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Indeed, Demonetization, inspite of some of the drawbacks in the way it was implemented has been successful in making more people into cashless economy. Many people, especially older ones used debit cards for the first time.
I have used one of the Mobile Wallets to pay to local vegetable groceries, Autowallahs, book stationers etc, and the best advantage of being cashless is that one does not have to worry about change of Rs.1, 5, 10 etc.
Moreover, one can directly get amount transfered to their bank accounts. RBI has to print lesser notes thus checking inflation, and Government’s debt too reduces.
Still, a lot of people have switched back to cash for smaller transactions, and this has to be somehow addressed.
But this is not bad as such, because even in Western countries, especially UK, US etc, smaller transcations are in cash.
Yet, it is good if larger transactions are done electronically to check misuse of funds, especially in Government sponsored schemes, Defence and Infrastructure payments, as you have mentioned.
Black money too gets reduced.Overall, a big plus for India, but Government needs to be vigilant, because those used to big amounts of black money will try to defame Government and mislead people in different ways.
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