Question
Assertion (A): Demonetization in 2016 significantly
increased India’s GDP growth rate. Reason (R): Demonetization led to the formalization of the economy and improved tax compliance.Solution
Demonetization caused a temporary decline in GDP growth due to cash shortages, but it did promote formalization and better tax compliance. Hence, the assertion is false, but the reason is true.
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Select the most appropriate option to fill in the blank.Â
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Fill in the blanks.
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