Hailing PM Narendra Modi’s demonetisation move as a bold one, Microsoft founder Bill Gates said that it is an important step to move away from the shadow economy to a more transparent one. According to reports, Gates said digital transactions would rise dramatically, and, in the next several years, India would become one of the most digitised economies not just by size, but percentage as well. He urged the government to take steps to ease the expansion of its vast internal market by investing in infrastructure, building efficient markets, addressing land and labour issues, and streamlining tariffs and taxes. Lauding the government’s Aadhaar, Startup India, and Swachh Bharat initiatives, Gates said that India was trying to do what had never been done before.
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