But the limit has been fixed at Rs 2.5 lakh for other individuals
"The decision on demonetisation is a movement to clean India," Modi told lawmakers.
A huge amount of cash was seized by from un-allotted and benami lockers in multiple cities
Taking into account cash elasticity of GDP, economy is likely to grow at 6.3 per cent in 2016-17
Advance Estimates peg GDP growth at 7.1%; forecast based on datasets mostly up to Oct
India's benchmark BSE Sensex index is expected to rise next year but it may not scale record highs predicted a few months back