Did demonetisation meet its intended objectives?

Principal among these objectives was a reduction in the use of cash in the economy

Ishan Bakshi  |  New Delhi 

While there is still no clarity on how many old currency notes were deposited back into the banking system, some progress has been made on achieving the other stated objectives of demonetisation, the Economic Survey has found. Principal among these objectives was a reduction in the use of cash in the economy, increasing the use of digital modes of transaction and expanding the tax base.    On the “equilibrium” level of cash, the survey reveals that as of July, the cash holding was about Rs 3.5 lakh crore or roughly 20 per cent less than what would have ...

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Read our full coverage on Demonetisation