<h1>Finance Minister: Demonetisation and GST to Boost Tax Compliance, Integrate Shadow Economy, and Expand Formal Economy.</h1> Finance Minister defended demonetisation, asserting it temporarily disrupted the financial system but will ultimately integrate the shadow economy with the formal one, enhancing tax compliance. He noted that contentious issues regarding the Goods and Services Tax (GST) have been resolved between the Centre and states, with implementation in its final stages. The combination of demonetisation and GST is expected to increase revenues for both state and central governments and expand the formal economy. Jaitley emphasized that India struggles with tax compliance, leading to unfair burdens on compliant taxpayers. The GST aims to unify the market, reduce evasion, and increase revenue.