To tackle the problem of corruption, black money, terrorism and the circulation of fake currency in the economy, demonetization was an initiative taken by the Government of India in the period?
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → November 2016.
The Government of India announced demonetization on 8th November 2016, declaring that the existing ₹500 and ₹1000 currency notes would no longer be legal tender. This move aimed to tackle issues like corruption, black money, terrorism financing, and fake currency circulation in the economy.