News and Press Release - Dated:- 8-11-2018 - Following is the Text of the Article written by the Union Minister of Finance and Corporate Affairs, Shri Arun Jaitley on completion of two years of Demonetisation entitled Impact of Demonitisation : Today we complete two years after demonitisation. Demonitisation is a key step in a chain of important decisions taken by the Government to formalise the economy. The Government first targeted the black money outside India. Asset holders were asked to bring this money back on payment of penal tax. Those who failed to do so are being prosecuted under the Black Money Act. Details of all accounts and assets abroad which have reached the Government, resulted in action against the violators. Technology has been used for both Direct and indirect taxes to facilitate filing of returns and expanding the tax base. Financial inclusion was another important step to ensure that even weaker sections became part of the formal economy. Jan Dhan Accounts have r

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