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Demonetisation will lead to bigger cleaner and real GDP says Jaitley

Budget - Dated:- 1-2-2017 - GST to spur growth, competitiveness, and greater transparency in economy The Union Minister of Finance and Corporate Affairs Shri Arun Jaitley said that India has witnessed historic and impactful economic reforms and policy making in the last one year and there were two tectonic policy initiatives, namely, passage of the Constitution Amendment Bill for GST and the progress made for its implementation ; and demonetisation of high denomination bank notes. Presenting the .....

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ck money, counterfeit currency and terror funding. The Finance Minister Shri Jaitley said, that the demonetisation has strong potential to generate long-term benefits in terms of greater digitisation of the economy,increased flow of financial savings and greater formalisation of the economy, all of which would eventually lead to higher GDP growth and tax revenues. It also helps to transfer resources from the tax evaders to the Government, which can use these resources for the welfare of the poor .....

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