Was it bad or good? Was it a success or failure? The answer to these questions really depends if you’re a Pro-BJP or against. After all, throughout the whole demonetization process, the nation – including commoners, politicians, journalists, media houses, experts and economists – were spilt with different arguments.

Demonetization happened to ***** out the fake currency from the system, curb down the corruption and ***** the black money saved in and outside the country. Funding to the terrorists and Maoists was stopped. Also, the country strode towards a digitized economy and more of the population got into taxable economic grid.

These were the biggest benefits of demonetization of Rs 500 and 1000 notes—or at least that’s what we were made to believe. However, there were few downturns as well, contended with rigor by the opposing voices.

Low-income and rural population was hit the hardest by this decision. Millions of people struggled to use their own hard-earned money. Their purchasing power was dropped. So many died while standing and waiting in the bank lines. Indian stock market plunged to new low. Many weddings were called off. The aftermath was huge.

Many people argued that the execution of demonetization was poor. They said why not go after the big fishes that have crores of rupees in the Swiss bank as black money. To that, numerous economists argued that GDP growth will slow down. At large, to meet the exact goals of demonetization, many were saying that there are far better ways and methods that are less controversial and more effective.

Was this big step a success? It’s difficult to answer this, given there are no definite parameters to calculate it. The clear-cut numbers are not out yet.

The thought behind demonetization was novel. Did it reach its goals is hard to say with any un-biasness. From a neutral point of view, the arguments of both the pro and against-voices sound very legit on many fronts.