Goods and Service Tax is on its way for the upcoming year and parliament is trying all measures to figure out its pros and cons as the taxation plays an important role in maneuvering various policies. But in the biggest turnover of the decade, the Indian government also took a very bold step in front of this implication. The topic is indicating the ‘Currency Ban’ which is proving a page turner of the Indian economy.
As speculated, GST was meant to force the trading community to pay the taxes and not to evade it, while saving tax in a reformative way was quite essentially good but in the mean time, currency ban showed that government is not intending any pun over the issue of tax evasion activities and black money hoarding.
Read Also: Demonetisation not Good Economics While GST is: Former Indian World Bank Chief Economist
A national survey being conducted after an overwhelming response of demonetization was been circulating all over the country. A poll supported this fact and has released that, “As many as 82 percent Indians favor the government’s decision to demonetize Rs 500 and Rs 1,000 denomination currency notes.”
One can rely on the fact above mentioned as the survey was conducted by India’s rank topping app ‘Inshort’, while another helping hand was IPSOS which is a globally renowned research specializing firm. The survey was conducted in the name of ‘Pulse of the Nation’ on the very same day after the currency ban hit the nation with its unexpected twists and turns.
The survey included 2,69,393 app users which attracted five lakh response overall and was conducted in the top metro cities of India namely New Delhi, Mumbai, Bengaluru, Lucknow, Jaipur, Pune. The surveyed public was below 35 years of age which also clearly shows that there is a long-term positive effect of the ban as the young generation will be leading the nation and whatever they feel right they have admitted the same.