NEW DELHI: On the fourth anniversary of demonetisation, Prime Minister Narendra Modi on Sunday said it has helped reduce black money, increase tax compliance and formalisation, and given a boost to transparency. On November 8, 2016, Prime Minister Modi announced the decision to ban all currency notes of higher denomination of ₹500 and ₹1,000 from midnight.
Taking to Twitter, Prime Minister Modi listed the beneficial outcomes of demonetisation.
“Demonetisation has helped reduce black money, increase tax compliance and formalisation and given a boost to transparency,” he tweeted.
“These outcomes have been greatly beneficial towards national progress,” Modi said on Twitter using the hashtag ‘DeMolishingCorruption’
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