The simple, selfish answer is no. I landed in Delhi airport on 14Nov2016 - 6 days after PM Narendra Modi unveiled his surprise plan to remove all existing ₹500 and ₹1000 notes. (₹ is the symbol for the Indian Rupee - which was trading at $1=₹62 before this announcement.) So...having just landed from South Sudan where there is no place to buy Rupees, I planned on either retrieving Rupees from the ATM or exchanging Dollars for Rupees. Unfortunately, both those options were halted by Modi's demonitization. Removal of the ₹500 and ₹1000 notes meant that 86% of India's currency value had just been eliminated without proper replacement. The ATMs had already been drained empty and the currency exchangers limited Rupee buying to only $100 - with disbursement only in ₹2000 bills.
But of course, India being a cash based economy and taxis not accepting credit cards, having a ₹2000 note when a taxi ride to the hotel was only ₹200 wasn't very helpful given that no one had ₹500 and ₹1000 notes to give change! So for me personally, demonitization was more hassle than worthwhile.
But, of course, the question must be asked to the larger goals of Modi - will demonitization decrease corruption, tax avoidance and smuggling? The answer is a 'one-time' yes. Black market transactors and hoarders of the high value currency (hawala traders, smugglers, counterfeiters, terrorists and criminals) will lose all value of cash that they currently hold.
But the actionable word in that last sentence is 'currently'. They'll just replace their currency grease with the ₹2000 notes and eventually with the new ₹500 and ₹1000 notes. But even that overestimates the impact as much of the hoarding and transacting isn't done through currency, but through illegal buying of homes (benami transactions), gold hoarding, swiss bank accounts and other cash-less money laundering.
So maybe Modi has future proposals to curb all these activities. But for the present, the answer to this post's question is 'absolutely no' for the general population. Demonitization has resulted in punishment for non-digitized Indians. Those with credit cards and digital cash (e.g. paytm) can get through this. But as 97% of Indian transactions are cash based, all those rickshaw drivers, farmers, street vendors and simple traders who aren't engaging in illegal activity, but simply subsisting on current monetary rules are screwed.