1) The strongest reason for pushing it was as an attack on "Black Money" (undeclared wealth outside the taxation net). More than 90 -95% of the demonetized currency is back in the coffers. This magical "back money" is nowhere to be found.
2) The growth rate fell by at least 1% - whatever the other impact this by itself means a massive loss.
3) A large number of "cash only" small-scale businesses have been badly hit - these people are not internet savvy and do not have a voice but they do exist
4) The so called "leap" to a digital economy is mostly a temporary phenomena - just wait till the new currency is available in sufficient quantities
So on balance - all the pain and suffering of the people will NOT bear the reward most of them think it would.
Edit: Source for #1 http://timesofindia.indiatimes.com/india/90-of-scrapped-note... Note that the actual number will be higher as newer estimates are released.