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Read the following statements carefully and choose the correct alternative from the following:
Statement 1: Demonetization was the step taken by the Government of India in order to tackle the problems of corruption, black money, terrorism and circulation of fake currency in the Indian Economy.
Statement 2: Demonetization has ensured improved tax compliance in India over the period of time.
Statement 1: Demonetization was the step taken by the Government of India in order to tackle the problems of corruption, black money, terrorism and circulation of fake currency in the Indian Economy.
Statement 2: Demonetization has ensured improved tax compliance in India over the period of time.
- a)Both the statements are true.
- b)Both the statements are false.
- c)Statement 1 is true and Statement 2 is false.
- d)Statement 2 is true and Statement 1 is false.
Correct answer is option 'A'. Can you explain this answer?
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Verified Answer
Read the following statements carefully and choose the correct alterna...
Demonetization means taking away notes or coin from its status as legal tender. Both the statements are true as demonetization is a step taken by the government to deal with the problem of corruption, black money, terrorism and circulation of fake currency in the Indian economy. Also, it has improved tax compliance over a period of time.
Most Upvoted Answer
Read the following statements carefully and choose the correct alterna...
Statement 1: Demonetization was the step taken by the Government of India in order to tackle the problems of corruption, black money, terrorism and circulation of fake currency in the Indian Economy.
Demonetization refers to the act of stripping a currency unit of its status as legal tender. In November 2016, the Government of India, under the leadership of Prime Minister Narendra Modi, announced the demonetization of ₹500 and ₹1,000 currency notes. The main objective of this move was to tackle various issues plaguing the Indian economy, including corruption, black money, terrorism, and circulation of fake currency.
Statement 2: Demonetization has ensured improved tax compliance in India over the period of time.
One of the intended outcomes of demonetization was to encourage individuals to move towards digital transactions and formal banking channels, thereby increasing tax compliance. By eliminating the high-value currency notes, the government aimed to curb black money and promote a cashless economy.
Since demonetization, the government has implemented several measures to promote digital payments and increase tax compliance. The introduction of Goods and Services Tax (GST), the implementation of the Benami Transactions (Prohibition) Amendment Act, and the mandatory linking of Aadhaar (unique identification) with various financial transactions are some of the steps taken to improve tax compliance.
Conclusion:
Both Statement 1 and Statement 2 are true. Demonetization was indeed a step taken by the Government of India to address the problems of corruption, black money, terrorism, and circulation of fake currency. Additionally, demonetization has contributed to improved tax compliance in India over time by promoting digital transactions and formal banking channels.
Demonetization refers to the act of stripping a currency unit of its status as legal tender. In November 2016, the Government of India, under the leadership of Prime Minister Narendra Modi, announced the demonetization of ₹500 and ₹1,000 currency notes. The main objective of this move was to tackle various issues plaguing the Indian economy, including corruption, black money, terrorism, and circulation of fake currency.
Statement 2: Demonetization has ensured improved tax compliance in India over the period of time.
One of the intended outcomes of demonetization was to encourage individuals to move towards digital transactions and formal banking channels, thereby increasing tax compliance. By eliminating the high-value currency notes, the government aimed to curb black money and promote a cashless economy.
Since demonetization, the government has implemented several measures to promote digital payments and increase tax compliance. The introduction of Goods and Services Tax (GST), the implementation of the Benami Transactions (Prohibition) Amendment Act, and the mandatory linking of Aadhaar (unique identification) with various financial transactions are some of the steps taken to improve tax compliance.
Conclusion:
Both Statement 1 and Statement 2 are true. Demonetization was indeed a step taken by the Government of India to address the problems of corruption, black money, terrorism, and circulation of fake currency. Additionally, demonetization has contributed to improved tax compliance in India over time by promoting digital transactions and formal banking channels.
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Read the following statements carefully and choose the correct alternative from the following:Statement 1: Demonetization was the step taken by the Government of India in order to tackle the problems of corruption, black money, terrorism and circulation of fake currency in the Indian Economy.Statement 2: Demonetization has ensured improved tax compliance in India over the period of time.a)Both the statements are true.b)Both the statements are false.c)Statement 1 is true and Statement 2 is false.d)Statement 2 is true and Statement 1 is false.Correct answer is option 'A'. Can you explain this answer?
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Read the following statements carefully and choose the correct alternative from the following:Statement 1: Demonetization was the step taken by the Government of India in order to tackle the problems of corruption, black money, terrorism and circulation of fake currency in the Indian Economy.Statement 2: Demonetization has ensured improved tax compliance in India over the period of time.a)Both the statements are true.b)Both the statements are false.c)Statement 1 is true and Statement 2 is false.d)Statement 2 is true and Statement 1 is false.Correct answer is option 'A'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Read the following statements carefully and choose the correct alternative from the following:Statement 1: Demonetization was the step taken by the Government of India in order to tackle the problems of corruption, black money, terrorism and circulation of fake currency in the Indian Economy.Statement 2: Demonetization has ensured improved tax compliance in India over the period of time.a)Both the statements are true.b)Both the statements are false.c)Statement 1 is true and Statement 2 is false.d)Statement 2 is true and Statement 1 is false.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the following statements carefully and choose the correct alternative from the following:Statement 1: Demonetization was the step taken by the Government of India in order to tackle the problems of corruption, black money, terrorism and circulation of fake currency in the Indian Economy.Statement 2: Demonetization has ensured improved tax compliance in India over the period of time.a)Both the statements are true.b)Both the statements are false.c)Statement 1 is true and Statement 2 is false.d)Statement 2 is true and Statement 1 is false.Correct answer is option 'A'. Can you explain this answer?.
Read the following statements carefully and choose the correct alternative from the following:Statement 1: Demonetization was the step taken by the Government of India in order to tackle the problems of corruption, black money, terrorism and circulation of fake currency in the Indian Economy.Statement 2: Demonetization has ensured improved tax compliance in India over the period of time.a)Both the statements are true.b)Both the statements are false.c)Statement 1 is true and Statement 2 is false.d)Statement 2 is true and Statement 1 is false.Correct answer is option 'A'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Read the following statements carefully and choose the correct alternative from the following:Statement 1: Demonetization was the step taken by the Government of India in order to tackle the problems of corruption, black money, terrorism and circulation of fake currency in the Indian Economy.Statement 2: Demonetization has ensured improved tax compliance in India over the period of time.a)Both the statements are true.b)Both the statements are false.c)Statement 1 is true and Statement 2 is false.d)Statement 2 is true and Statement 1 is false.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the following statements carefully and choose the correct alternative from the following:Statement 1: Demonetization was the step taken by the Government of India in order to tackle the problems of corruption, black money, terrorism and circulation of fake currency in the Indian Economy.Statement 2: Demonetization has ensured improved tax compliance in India over the period of time.a)Both the statements are true.b)Both the statements are false.c)Statement 1 is true and Statement 2 is false.d)Statement 2 is true and Statement 1 is false.Correct answer is option 'A'. Can you explain this answer?.
Solutions for Read the following statements carefully and choose the correct alternative from the following:Statement 1: Demonetization was the step taken by the Government of India in order to tackle the problems of corruption, black money, terrorism and circulation of fake currency in the Indian Economy.Statement 2: Demonetization has ensured improved tax compliance in India over the period of time.a)Both the statements are true.b)Both the statements are false.c)Statement 1 is true and Statement 2 is false.d)Statement 2 is true and Statement 1 is false.Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Class 12.
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ample number of questions to practice Read the following statements carefully and choose the correct alternative from the following:Statement 1: Demonetization was the step taken by the Government of India in order to tackle the problems of corruption, black money, terrorism and circulation of fake currency in the Indian Economy.Statement 2: Demonetization has ensured improved tax compliance in India over the period of time.a)Both the statements are true.b)Both the statements are false.c)Statement 1 is true and Statement 2 is false.d)Statement 2 is true and Statement 1 is false.Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice Class 12 tests.
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