Note ban wiped out â¹6 lakh crore of black money: Govt
The Centre stated that demonetisation wiped out â¹6 lakh crore of black money from the economy. There has been a 50% reduction in high-value notes that would have been in circulation if demonetisation didn't happen, according to government. However, the Opposition argued that efforts to curb black money had failed as nearly the entire cash returned to the system. 