This post is a reproduction of the news release from the Prime Minister’s Office of India.
Demonetisation Winning The Battle Against Corruption, Taking India Towards a Cleaner Economy
With a formidable push to cleanse India’s financial system, demonetisation led to highest ever unearthing of black money.
Here are some interesting facts on the multi-dimensional benefits of DEMONETISATION:
- 73 lakh suspicious cases identified that do not match the tax profile.
- Deposits worth Rs 3.68 lakh crore under suspicion.
- 24 lakh shell companies faced the axe.
- Stone-pelting incidents in Kashmir came down by 75% from the previous year.
Reform, Perform and Transform is our Mantra: PM Modi
In an event on India’s Business Reforms and Ease Of Doing Business which had World Bank CEO Kristalina Georgieva in attendance, Prime Minister Narendra Modi expressed confidence on the nation continuing to perform progressively well on ‘Ease of Doing Business’ due to the slew of reforms initiated in the last three years.
Media Must Make an Extra Effort to Maintain Credibility: PM Modi
Speaking during the 75th anniversary of Tamil daily Dina Thanthi in Chennai, the Prime Minister highlighted the role of the vernacular press in the dissemination of critical information on the ground. He also elucidated the importance of factual reporting by the media.
PM Interacts with Global CEOs of the Food Processing Sector
During a discussion, CEOs of global food processing giants hailed the vision of Prime Minister’s vision of doubling farm incomes and the progress of structural reforms and bold initiatives such as GST and the liberalization of the FDI regime, unleashed under his leadership. PM also addressed the first World Food India, a mega international event to showcase India’s capabilities in food processing.
- How Modi’s crackdown on shell companies has waged war on black money post demonetisation
- Demonetisation was a defining moment in India’s journey to a less-cash economy
- By unearthing black money, demonetisation has widened the government’s revenue base
- Digital transactions surge 80.85% after demonetization
- Big victory in fight against J&K terror funding; NIA seizes Rs 36.34 cr of demonetised notes on eve of note ban anniversary
- Income tax dept to issue 100,000 notices for huge deposits after note ban
- Five ways in which demonetisation made India a better habitat for formal job creation
- Tighter scrutiny after demonetisation led to rise in PAN registrations, ITR filings
1. Text in Blue points to additional data on the topic.