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Demonetisation, one of the top economic reforms in India’s history: Ratan Tata

Rajesh Kurup Mumbai | Updated on January 15, 2018 Published on November 26, 2016

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In the long run, this would facilitate transition to cashless economy

Tata Sons Chairman Ratan Tata in a new tweet that the government’s demonetisation programme is amongst the three most important economic reforms in India’s history.

“Demonetisation is amongst the three most important economic reforms in India’s history, along with delicensing and GST. The prime minister’s recent focus on mobile and digital payments will also facilitate the transition from a cash driven economy to cashless economy, which in the long term, will enormously benefit the poor and the underprivileged,” Tata’s Saturday tweet said.

The parallel black money in India has fuelled tax evasion, money laundering and corruption. The Prime Minister has displayed enormous courage in waging a war on the black market economy of the country through the implementation of major demonetization programme, Tata’s tweet on Saturday said.

The government’s firm resolve to fight and eliminate black money needs the support and co-operation of all like-minded citizens of India who would like to see a more equitable distribution of the nation’s resources in a new India of tomorrow, based on merit and equal opportunity, it added.

Earlier on Tuesday, Ratan Tata hailed the government’s move to demonetise high-value currency notes as a bold act as it will eliminate black money and corruption.

“It deserves our support,” he had said in a tweet.

rajesh.kurup@thehindu.co.in

Published on November 26, 2016
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