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 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
Final Destination for Punjab PSC Notes and Tests, Exclusive coverage of PPSC Prelims and Mains Syllabus, Dedicated Staff and guidence for Punjab PSC PPSC Notes brings Prelims and Mains programs for PPSC Prelims and PPSC Mains Exam preparation. Various Programs initiated by PPSC Notes are as follows:-
- PPSC Mains Tests and Notes Program
- PPSC Prelims Exam 2024- Test Series and Notes Program
- PPSC Prelims and Mains Tests Series and Notes Program
- PPSC Detailed Complete Prelims Notes