Thread by @MukeshPathakji

#DeMolishingCorruption
The unprecedented step of demonetisation by Modi Govt is breaking the grip of corruption and black money. Between 1 April 2017 and 30 September 2020 undisclosed assets worth ₹3,950 crore was seized.

#DeMolishingCorruption
Demonetisation has unearthed Benami Assets and shell companies. 3.82 lakh shell companies have been detected and de-registered till April 2020, while 4.52 lakh directors have been disqualified.

#DeMolishingCorruption
Unified Payments Interface has reaped the benefit of increased digital transactions after demonetisation. Monthly transactions via UPI crossed 2 billion mark in October 2020.

#DeMolishingCorruption
Demonetisation has unearthed significant discrepancies. During Nov 2016 to March 2017 8,239 surveys were conducted leading to detection of undisclosed income of ₹6,745 crore.

#DeMolishingCorruption
Introduction of new notes enabled better detection of fraud currency, leading to swifter action. With this, the total number of counterfeit notes detected decreased sharply post demonetisation.

#DeMolishingCorruption
Demonetisation has improved compliance and increased tax collections. Net direct tax collections for 2018-19 rose to ₹11.37 lakh crore, which is 35% higher than the collections for 2016-17.

#DeMolishingCorruption
New tax filers have increased, exhibiting vishwas in New India’s economy. The number of persons filing return increased from 5.4 crore in FY 2017-18 to 6.3 crore in FY 2018-19.

#DeMolishingCorruption
Ensuring better tax compliance

#DeMolishingCorruption
Lesser Cash based economy

#DeMolishingCorruption
Better corporate compliance after demonetisation

#DeMolishingCorruption
Hitting out on threats to National Security