Finance Minister Arun Jaitley today said that demonetisation resulted in the formalisation of economy and has increased the tax base.

Addressing Jagran Conclave in New Delhi, Mr Jaitley said, in first four and half years of the NDA government, the number of income tax returns filers has gone up to 6.86 crores from 3.8 crores in 2014. He said, it will be doubled next year to around 7.6 crores.

Mr Jaitley said, due to demonetization 18 lakh people who were not paying income tax came under scanner.