Do you live in Bengal? That's one of the few states affected by the demonetization because the state govt is not cooperating with Modi. The actual move was RBI's brainchild, not Modi's.
Otoh, other opposition controlled states like Karnataka are doing well because the state govts are working with the centre.
Let's also not forget that a pretty large chunk of the Bengal economy was running on fake currency and other illicit businesses. So the huge loss of jobs in the region was expected, obviously planned.
As it happens, I live in a state which is second only to Kerala in shifting over to digitised transactions. Not in Bengal, which is in such deep corruption that emerging seems impossible. The huge loss of jobs had nothing to do with the fake currency or other illicit businesses that you have mentioned, btw. These facile assumptions are not helpful in any way.