Business Confidence Index is a very important factor which determines a nation's present economic status. According to NCAR BCI of India was 133.3 on October 2016. But it declined after demonetization.
Although the economy tried to turned around, BCI further declined after the implementation of GST. While GST's inclusion cannot be blamed since it has long term benefit by implementing a transparent and uniform taxation system, but demonetization has got huge impacts on Indian economy. MSME's contribution to Indian GDP is about 38% and to export is 42%. Demonetization has an adverse effect on this sector which resulted current account deficit and pain in economic growth.