Indian economy has ?5 lakh crore less cash after note ban
According to an internal report on the benefits of demonetisation prepared by government officials, the economy now has ?5 lakh crore lesser cash than it would have had if demonetisation hadn't happened. This means that the amount of cash stashed away by citizens has come down, which is advantageous since hoarding cash delivers no value to the country's economic growth.
Thanks to demonetisation the Indian economy is running with Rs 5 lakh crores less than the amount of cash that would have been present in the economy had demonetisation not happened. This is one of the key findings of a high level internal report on the benefits of demonetisation which has been prepared by top government officials. Mail Today has exclusively been able to access this report which has been prepared as part of the internal assessments carried out to mark the third anniversary of the Modi government.Here's a low down of some of the major advantages that demonetisation has delivered to the economy:ALSO READ | Demonetisation did not impede future black money flows, says UN reportALSO READ | Rs 45 crore in demonetised notes seized from textile shop in Chennai