Thursday, November 23 2017

November 7, 2017

Finance Ministry : 83 per cent effective currency in circulation today

New Delhi- In a tweet Finance Ministry said, the total currency in circulation has come down to almost 15 lakh crore rupees as of 4th August from around 18 lakh crores.Only 83 per cent is the effective currency in circulation today with remonetisation. Detailing other benefits of demonetisation for the economy, said Ministry.It said, the move has also helped in expanding tax base, converting non-formal economy into a formal one and making money accountable. The Ministry added that the decision has provided a big boost to digitisation of payments, making India a less-cash economy.