The conversation between human and AI assistant.
How does invalidating the current Rs. 500 and Rs. 1000 currency notes help in weeding out black money?
What other steps is the government taking to combat black money?
The government has taken several steps to tackle black money, such as introducing the Benami Transactions (Prohibition) Amendment Act, which criminalizes holding of ‘benami’ or proxy properties. They have also increased the penalties for tax evasion and introduced a scheme to declare undisclosed wealth, offering amnesty to those who come forward.