Vol. 8, Special Issue 4 (2023)

The present study reviews the effect of demonetisation on farmers including animal husbandry and its allied sectors. It is widely known that farming, dairy and fisheries industry is a labour intensive sector which involves cash transactions. The disruption of daily activities, loss of livelihood, disrupted supply chains, limited access to banking facilities, increased indebtedness and hindered farm investments were some of the significant challenges faced by farmers. Even though the farm and allied sector was not too receptive, the move, however, ushered the farming community from cash to cashless transaction. The study suggests that government must deliberate on the positive and negative impacts of its policies at the stage of policy drafts itself. As far as the veracity of intended objectives is concerned, contrasting opinions had the farm community divided vertically. While some supported the move describing it as a “revolutionary step”, others opposed it tooth and nail mentioning it a “failed experiment”.