State the impact of demonetization on interest rates, private wealth and real estate.

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Solution

Impact of demonetization:

Interest rates: Cash transactions declined, Bank deposits increased and Increase in financial savings

Private wealth: Declined since some high demonetized notes were not returned

Real estate: Decline in prices of property

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64) According to economic survey 2016-17

i) Post-Demonetization, the real estate prices have reduced, leading to affordable housing and facilitate Labour mobility across India

ii) There was reduction in currency in circulation and a surge in demand deposits post demonetization

o n h i s m o r t g a g e p a y m e n t s, r e a l e s t a t e t a x e s, a n d h o m e i n s u r a n c e, h o w m u c h d i d h e s p e n d o n h i s r e a l e s t a t e t a x e s ? (1) L a s t y e a r, t h e t o t a l a m o u n t t h a t A r t u r o s p e n t o n h i s r e a l e s t a t e t a x e s a n d h o m e i n s u r a n c e w a s

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