Four Years of Demonetisation: Finance Minister Nirmala Sitharaman lists down the merits of note ban
New Delhi | Jagran Business Desk: On the fourth anniversary of demonetisation, Union Finance Minister Nirmala Sitharaman called the Modi government's note-ban as an unprecedented attack on Black Money that led top better tax compliance. In a series of tweet, the union finance minister listed down the positives of the Modi govt move.
"To fulfill its promise of freeing India from corruption, the Modi govt implemented Demonetisation 4 years ago on this day, today. The move that was an unprecedented attack on Black Money also led to better tax compliance and a major push to digital economy. #DeMolishingCorruption, the union minister tweet
To fulfill its promise of freeing India from corruption, the Modi govt implemented Demonetisation 4 years ago on this day, today. The move that was an unprecedented attack on Black Money also led to better tax compliance and a major push to digital economy. #DeMolishingCorruption— NSitharamanOffice (@nsitharamanoffc) November 8, 2020
She further noted that the note-ban helped in bringing transparency in the system and expansion of tax base
Meanwhile, the Congress on Saturday announced that it will observe the fourth anniversary of demonetisation on Sunday as "Vikshwasghaat Diwas" (Betrayal Day). AICC general secretary KC Venugopal said state Congress units would hold press conferences in all state headquarters "to highlight the suffering of people" due to the note-ban decision.
On November 8, 2016, Prime minister Narendra Modi, a televised address to the nation, announced the decision to ban all currency notes of higher denomination of Rs 500 and Rs 1,000 from midnight, attracting severe criticism from the Opposition, who said the move pulled down the country’s economy.
Posted By: Rakesh Kumar Jha