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Home >> News >> Demonetization will be One Year on November 8, Finance Ministry has Counted its 7 Major Benefits

Demonetization will be One Year on November 8, Finance Ministry has Counted its 7 Major Benefits

Posted on: 07 Nov, 2017 Tags   Demonetisation Finance Ministry Black Money

IndiaNewsonWeb: 07 Nov, 2017, Demonetization will be one year in the country on Wednesday, November 8, before the completion of one year, the Central Finance Ministry has counted seven major benefits of demonetization. It has been said from the Ministry of Finance that now 83% of the notes in the market are in circulation compared to the number of notes in the economy on November 8 last year.

The seven advantages that the Ministry of Finance has countered in this manner are like this.

1. Black Money ended
2. Fake notes out of economy
3. Terrorists and Naxals hurt on network to help financially
4. Non-Formal Economy Changed in the Formal Economy
5. Increase the tax base
6. Digital economy boosted to make the country's economy cashless
7. Increase the liability of money

It was said on behalf of the Finance Ministry that note-taking was that there was a total circulation of Rs 17.77 lakh crore in circulation across the country before November 8, but after the new notes were put in the economy, their quantity is lower than before, by August 2017 A total of 14.75 lakh currency notes have been in circulation. That is, after repaid, only 83 percent of the cash is effective in the economy.

It is worth mentioning that the Opposition, where the Opposition is celebrating the black day on November 8 while targeting the government, the government is counting on its achievement and is celebrating it as Anti Blackmoney Day on 8th November.

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