Government reforms bringing desired results, note ban served purpose, says Vice President Venkaiah Naidu
Vice President Venkaiah Naidu Sunday said the reforms like GST, law on black money and IBC started by the Modi government are bringing desired results and asserted that India has got a bright future.
- Naidu also said that as more and more people are coming into the banking fold, the tax rate will come down.
- Defending the Prime Minister’s controversial note ban decision of November 2016, the Vice President said the purpose of demonetisation has been achieved as the money that was kept under pillows and hidden in bathrooms has reached the banks.
- He, however, said that how much money (recovered after demonetisation drive) is official and how much money is not official, it is for the RBI and tax department to determine.