A Historic Move of 2016

A Historic Move and A Slew of Benefits To The Country : Demonetization

Demonetization was a historic decision taken on 8th November 2016. High denomination currency notes of Rs. 500 and Rs. 1000 were ceased to be legal tender. This led to a slew of benefits to the country. It was this decision of the government that led to India’s highest ever detection of black money, increase in tax compliance and cleansing of the financial system.

The following graphics showcase how demonetization led to a series of benefits for the country:

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