DMPQ: What were the objectives of Demonetisation? What were the positive effects?

by

On 8th Nov, 2016 86% of the currency in circulation was declared as not legal tenders.

 

The stated objective of demonetisation was :

  • Reduction of black money
  • Achieving lower cash/ gdp ration
  • An attack on fake currency
  • To stop terror financing
  • Increasing digital transactions
  • Increasing tax net

 

Positive effects of 

Join Our Telegram Channel
target="_blank" class="youtube-subscribe-button"> Subscribe on YouTube
Demonetisation are as follows:

 

  • The number of tax fillers have increased.( Additional 9 million)
  • The transactions made amounting to Rs 3 lakh crore are under Income tax deptt. Vigilance
  • Over 2 lakh shell companies have been deregistered.
  • Demonetisation has able to put a hold on unregulated Real estate sector .
  • Anonymity with the cash transactions is reduced.
  • The whole process has brought more accountability.
  • Formalisation of economy- a step toward

 

Get APPSC Mains DMPQ

Mock Questions of Group Mains Exams

Click Here

error: Content is protected !!
Exit mobile version