Four years since DeMo, Modi defends move
New Delhi, November 8
On the fourth anniversary of demonetisation, Prime Minister Narendra Modi on Sunday said it had helped reduce black money, increase tax compliance and formalisation, and given a boost to transparency.
Ensured transparency
Demonetisation has helped reduce black money, increase tax compliance and formalisation and given a boost to transparency. These outcomes have been greatly beneficial towards national progress.
On November 8, 2016, Prime Minister Modi announced the decision to ban Rs 500 and Rs 1,000 currency notes.
Taking to Twitter, Prime Minister Modi listed the beneficial outcomes of demonetisation. “Demonetisation has helped reduce black money, increase tax compliance and formalisation and given a boost to transparency,” he tweeted.
Capitalists benefited
Modi’s move aimed at helping a few of his crony capitalist friends and destroyed the Indian economy. How has the economy of B’desh surpassed India’s?
“These outcomes have been greatly beneficial towards national progress,” Modi tweeted using hashtag ‘DeMolishingCorruption’.
Along with his tweet, the Prime Minister also shared a graphic on how demonetisation had ensured better tax compliance, improved tax and GDP ratio. The Congress, on the other hand, said the Modi government had “destroyed” the economy. — PTI
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