A cross-sectional study on the assessment of impact of demonetization of Rs.500 and Rs.1000 currency notes on the socio-economic and health status of the people residing in an urban area of Kanchipuram district

Authors

  • S. Hariharan Department of Community Medicine, Sree Balaji Medical College and Hospital, Bharath University, Chennai, Tamil Nadu, India
  • J. Krishnakumar Department of Community Medicine, Sree Balaji Medical College and Hospital, Bharath University, Chennai, Tamil Nadu, India
  • T. Stephen Department of Community Medicine, Sree Balaji Medical College and Hospital, Bharath University, Chennai, Tamil Nadu, India

DOI:

https://doi.org/10.18203/2394-6040.ijcmph20181704

Keywords:

Demonetization, Cash, Deposition, Economy

Abstract

Background: The Government of India took the historic move of demonetising Rs.500 and Rs.1000 currency notes of Mahatma Gandhi Series from the midnight of 8th November 2016, following which these high value currency notes ceased to be a legal tender.It was a radical move by the Government which had an impact on the socio-economic and health status of the people. The study was conducted to assess the impact of demonetization move on the socio-economic and health status of the people residing in Anakaputhur area of Kanchipuram district.

Methods: A cross-sectional, questionnaire based study was conducted on people residing at Anakaputhur area of Kanchipuram district. A sample size of 272 people was obtained using convenient sampling method. The study was conducted from 1.3.2017 to 1.4.2017. Data entry was done in Microsoft Excel and analysis was carried out in SPSS 22 software. Descriptive analysis was done.

Results: Of the total study population of 272 people, 157 were females and 115 were males. Majority of the participants (58.1%) had used only cash for making their payments. Majority of participants (60%) responded that they were satisfied with the demonetization move. Majority of participants (67%) responded that the demonetization move would lead to overall economic development of our country.

Conclusions: Even though the Government’s intention behind demonetization was good, the process by which the move was implemented could have been better. Government could have taken proper anticipatory measures to prevent cash crunch.

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Author Biography

S. Hariharan, Department of Community Medicine, Sree Balaji Medical College and Hospital, Bharath University, Chennai, Tamil Nadu, India

MD Post graduate , Department of Community Medicine .

References

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Samuel S, Alex M. Effects of Demonetization on Financial Inclusion in India. Intermedia. Available at http://finclusion.org/ uploads/file/Effects%20of %20Demonetization%20on%20Financial%20Inclusion%20in%20India.pdf. Accessed on 17 February 2018.

PHD Research Bureau. Impact of Demonetization on Economy, Businesses and People. Available at http://phdcci.in/image/data/Research%20Bureau-2014/Economic%20Developments/paper/Study%20on%20Impact.pdf. Accessed on 9 February 2018.

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Published

2018-04-24

How to Cite

Hariharan, S., Krishnakumar, J., & Stephen, T. (2018). A cross-sectional study on the assessment of impact of demonetization of Rs.500 and Rs.1000 currency notes on the socio-economic and health status of the people residing in an urban area of Kanchipuram district. International Journal Of Community Medicine And Public Health, 5(5), 1951–1955. https://doi.org/10.18203/2394-6040.ijcmph20181704

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Original Research Articles