FM Arun Jaitley explains the three distinct benefits of Demonetisation

New Delhi: Finance Minister Arun Jaitley, on Thursday, described demonetisation as a major step taken towards 'Operation Clean Money' by the Centre which has major economic benefits.

While addressing media on completion of three years of the Bharatiya Janata Party-led National Democratic Alliance, the Finance Minister also explained the benefits of the note ban.

Aimed at removing the parallel or shadow economy, the demonetisation drive taken up by the government in November 2016 had three distinct benefits, Jaitley said.

Also Read: Our defence preparedness best deterrent: Arun Jaitley

Here are the benefits as stated by the Finance Minister:

• There is greater movement towards digitization.
• Tax payers' base has increased
• A message has gone loud and clear that it is no longer safe to deal in cash.