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Demonetisation Was Greatly Beneficial, Says PM Modi On 4th Anniversary

Demonetisation Was Greatly Beneficial, Says PM Modi On 4th Anniversary

Kohima, November 08 (NEx): It was on this day, 8th November, four years ago in 2016, the Prime Minister of India, Narendra Modi announced scrapping of Rs 1000 and Rs 500 notes – accounting for 86 per cent of all currency notes in circulation in value – with immediate effect.

On the occasion of the 4th anniversary of demonetisation the Prime Minister, Narendra Modi in a tweet on Sunday, November 08, 2020 said, “Demonetisation has helped reduce black money, increase tax compliance and formalization and given a boost to transparency.

The Prime Minister also said “These outcomes have been greatly beneficial towards national progress.”