On completion of three years of demonetisation, former Secretary of Economic Affairs Subhash Chandra Garg has said that a large part of the 2000 notes are not in circulation. They are hoarding, they should be stopped. According to Garg, there is a lot of cash in the system. Closing 2000 notes will not cause any trouble.

Garg said that the trend of digital payments is increasing worldwide. This is also happening in India, although its pace is slow. Here 85% of payments are being made in cash. Garg suggested that steps such as levying taxes or fees on large cash transactions, easing digital payments would help make the country cashless.


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