Different economists / rating agencies are predicting different impact. The cash crunch arising out of demonetization is expected to paralyze economic activity in the short-term, and the 2017-18 GDP growth is likely to take a hit.
GDP growth is likely to decelerate. However, with the overwhelming support of Citizens and small and non formal economic sectors willing to fast change their business ways to cash less and billing patterns. The growth will strike back in one year time. The implementation of GST will also change the business ways to positive mode.
The demonetization process is irreversible now and and all business men needs to mend their ways and adopt digital technology, cash less economy and reaching out to other markets strategy. The time has come to collaboratively work to distribute the recurring costs of new technology and economic behaviors adoption.
Kamtech is ready to support such small businesses and associations to fast adopt the business changes.