Question

What did the government want to accomplish by the demonetization?​

Answer 1

Explanation:

On November 8, 2016 India demonetized 86 percent of its currency in circulation. The stated objectives of the move were to seize undeclared income, to destroy counter- feit currency, to speed up formalization of the economy, and to increase the tax base.

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Answer 2

Objectives of Demonetisation

To help in creation of cashless economy. To formalise the informal Indian Economy. To remove counterfeit notes from the market. To help reduce anti-social activities and their finances.