Demonetization reduced black money

Opposition parties continue to cry over demonetization even on its fourth anniversary. Their dream of revalidating demonetized currency is still a dream

In fact, demonetization has helped reduce black money, increase tax compliance, and boost transparency despite its early hiccups. The present investigation carried out in Kerala by central agencies such as NIA, ED, Customs and Narcotics Department, is the consequence of demonetization. Gold smugglers and drug traffickers have to depend on transparent bank accounts and this has resulted in a flow of money from benami accounts to the drug trafficker's account in Bangaluru. This means the results of demonization have been of great benefit to national progress.

Demonetization has also helped reduce sources of funding for terrorist activities

K A Solaman.