Treasury Section spokeswoman Dawn Selak mentioned in an announcement late Tuesday that the cash payments have been vital due to the “efficiency of U.S. and Intercontinental sanctions,” which isolated Iran from your Global finance method.
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In 2012, the Central Board of Direct Taxes proposed in opposition to demonetisation, stating inside of a report that "demonetisation is probably not an answer for tackling black funds or shadow economic system, which is essentially held in the shape of benami properties, bullion and jewellery.
By and enormous, initial Global reaction was positive which saw the transfer being a bold crackdown on corruption.
He also observed that it might cause the public opinion in favour of The federal government and that is led via the BJP When the opposition events, led through the INC, fall short to type the countervailing narrative.[260] Massachusetts Institute of Know-how affiliated lecturers Abhijit Banerjee and Namrata Kala also opined the identical.[196]
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Demonetisation resulted inside the relative erosion of agricultural wages and weak bargaining power of farmers for his or her deliver.[141]
From tariffs to universities, Trump’s negotiating type is frequently much less dealmaking and even more coercion
Other mentioned objectives provided increasing the tax base and raising the volume of taxpayers; reducing the volume of transactions performed by cash; cutting down the funds available to terrorists and radical groups including the Naxalite Maoists; and integrating the formal and casual economies.[58][59][sixty]
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P. Chandrasekhar and Prabhat Patnaik wrote that demonetisation was needless and unsuccessful, when it damaged the financial system and adversely influenced the lives and rights of your Indian folks.[twenty]