By Hemantkumar Shah* The decision to demonetize Rs 500 and Rs 1,000 notes from currency is a macho decision by the government which will have no positive impact on Indian economy. (1) In 1978, a similar decision was taken by the Morarji Desai government. But the black money volume increased. It did not reduce. A same result will be there this time, too. (2) In 1978, hardly 10% of people were using these notes. At present, almost all people use these notes. So they will be harassed for exchange. (3) Poor people will be exploited, as they mostly don't have bank accounts. Private people will get undue benefits from exchanges. (4) Recently more than Rs 60,000 crore black money was unearthed under the income tax (IT) scheme. No positive impact has been seen in the short run. Nothing will happen in the long run. (5) As a result of this decision, perhaps another Rs. 50,000 crore will be destroyed by people. It will hardly have any positive impact on income, employment, prices and investme