▁Sch eme ▁ 2 0 1 6 . ▁If ▁adjust ed ▁for ▁it , ▁the ▁increase ▁in ▁tax ▁collection ▁was ▁mod est . ▁The ▁tax - to - G DP ▁ratio ▁has ▁increased ▁due ▁to ▁expand ing ▁tax ▁base . ▁An ▁analysis ▁of ▁the ▁economic ▁data ▁shows ▁that ▁there ▁has ▁been ▁no ▁substantial ▁increase ▁in ▁the ▁number ▁of ▁new ▁tax ▁pay ers ▁or ▁direct ▁tax ▁collection ▁due ▁to ▁demon et isation . ▁ ▁The ▁use ▁of ▁demon et ised ▁bank notes ▁was ▁allowed ▁for ▁the ▁payment ▁of ▁municipal ▁and ▁local ▁civ ic ▁body ▁tax es , ▁leading ▁to ▁a ▁jump ▁in ▁their ▁re venue ▁collections . ▁For ▁example , ▁the ▁Gre ater ▁Hy der abad ▁Municipal ▁Corporation ▁reported ▁collect ing ▁about ▁ ▁in ▁c ash ▁pay ments ▁of ▁out standing ▁and ▁advance ▁tax es ▁within ▁the ▁first ▁four ▁days ▁of ▁demon et isation . ▁ ▁Digital ▁pay ments ▁The ▁push ▁for ▁digital ▁pay ments ▁was ▁one ▁of ▁the ▁stated ▁intent ions ▁of ▁demon et isation . ▁There ▁was ▁immediate ▁and ▁sharp ▁jump ▁in ▁digital ▁pay ments ▁in ▁November – Dec ember ▁ 2 0 1 6 ▁ow ing ▁to ▁short ages ▁of ▁c ash . ▁The ▁deb it ▁card ▁point ▁of ▁sales ▁transactions ▁was ▁twice ▁the ▁size ▁of ▁value ▁suggested ▁by ▁tr ends ▁before ▁demon et ization . ▁The ▁value ▁of ▁credit ▁cards ▁increased ▁but ▁no ▁sharp ▁growth ▁was ▁seen . ▁The ▁mobile ▁wal let ▁transactions ▁picked ▁up ▁immediately ▁after ▁demon et ization , ▁followed ▁by ▁a ▁dip ▁in ▁mid - 2 0