With each passing day, in the light of various reports and data, the consequences of demonetization are becoming far clearer and comprehensible. The jury is still to give its verdict on the demonetization, which is certainly a watershed event in the political and economic history of our nation. However, it is not that easy to choose between the pro and anti-demonetization divide. There is little doubt about the stated objectives and intentions behind the decision of demonetization, which primarily includes checking the menace of black money, black economy, corruption, FICN, antistate activities and to enhance cashless & digital economy. The Bharatiya Janata Party (BJP) led NDA government at the Centre shall be praised for taking such a huge political risk to cleanse the economy of our nation. However, there was clear cut indication of lack of proper and adequate planning on the part of the government, which led to unintended adverse consequences like loss of employment and daily wages, deaths, suicides etc. Even after more than two years of the demonetization, it is indeed very difficult to clearly mention that it is good or bad for the Indian economy as the whole picture is still to be unfolded.