Demonetization effect is estimated at Rs.128,400 crores for the 50 day period, effecting the whole economy but with devastating effects on informal economy.
- Direct expenses to RBI & GOI Rs.16,800 crores.
- Banks to bear an estimated cost of Rs.35,100 crores.
- Cost of queues to exchange currency is estimated at Rs.15,000 crores.
- Enterprise* losses are estimated at about Rs.61,500 crores. (includes all businesses including farmers, input suppliers, transporters, wholesalers, retailers, manufacturers, stockists and distributors, malls and other retail outlets, restaurants, entertainment and other enterprises)
- Transaction cost of demonetization is estimated at Rs.128,400 crores.
Why should people lose their money for no fault of theirs for government's authoritarian acts without following even pretense of process of law?