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

On 8^th 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 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

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