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Tax compliance improved after demonetisation: EAC-PM member

Economic Advisory Council to the Prime Minister (EAC-PM) member Shamika Ravi has said the tax compliance has increased after demonetisation, though in hindsight it appears that the whole process could have been handled in a better manner.

Ravi, also a senior fellow at Brookings India, further said that there is a need for more tax rationalisation to reduce the compliance burden.

“…Implementation of demonetisation was definitely questionable. Just the fact that we brought Rs 2,000 notes, that defies the logic of delegitimising of high-value currency notes,” she told agencies in an interview.

On November 8, 2016, Prime Minister Narendra Modi had announced the demonetisation of high-value currency notes.

Ravi also stressed on the need of rationalising GST tax law related to real estate sector.

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