Thursday, 29 December 2016

Demonetisation to improve GDP by 2%, hike tax base

Demonetisation is a radical reform that will change the way of life, believes Minister of State for Finance Arjun Ram Meghwal. The move will increase the tax base and improve Gross Domestic Product (GDP) by 2 percent if completed. Once the entire process of cash ban is completed, consumption and investments will pick-up rapidly. The cash collected at the end will be disclosed by the central bank at right time. Any dividend from the Reserve Bank of India will come post demonetisation. 

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