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Demonetisation helped reduce black money, increase tax compliance: PM Modi

Prime MInister Narendra Modi said that “Demonetisation has helped reduce black money, increase tax compliance and formalization and given a boost to transparency. These outcomes have been greatly beneficial towards national progress.” 

Bharatiya Janta Party said that demonitisation was primarily aimed at achieving three goals; these are cleaning the economy and reducing the corruption, formalising the economy and enhancing tax compliance, thereby generating revenues for govt.

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