Indian Demonetisation in numbers
Demonetisation success: Explained in numbers INDIA'S HIGHEST EVER DETECTION OF BLACK MONEY * Scrutiny of suspected 18 lakh accounts done
* Cash deposits worth Rs 2.89 lakh crore under investigation
* Advance data analytics tools identified 5.56 lakhs new suspect cases
* Cash deposits worth Rs 2.89 lakh crore under investigation
* Advance data analytics tools identified 5.56 lakhs new suspect cases
* 4,73,003 suspicious transactions detected
* Undisclosed income worth Rs. 29,213 crore detected and admitted.
* Black money worth Rs 16,000 crore did not return post demonetisation
* 21 per cent reduction in currency in circulation UNPRECEDENTED INCREASE IN TAX COMPLIANCE * 56 lakh new tax payers added
* Number of returns filed increase 24.7 per cent compared to 9.9 per cent in previous year
* Advance tax collections of personal income tax grow at 41.79 per cent over same period of last year
* Personal income tax under self-assessment tax grow at 34.25 per cent over same period last year. CLEANSING INDIA'S FINANCIAL SYSTEM * Transactions of more than three lakh suspected shell companies under the radar
* 2.1 lakh shell companies de-registered
* Around 450 companies delisted and 800 untraceable companies to be further delisted
* More than 400 benami transactions identified and market value of properties attached more that Rs 800 crore SLEW OF BENEFITS TO THE COUNTRY * Deposits in the banking system increased around Rs 3 lakh crore
* Additional liquidity helped reduce interest rates by 100 basis points
* Digital payments increase by 56 per cent from 71.27 crore transactions in October 2016 to 111.45 crore transaction in May, 2017
* More than one crore workers added to EPF and ESIC system post-demonetisation
* Bank accounts opened for about 50 lakh workers to get their wages credited directly in their accounts.
* Undisclosed income worth Rs. 29,213 crore detected and admitted.
* Black money worth Rs 16,000 crore did not return post demonetisation
* 21 per cent reduction in currency in circulation UNPRECEDENTED INCREASE IN TAX COMPLIANCE * 56 lakh new tax payers added
* Number of returns filed increase 24.7 per cent compared to 9.9 per cent in previous year
* Advance tax collections of personal income tax grow at 41.79 per cent over same period of last year
* Personal income tax under self-assessment tax grow at 34.25 per cent over same period last year. CLEANSING INDIA'S FINANCIAL SYSTEM * Transactions of more than three lakh suspected shell companies under the radar
* 2.1 lakh shell companies de-registered
* Around 450 companies delisted and 800 untraceable companies to be further delisted
* More than 400 benami transactions identified and market value of properties attached more that Rs 800 crore SLEW OF BENEFITS TO THE COUNTRY * Deposits in the banking system increased around Rs 3 lakh crore
* Additional liquidity helped reduce interest rates by 100 basis points
* Digital payments increase by 56 per cent from 71.27 crore transactions in October 2016 to 111.45 crore transaction in May, 2017
* More than one crore workers added to EPF and ESIC system post-demonetisation
* Bank accounts opened for about 50 lakh workers to get their wages credited directly in their accounts.
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