Demonetisation helped reduce black cash, increased tax compliance, gave boost to transparency, says Modi
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Taking to Twitter, Prime Minister Modi listed the helpful outcomes of demonetisation.
On the fourth anniversary of demonetisation, Prime Minister Narendra Modi on Sunday mentioned it has helped reduce black cash, enhance tax compliance and formalisation, and given a boost to transparency. On November 8, 2016, Prime Minister Modi introduced the choice to ban all foreign money notes of upper denomination of ₹500 and ₹1,000 from midnight.
Taking to Twitter, Prime Minister Modi listed the helpful outcomes of demonetisation.
“Demonetisation has helped reduce black money, increase tax compliance and formalisation and given a boost to transparency,” he tweeted.
“These outcomes have been greatly beneficial towards national progress,” Mr. Modi mentioned on Twitter utilizing the hashtag ‘DeMolishingCorruption’
Along along with his tweet, the Prime Minister additionally shared a graphic on how demonetisation has ensured higher tax compliance, improved tax and GDP ratio, made India a lesser money based mostly economic system and gave a boost to nationwide safety.
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