Budget 2018 issues: After note ban, tax base, digital drive up, realty down

Ahead of Union Budget 2018-19, Business Standard and PwC take a look at the impact of demonetisation on economy in one year

On 8 November, 2016, Prime Minister Narendra Modi had announced the scrapping of Rs 500 and Rs 1,000 notes citing black money, corruption, terror funding as threats to the country.

The immediate impact of the note-ban drive on economy was ambiguous at the beginning, considering the fact that the goalpost on its objective was gradually shifted. However, a spin-off from demonetisation has been the overall increased emphasis on digital transactions and that channel has seen a multi-fold growth, along with new additions made in the tax-payers list.

Business Standard and PwC take a look at impact on economy after one year of demonetisation: