSSER.2024.v09i09.011. Accessed Sept. 2024.
APA 6
Banerjee, A., Oza, P., Mazumdar, S., & Bhansali, A. (2024, September). White is The New Black: The Demonetization Effect. Int. j. of Social Science and Economic Research, 9(9), 3296-3343. Retrieved from https://doi.org/10.46609/IJSSER.2024.v09i09.011
Chicago
Loc, Banerjee, Ayan, Priyanka Oza, Sana Mazumdar, and Anushka Bhansali. "White is The New Black: The Demonetization Effect." Int. j. of Social Science and Economic Research 9, no. 9 (September 2024), 3296-3343. Accessed September, 2024. https://doi.org/10.46609/IJSSER.2024.v09i09.011.

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ABSTRACT:
First, this paper attempts to analyze the effectiveness of demonetization in eradicating the amount of black money or the size of the black economy in the Indian context, with the use of four main indicators. Respective data, from before and after the event, is compared to understand its true impact. Then, this paper proposes its own solutions to eradicate black money in the economy; by way of incorporating ‘nudging’ to increase tax compliance, and increasing transparency in the government through the mechanism of e- governance.

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