Index : 1,507 | 1Yr : +3.05% | 1Mo : -8.32%
Category : Current Trends
Min Investment : 16,996
After the demonetization of Rs.500 & Rs.1000 notes, it is clear that the Government of India & the RBI are determined to eradicate the parallel economy which is fuelled by black money. The move came on 8th November and since then there have been several statements by the authorities that made one thing obvious: In the future, India is going to become a cashless society. The government has initiated / implemented several schemes to ensure that these monetary reforms such as demonetization become permanent. Some of them are: Introduction of Aadhar Card, Jan Dhan Yojana, Suraksha Bhima Yojana, Direct Benefit transfer of subsidies etc.
A cashless economy demands a higher degree of honesty among its tax paying citizens. Hence, the Ministry of Finance (MoS) hinted at a reduction in taxes that may soon follow starting in the Union Budget 2017.
Invest in companies which are best positioned to benefit from the demonetization and expected to capitalize on the cashless future.