Chittoor,

05-12-2016
From

Dr.G.Bhaskar,
Professor,
Dept. of MBA,
SVCET,
Chittoor.

To

Ms.Revathy Vishwanath,
Assistant Professor,
RP Division in-charge,
Indian Council of Social Science Research,
Aruna Asaf Ali Marg,
New Delhi-110067.

Madam,

Sub: ICSSR Major Research Project -Submitted-Reg.

I am submitting herewith Major Research Project for your kind

perusal.
Kindly progress if and sanction for a grant.

Thanking You,

Yours faithfully,

(Dr.G.Bhaskar)

Enclosed:
1.Application form duly signed and stamped
2. Five copies of the Research proposal
3. Five copies of the Summary
4. Bio-data in the prescribed format.
5. Forwarding letter
6.Budget, and
7. Soft copy of the research proposal and bio-data
APPLICATION FORM
 INDIAN COUNCIL OF SOCIAL SCIENCE RESEARCH
Application for Research Projects (Major)

Name of Project
1. Director (PD)/
Dr.G.BHASKAR
Co-Directors

Present Position and

2. Institutional
Address of the Professor In Management,
organization of the Sri Venkateswara College uf Engineering and
Project Director/Co- Technology,
Directors (Autonomous) RVS Nagar, Chittoor.517127
(telephone/mobile/E-mail Andhra Pradesh
id must

be written clearly) Telephone: 08572-246339, 245044

Mobile No.:9443800040
Email :drgbhaskar@gmail.com

Professor In Management,
Mailing Address Sri Venkateswara College of Engineering and
Technology,
(Autonomous)
RVS Nagar, Chittoor.517127 Andhra Pradesh.
3 Date of Birth and Age
30-07-1965 and 51
Fema Transgend

Male le er
4 Gender
Category to which the PD
5 belongs:
(Tick one or more boxes,
as SC - ST -
applicable. Enclose
relevant
certificates,(if any)
Person with Disability -

University/Institutes where Sri Venkateswara College of Engineering and

6 the Technology
(Autonomous), RVS Nagar, Chittoor.517127
project would be located Andhra Pradesh.
Please give complete Phone no: 08572-246339, 245044
address. Fax::
 Type of Institution where
7 the Central University
project will be located and State
University
administered ICSSR Research
Institute

ICSSR Recognized research

institute

College

Public funded Research Institute

Other (please
specify)

Educational Qualification M.Com, MBA, MCA, M.Phil, Ph.D.

8 and
academic attainment of
the PD

Project Co-Directors
(Please
enclose a brief
academic CV as NIL
annexure II)

Indicate if PD has received Ongoi

9 any ng Completed
ICSSR grant previously.
Those --

Research Projects -----

scholars, who have
ongoing

Fellowships --- --
Research Projects
(Major/Minor
 and Research
Programme) as Seminar Grant -- ---
Main Project Director
need not International --
Travel ---

apply
Publication Grant -- ---
(Please tick)

--
--
10 If completed, specify Date of Completion -

----
(clearly mention the title of ----- ----
the --- -
Report submitted Yes No
Final Instalment
study) received Yes No

A Study on
Perception and
Attitude of Indian
Citizens on
Title of the project Demonetization by
11 proposal Government.

Research Project
12 Categories Major

Discipline(s) of the
13 proposed
research studies (Kindly Discipline Management: Broad area
indicate) Finance
(Refer general Guidelines
1.1)
 Estimated cost and
14 duration of the
study (Please provide
detailed Cost (In rupees) 15 Lakhs
estimate of the
budget in a
separate sheet. Please
follow the Duration (In months) 24 months
norms provided in the
guidelines)
RESEARCH
PROPOSAL
 Annexure-I

Indicative Guidelines for Preparing a Research Proposal

for a Research Project

Discipline of the project Management / Finance

Title: A Study on Perception and Attitude of Indian
Citizens on Demonetization by Government.
Aim of the Project:
The aim of the Project is to find out the impact of
Demonetization on Indian Citizens and to find out their
perceptions and attitude
Statement of the problem:

The demonetisation of Rs.500 and Rs.1000 banknotes

was a policy enacted by the Government of India on 8 November
2016. All Rs.500 and Rs.1000 banknotes of the Mahatma Gandhi
Series ceased to be legal tender in India from 9 November 2016.

The announcement was made by the Prime Minister of

India Narendra Modi in an unscheduled live televised address at
20:15 Indian Standard Time (IST) on 8 November. In the
announcement, Modi declared that use of all Rs.500 and Rs.1000
banknotes of the Mahatma Gandhi Series would be invalid from
midnight of the same day and announced the issuance of new
Rs.500 and Rs.2000 banknotes of the Mahatma Gandhi New
Series in exchange for the old banknotes. However, the banknote
denominations of Rs.100, Rs.50, Rs.20, Rs.10 and Rs.5 of
the Mahatma Gandhi Series remained legal tender and were
unaffected by the policy.

The government claimed that the demonetisation was an effort to

stop counterfeiting of the current banknotes allegedly used for
funding terrorism, as well as a crack down on black money in the
country. The move was described as an effort to
reduce corruption, the use of drugs, and smuggling. However, in
the days following the demonetisation, banks and ATMs across the
country faced severe cash shortages. The cash shortages had
detrimental effects on a number of small businesses, agriculture,
and transportation, while people seeking to exchange their notes
had lengthy waits, and several deaths were linked to the rush to
exchange cash. Also, following Modi's announcement, the BSE

SENSEX and NIFTY 50 stock indices crashed for the next two days.

The demonetisation received support from several bankers as well

as from some international commentators, although it was
criticised by members of the opposition parties, which led to
debates in both houses of parliament and triggered organised
protests against the current government in front of the parliament
and elsewhere across India and One Day Bandh was also
conducted by the Opposition parties.

The above demonetization has greater impact on general public

and their day to day life affected for exchange of money in banks
and the availability of currency is also restricted.In General the
total Public life is getting paralysed.

In this context, the researcher proposes to conduct a research

study on Demonetization by the Central Government and its
impact on General public to understand their perceptions and
attitudes on the move by the Central Government.

Overview of Literature:
International Level:
At International level few studies were conducted related to
demonetization which were dischssed below
A study conducted by Marek Dabrowski12 in the year 2016
at Soviet Union reveals the Currency crises in post-Soviet
economies since the collapse of the Soviet Union.
A study conducted by Taro Esaka13 in the year 2014 reveals
thatThis paper evaluates the treatment effect of consistent pegs
(i.e., a
policy in which countries actually adopt announced pegged
regimes)
on the occurrence of currency crises to examine whether
consistent pegs are indeed more prone to currency crises than
other regimes. Using matching estimators

In the year 2016 Vladimir et al conducted a study on

Psychological cost of Currency Transition evidenced from Euro
adotion discusses on effect of Psychological effect on Currency
Transition.
 A Study was conducted by Vivian et al., in the year 2009
about Ghana (West Africa) underwent a currency change in July
2007. This paper explores the adaptation to the New Ghana Cedi
one year post-redenomination using the theoreticalframework of
the Money Illusion Effect and the relearningrescaling hypotheses.
Study 1revealed that the old and new currencies appeared to be
valued similarly, based on the ratingsof gains and losses in the old
and new currencies. This result is consistent with the sloganof the
Ghanaian redenomination public education campaign and
suggests that peoplecan be inoculated against the Money Illusion
Effect through education. In study 2, attributesof the new currency
were rated more positively than those of the old currency,
suggesting
a preference for the New Ghana Cedi.
_
In the year 2005 Mark S. Clair conucted a study which
explores, theoretically and empirically, the potential benefits and
drawbacks ofan alternative: commodity-backed money. While
proposals for commodity-based money in the industrialized
world date back to 1934, with the seminal work by Benjamin
Graham, this work analyzes its application to the developing world
and its key commodity products

Al the above studies conducted by the various people in different

coutries does not focus on attitudes and perception of
demonetization in their country. Hence the researcher focuses on
this issue and proposes to conduct this study.
In India
J

There were instances of banknote denomonetisations by the

previous governments. In January 1946, banknotes of 1000 and
10000 rupee were withdrawn and new notes of 1000, 5000 and
10000 rupee were introduced in 1954. The Janata Party coalition
government had again demonetised banknotes of 1000, 5000 and
10000 rupee on 16 January 1978 as a means to curb counterfeit
money and black money.

In 2012, the Central Board of Direct Taxes had recommended

against demonetisation, saying in a report that "demonetisation
may not be a solution for tackling black money or economy, which
is largely held in the form of benami properties, bullion and
jewellery". According to data from income tax probes, black money
holders keep only 6% or less of their ill-gotten wealth as cash,
hence targeting this cash may not be a successful strategy.

On 28 October 2016 the total banknotes in circulation in India

was Rs.17.77 lakh crore (US$260 billion). In terms of value, the annual
report of Reserve Bank of India (RBI) of 31 March 2016 stated that
total bank notes in circulation valued to Rs.16.42 lakh
crore (US$240 billion) of which nearly 86% (around Rs.14.18 lakh
crore (US$210 billion)) was Rs.500 and Rs.1000 banknotes. In terms
of volume, the report stated that 24% (around 22.03 billion) of the
total 90266 million banknotes were in circulation.

In the past, the Bharatiya Janata Party (BJP) had opposed

demonetisation. BJP spokesperson Meenakshi Lekhii had said in
2014 that "The aam aurats and the aadmis (general population),
those who are illiterate and have no access to banking facilities,
will be the ones to be hit by such diversionary measures." The
Government of India had launched Jan Dhan Yojana for financial
inclusion of people having no banking system in August 2014. The
Government of India devised an Income Declaration Scheme (IDS),
which opened on 1 June and ended on 30 September 2016. Under
the scheme, the black money holders could come clean by
declaring the assets, paying the tax and penalty of 45% thereafter.
The scheme yielded Rs.65,250 crore from 64,275 declarations with
45% of it as the revenue to the government

Followed by this move on the decision taken regarding currency

notes.Prime Minsiter conducted the survey on the NM App.
https://t.co/TYuxNNJfIf pic.twitter.com/mWv2frGn3R

Narendra Modi (@narendramodi) November 22, 2016

95% of the public supported this movement.

The above study gives only opinion on the public but a

detailed study proposed by the researcher to study the
perceptions and attitudes of the public on this drastic move by the
Government.

Conceptual framework:
 Demonetization is the act of stripping a currency unit of its status
as legal tender. Demonetization is necessary whenever there is a
change of national currency. The old unit of currency must be
retired and replaced with a new currency unit.
Research Questions or Hypotheses:
The researcher proposes to put before following
Hyposthesis :
1. There is no signification relation between
demonetization and consumption.
2. Currency Usage and Currency availability are
independent to each other.
Research Methodology:
a) Coverage: the proposal
Universe of the study:
Universe taken for the study is entire population of India
Sampling frame:
Sample for the study chosen from residents of India living in all
states
Sampling methods:
Convenience Sampling method was taken for this study.
Sampling size:
Sampling Size will be 1000
Units of observation:
Sampling Unit will be district atleast 20 samples will be selected
from each district.
b) Data Collection:
Sources of data
Sources of data will be collected from Electoral rolls and
published reports of the Government.
Types of data,
Both Primary data and Secondary data will be collected for this
study.
Tools and techniques
Primary data will be collected through well structured
Questionnaire in the regional languages of the State.
Statistical Tools Used:
Appropriate Statistical Tools will be identified and used for this
study.
Implications:
The proposed research work if undertaken will be a guide for the
Government for implementing their policies.
References:
"Withdrawal of Legal Tender Status for Rs. 500 and Rs.1000
Notes: RBI Notice (Revised)" Reserve Bank of India. 8 November
2016. Retrieved 8 November 2016.
Bhatt, Abhinav (8 November 2016). "Watch PM Modi's Entire
Speech on Discontinuing 500, 1000 Rupee Notes". NDTV India.
Retrieved 8 November 2016.
"Demonetisation of Rs. 500 and Rs. 1000 notes: RBI
explains". The Hindu. 8 November 2016. Retrieved 10
November 2016.
"Here is what PM Modi said about the new Rs 500, Rs 2000 notes
and black money". India Today. 8 November 2016. Retrieved 9
November 2016.
"Notes out of circulation". The Times of India. 8 November 2016.
"Corruption fight". first post. 12 November 2016.
"BJP policy". The Times of India. 10 November 2016.
"India demonetisation: Chaos as ATMs run dry".Al Jazeera
Retrieved 9 November 2016.
"Demonetisation: Chaos grows, queues get longer at banks,
ATMs on weekend". 12 November 2016.
"India: Demonetisation takes its toll on the poor". Al Jazeera. 16
November 2016. Retrieved 17 November 2016.
"Demonetisation Death Toll Rises To 25 And It's Only Been 6
Days". huffingtonpost. Retrieved 15 November2016.
Currency Crises in Post-Soviet economies- a never ending
story? Marek Dabrowski., Russian Journal of Economists.
2(2016) 301-316
Are Consistent pegs more prone to currency crises?; Tarao
Esaka, Journal of International Money and Finance 44(2014)
Psychological costs of Currency Transition:Evidence from Euro
Adoption, Vladimir et al., European Journal of Political Economy,
October 2016
A Tale of two Cedis: Making sense of new currency in Ghana
Vivian et al., Journal Economic Psychology 31 (2010) 520--526

Duration of the project:

The duration of the Project will be for two years.
Personnel:
1. Research Associate - one- Qualifications : MBA
For 24 months to support all activities of the entire duration of
the Project.
2. Research Assistant: One Qualification: Any Degree with
Computer Knowledge and Knowledge of Hindi to conduct
Field Study for the period of study 24 months.
 BUDGET

Budget:

S. Rupees
No. Broad Expenditure Heads
 Full/ Part time Research Staff/ Assistant/Hiring
Charges 3,84,,000
1. Research Associate(Rs. 16000*24 Months)
2. Research Assistant (Rs. 13000*24 2,12,000
1. Months

2. Field work cost

(Travel/Logistics/Lodging/Boarding/Source 7,16,500

Materials/Software/Data Base etc.)

3. Contingency (5%) 75,000

4. Institutional Overheads (7.5%) 1,12,500

TOTAL 15, 00, 000

BIO DATA
 Annexure-II
Bio Data

(Affix Attested
Photograph)

1 Name in full : Dr.G.Bhaskar

.
2 a. Address (Permanent) : Professor in MBA, Sri Venkateswara
. College of Engineering and Technology,(Autonomous) RVS Nagar,
Chittoor.517127. Andhra Pradesh.
b. Address (Correspondence) : Sri Venkateswara College of
Engineering And Technology,(Autonomous),
RVS Nagar,
Chittoor.517127. Andhra Pradesh.
3 Phone (Office): 08572-246339, 245044
.
(Res.):0416-2262294
4 E.mail: drgbhaskar@gmail.com
.
5 Fax :
.
6 Date of Birth and Age : 30-07-1985 and 51age
.
7 Sex: Male
.
8 Nationality :Indian
.
9 Academic Qualifications (Please give in chronological order
. beginning from high school :

S.N Course/ Subject Class University/Broa Year of

o. Degree (S) /Grade d passin
g
1. B.Com Announcin 2nd Class University of 1985
g and Madras
costing
2. M.Com Advanced 1st Class University of 1990
Accountin Madras
g,
Internatio
nal trade
and
Finance
3. M.Phil Commerce 1st Class University of 1989
Madras
4. MBA Finance 2nd Class Madhuri 1996
Kamaraj
MBA Marketing 1st Class University 2013
Tamilnadu Open
University
5. Ph.D Commerce Highly University of 2002
- commend Madras
Managem ed
ent inter-
disciplinar
y

(X) Employed: Yes/No (If 'Yes', please furnish information in

chronological order in the following format):

Position
Held Institution From To Salary Drawn
Lecturer in Arts and Science
Commerce Colleges 1990 1997 Consolidate
Lecturer in New College institute of
Management Management, Chennai 1997 2000 As per Norms
Valammal College of
Associate Management and
Professor in Computer studies,
Management Chennai 2000 2001 Consolidate
Professor in Vel Tech Institution,
Management Chennai 2001 2003 Consolidate
Director Sanguthur Institution of 2003 2006 Consolidate
Management,
 Tiruchengode
Tamil Nadu College of
Engineering,
Director Koimabathur 2006 2012 Consolidate
Adhi parasakthi College
Director of Engineering, Kalavai 2012 2013 Consolidate
Sri Venkateswara
College of Engineering
Professor in and Technology,
management Chittoor 2013 Til dateConsolidate
Publications in the last five years (Please indicate title,
(XI) publisher and year
of publication):
Books
(i) Authored:1
(ii) Co-authored:1
(iii) Edited: 1
a. Research Papers in peer-reviewed journals only (Give title,
journal, year)

7 Papers Published
(XII) Details of the Projects:

a. Completed: Yes/No (If 'Yes', please provide details in the format

below): NO

b. Whether any proposal submitted for a Project to other agencies for

consideration: Yes /No. (If Yes, please indicate the details in the
following format): Yes

Title of the Project/Duration/Budget/Submitted to the

S.No Agency with date/Present

A Study on Psychological attributes of Social

Networking use amoung the college students of
Andhra Pradesh : 3 Years/ 15 Lakhs/ DST-CSRI/ on
1. going

(XIII) Please indicate the name and address of the

 institution where the scholar wants to affiliate this
project and the reasons thereof:
Department of Management Studies,
Sri Venkateswara College of Engineering and
Technology(Autonomous), Chittoor. Andhra Pradesh

(XIV) Any other relevant information in support of the proposal:

1. Worked as a Research Associate in a Project sanctionrd by Ministry
of HRD Department.
2. Received Sanction from DST under NIMAT Project to conduct 3 EAC
and 1 FDP.
BUDGET
 Annexure III
COST ESTIMATION

The cost of the project is to be estimated in terms of

total months of work and the facilities needed. Please
calculate it under the following headings:

S. Rupees
No. Broad Expenditure Heads

Full/ Part time Research Staff/ Assistant/Hiring

Charges 3,84,,000
3. Research Associate(Rs. 16000*24 Months)
4. Research Assistant (Rs. 13000*24 2,12,000
1. Months

2. Field work cost

(Travel/Logistics/Lodging/Boarding/Source 7,16,500

Materials/Software/Data Base etc.)

3. Contingency (5%) 75,000

4. Institutional Overheads (7.5%) 1,12,500

TOTAL 15, 00, 000

Note:
Period of appointment of full time/part time staff to be
decided as per upper limit of financial allocation under
each head.
Payment of full-time/part time research staff and other
expenditure will be made as per rates approved by the
ICSSR for different posts/heads as under:

# Research Associate Rs. 16,000/-pm

# Research Assistant Rs. 13,000/-
Research/Field Not exceeding Rs. 1,000/-
# Investigator per day
# The Project Director shall not be entitled to any pay,
honorarium or allowance (other than TA/DA) from the Project
fund.

FORWARDING LETTER
 SUMMARY

Annexure V
ICSSR Format for Short Summary

Title of the study:

A Study on Perception and Attitude of
Indian Citizens on Demonetization by Government

Name & Address of the Project Directors: Dr.G.Bhaskar,

Professor in Management, Sri Venkateswara College of Engineering
and Technology,(Autonomou), Chittoor. 517127.Andhra Pradesh.
Institution of Affiliations (FULL Address): Sri Venkateswara
College of Engineering and Technology, (Autonomous),RVS Nagar
Chittoor. 517127.Andhra Pradesh.
Duration of the Study: 24 Months
Budget Proposed by the Scholars: Rs. 15 Lakhs
Specific Objectives of the Study:
1. To find out the Perception of Indian Citizens on demonetization
effect in India
2. To find out their attitude towars Demonetization effect in India
Central idea of the Problem:
The aim of the Project is to find out the
impact of Demonetization on Indian
Citizens and to find out their
perceptions and attitude
Methodology (in Brief)
a) Coverage: the proposal
Universe of the study:
Universe taken for the study is entire
population of India
Sampling frame:
Sample for the study chosen from
residents of India living in all states
Sampling methods:
Convenience Sampling method was taken
for this study.

Sampling size:
Sampling Size will be 1000
Units of observation:
Sampling Unit will be district atleast 20
samples will be selected from each district.
b) Data Collection:
Sources of data
Sources of data will be collected from
Electoral rolls and published reports of the
Government.
Types of data,
Both Primary data and Secondary data
will be collected for this study.
Tools and techniques
Primary data will be collected through well
structured Questionnaire in the regional
languages of the State.
Statistical Tools Used:
Based on data collected an appropriate
Statistical Tools will be used for this study.