Question

The government of India made an announcement regarding Demonetization of the Indian economy on November 8, 2016 with profound implications for it. The process which put restrictions on convertibility of domestic money and bank deposits was meant to create a less-cash economy. One argument against the cash-lite economy is that:

Options

• Internet connectivity is a prerequisite

• More people will be introduced into the formal economy

• Financial saving will increase

• Tax evasion will be reduced

Answer 1

Internet connectivity is a prerequisite