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