Industrialist Ratan Tata said that demonetisation will help fight black money. He said it is amongst the three most important economic reforms in India’s history, along with delicensing and GST. In a tweet, he said the government’s bold implementation of the programme needs the nation’s support.
Ratan Tata said the Prime Minister’s recent focus on mobile and digital payments will also greatly facilitate the transition from a cash-driven economy to a cashless economy, which in the long term will enormously benefit the poor and underprivileged. He added that the parallel black money economy in India has fueled tax evasion, money laundering and corruption.