Note ban success hinges on higher tax compliance: CEA Arvind Subramanian
Tuesday, March 14, 2017, 4:26 PM
Chief Economic Advisor Arvind Subramanian has said demonetisation can be called successful only if the amount of currency in circulation comes down over time and there is an increase in tax compliance. "Before demonetisation, the cash to GDP ratio was something like 12%. Going forward, that should come down if demonetization is to be deemed successful,"