9th November 2016 will be considered as a very big day in the history of Indian economics. The Prime Minister of India announced demonetization of Rs.500 and Rs.1000 bills, which left everyone baffled.
There is no doubt that this bold step will help India to become corruption-free. But, this step has come with some advantages as well as disadvantages. This announcement is definitely going to affect the Indian SMEs. The pros and cons are as follows:
There will be a lot of pain-points in the short term but overall the pros outweigh the cons for the SMEs. If India has to have a stable economic growth, then rooting out corruption is very important, which will help in attracting more business from the other countries, and thus increasing the GDP of our country.
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