Hello everyone I would like to ask you all what are your views regarding the demonetization which took place in India recently. It’s a bold move by the Government and can be called as the Surgical strike of the Government on Black Money (add Terrorist funding, arms smuggling and Counterfeit currency to that). Your thoughts and comments regarding same. Will this be successful for Indian economy?
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Demonetization Issue in India
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India suffers from a large informal economy, which is estimated at 25% to 40% of the nation’s GDP. Individuals working informally pay little or no taxes because their incomes are unreported. Regardless of whether the underground activities are legalor illegal. they enable tax avoidance, evasion, and fraud, which reduces government revenues.
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