The Indian government had to implement the recent demonetisation as a duty to the nation in order to tackle the menace of black money and bring unaccounted money back into the banking system. This step of demonetisation was absolutely necessary 87 per cent of our economy was informal and only in cash-driven segments where money would not go to banks. Only about 50 lakh people pay tax, and all others who file returns do not pay any tax.
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The Indian government had to implement the recent demonetisation as a duty to the nation in order to tackle the menace of black money and bring unaccounted money back into the banking system. This step of demonetisation was absolutely necessary 87 per cent of our economy was informal and only in cash-driven segments where money would not go to banks. Only about 50 lakh people pay tax, and all others who file returns do not pay any tax.
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