DEMONETIZATION: A STRONG STEP TO CURB THE MENACE OF BLACK MONEY
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DOI:
https://doi.org/10.55662/Abstract
It was a masterstroke by Modi government and it’s success highly depended on it’s implementation. The decision by the Indian Government to demonetize 500 and 1000 rupee notes was a great step for curbing black money (acquired legally but tax not paid) and dirty money (acquired through illegal source) in India. The move was so unexpected that people had no time at all to remove their black money, so this became simply a waste of paper for them. I can’t imagine any better move than this to eliminate black money from the country. However, its immediate impact had adverse on the stock market and the sectors like real estate where lot of black money is used.
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