To counter increasing evidence that demonetisation may have dented the Indian economy, the government has put out a series of statistics to show that the contentious move to scrap Rs. 500 and Rs. 1,000 banknotes last November has improved economic health, specifically by expanding India’s tax base. In his Independence Day speech, Prime Minister Narendra Modi said that 56 lakh people filed Personal Income Tax Returns after demonetisation, an increase […]