Demonetization
Outcome of 2016 notes ban was greatly beneficial towards national progress: Narendra Modi tweets on fourth anniversary of demonetisation
New Delhi: Indian PM Narendra Modi on Sunday justified his government's move of banning old Rs. 500 and Rs. 1000 currency notes in 2016 and said it helped in reducing black money.
Modi said the outcome of the move was greatly beneficial towards national progress.
"Demonetisation has helped reduce black money, increase tax compliance and formalization and given a boost to transparency. These outcomes have been greatly beneficial towards national progress. #DeMolishingCorruption," he said.
Demonetisation has helped reduce black money, increase tax compliance and formalization and given a boost to transparency.
— Narendra Modi (@narendramodi) November 8, 2020
These outcomes have been greatly beneficial towards national progress. #DeMolishingCorruption pic.twitter.com/A8alwQj45R
Giving four hours notice, Indian PM, in his famous 8 pm address, had banned the currency notes on Nov 8, 2016 from midnight.
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