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Crackdown of Shell Firms: The Only Short-Term Positive Impact of Demonetization

On 8 November 2016, the Prime Minister unexpectedly scrapped Rs. 500 and Rs. 1,000 notes – accounting for 86% of cash, to what he tagged as the step to scrap-out black money and fake currency in the system. The primary aim was to retrospectively punish the tax evaders, fight counterfeiters, and stop terror financing activities. …

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