The primary objective of demonetization was to curb black money and counterfeit currency by invalidating high-value currency notes.

The ₹500 and ₹1000 currency notes were demonetized on November 8, 2016.

The immediate impact of demonetization was a sharp decline in economic growth, as businesses and consumers struggled to adjust to the sudden shortage of cash.

Demonetization had a significant impact on the informal sector, leading to a decline in employment as many small businesses and daily wage workers were unable to operate without cash.

The long-term impact of demonetization on the Indian economy is still being debated, with some arguing that it had a positive impact on the economy, while others argue that it had a negative impact. However, there is no clear consensus on the long-term impact of demonetization.

The government faced a number of challenges in implementing demonetization, including a shortage of new currency notes, long queues at banks and ATMs, and a lack of clarity on the rules and regulations.

Demonetization led to a decline in property prices, as many investors and buyers were unable to make cash transactions.

Demonetization had a negative impact on the agricultural sector, leading to a decline in agricultural output, an increase in the cost of agricultural inputs, and disruptions to the supply chain.

Demonetization had a negative impact on the tourism sector, leading to a decline in foreign tourist arrivals, a reduction in the revenue generated by the sector, and damage to the reputation of India as a tourist destination.

Demonetization had some positive impacts, including a reduction in the size of the informal sector, an increase in the tax base, and a promotion of digital transactions.

Demonetization had a number of negative impacts, including a sharp decline in economic growth, an increase in unemployment, and disruptions to the supply chain.

The experience of demonetization has taught us the importance of careful planning and implementation, the need for a comprehensive communication strategy, and the importance of providing adequate support to affected sectors.

The Indian economy faces a number of challenges in the aftermath of demonetization, including a slowdown in economic growth, an increase in unemployment, and a rise in inflation.

The government can take a number of policy measures to address the challenges faced by the Indian economy in the aftermath of demonetization, including providing financial support to affected sectors, implementing structural reforms to boost economic growth, and investing in infrastructure and social programs.