Government’s bold move on the ban of old 500 and 1000 rupees to fight with black money and terrorism has been appreciated by the economist and the entire nation.

It was a very important step towards improving tax compliance and broadening of the formal economy.

There are big queues outside every bank in the country to exchange the demonetized 500 and 1000 rupees note.

Though it has affected the lives of millions of Indians in the short term the broader picture seems very bright.

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