Question

According to the economic survey 2016- 2017, the aim of the demonetisation action was fourfold:
1) To curb corruption.
2) To curb counterfeit notes.
3) To stop the use of low denomination notes for terrorist activities.
4) To discourage the accumulation of “black money”.

Which of the above statements is/are the correct reasons for demonetization?

• A.
  1, 2 and 4
• B.
  1, 2 and 3
• C.
  2, 3 and 4
• D.
  All of the above

Answer 1

The correct option is A

1, 2 and 4
The aim of the action was fourfold: to curb corruption; counterfeiting; the use of high denomination notes for terrorist activities; and especially the accumulation of “black money”, generated by income that has not been declared to the tax authorities.