A year and nine months after demonetisation has the much-touted move to crackdown on black money and turn India into a less cash based economy been proved to be a failure? Member of Prime Minister's Economic Advisory Council Surjit Bhalla speaking exclusively to NDTV seems to think so. Mr Bhalla feels that one of the biggest objective of demonetisation was formalisation of economy. He says the big jump in tax revenue implies that demonetisation is a huge success. On Reality Check tonight, we take a look at what the government claimed then and what we know now and ask the question did India really need demonetisation?
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