iLEAD students presented talks on origins and impacts of Demonetization in India and various industrial sectors of the country. BBA Sem VI students presented their research to a packed audience at the iLEAD auditorium. Yash Beria and Vishal Somani spoke about the Rs 15.4 trillion demonetized and the negative impacts on FMCG and Real Estate sectors. Among the positive effects of this massive move by the government on November 2016, it was mentioned how demonetization stopped Hawala Transactions by Separatists and how it helped the Indian Railways. iLEAD students Saurav Bhattacharya and Soumendu Maitra spoke on how Demonetization helped unearth Rs 5 lakh crore of Black Money and at the same time how it affected people who do not have bank accounts. Among concepts one must know about Demonetization, they mentioned:
Linking of PAN and Aadhar Numbers
Introduction of “Jan Dhan Yojana”
Revised Treaty with Other Countries
Passing Of Benami Transaction Act
Income Declaration Scheme
They also spoke about GVA (Gross Value Added) and financial situations of farmers. The students mentioned how online transactions are leading all business in the country.
Students Dharna Gulati and Priyanka Agarwal spoke about the Macro Economic Impact of Demonetization and details of the Union Budget presented in early February one of the highlights being how political parties can receive funding of Rs 2000 only from one source.
Impressed by the research and talk iLEAD Chairman Pradip Chopra spoke to the students and pointed out how with all the good intentions and a promising move by the government, Demonetization has not succeeded in achieving the key goals like Stopping Black Money, Stopping Production of Counterfeit Money and how banks are affected due to low withdrawal limits and lower rate of interests, how home loans have become cheap and GDP growth has come down as well. He also spoke about the bold economic liberalization initiated in 1991 by the Indian Govt, with the goal of making the economy more market-oriented, bringing an end to the “License Raj” and expanding role of private and foreign investment which had actually changed the economic scenario of the country.