Why was demonetisation done in the country in the year 2016? The central government told this reason in the Supreme Court. Demonetisation Why was this done in the country in the year 2016 The central government told this reason

Demonetisation - India TV Hindi News

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The bundle of old notes used to look like this.

New Delhi: In the year 2016, there was a stir in the country as soon as the matter of demonetisation came to the fore. This decision taken by the Central Government had an impact on almost every citizen of the country. Even today, when people remember those times, they share their experiences. Many times the question also arose that why did the central government do this? Now the Central Government has given the answer to this matter in the Supreme Court.

The central government said that demonetisation in 2016 was a well-thought-out decision and was part of a larger strategy to tackle the menace of counterfeit notes, terror financing, black money and tax evasion. The Center on Wednesday defended its decision in the Supreme Court, saying that the decision to demonetise and demonetise Rs 500 and Rs 1,000 notes was taken after extensive consultations with the Reserve Bank of India and its decision was taken before demonetisation. All the preparations were done.

Center responds to petitions challenging demonetisation decision

The Center has said this in an affidavit filed in response to the petitions challenging the decision of demonetisation. In this, the central government said, ‘Demonetisation was part of a larger strategy and an effective measure to deal with the problems of counterfeit currency, finance for terror, black money and tax evasion. But it was not limited to only this. This was one of the important steps in the series of transformative economic policy steps.

The matter is being heard by a five-judge constitution bench and now the next hearing will be on November 24. In the affidavit, the central government said that the decision of demonetisation was taken on the special recommendation of the Central Board of Directors of the Reserve Bank and the RBI had also proposed a draft plan for its implementation. The bench is hearing 58 petitions challenging the Centre’s November 8, 2016 demonetisation decision.

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