The November 2016 demonetisation of Rs500 and Rs1,000 notes, which accounted for about 86% of the currency in circulation by value at the time, had dealt a body blow to the country’s small and medium businesses as they struggled to sustain operations amid an acute cash crunch.
In the months that followed, over 1.5 million jobs were lost, according to the Centre for Monitoring Indian Economy (CMIE), a Mumbai-based think-tank that tracks business and economic data.
Read the full story at https://qz.com/india/1455596/indias-job-market-is-yet-to-recover-from-modis-demonetisation/
SOURCE: Quartz
