The government says demonetization will provide a fillip to formal economy, improve tax collection and open up new opportunities for poor. Addressing media in New Delhi this evening, Information and Broadcasting Minister Venkaiah Naidu said, the country is moving towards digital economy and demonetisation is an effective anti-scam vaccine to end generations of black money and corruption. <br/><br/>Appreciating the demonetisation move, Mr Naidu said, it has resulted in huge influx of money into the banking system bringing down the interest rate. He said, corruption has been so much institutionalised in different walks of life in the country and needs a mammoth effort to address the problem. <br/><br/>Taking on the Congress party for its criticism of demonetisation, the Minister said, the opposition party was anti-poor and supported rich people and also worked for them. He said the government is trying to promote less cash economy with the aim to trace the trail of every rupee in the system. <br/><br/>Noting that the country is passing through massive economic transformation, he said Narendra Modi government is committed to provide scandal-free governance, effective inflation management and transparent allocation of resources. <br/><br/>Replying to a media query whether India pushed rating agency Moody's for an upgrade, the Minister said, the country never lobbied for rating upgradation and only provided information to the agency about the initiatives taken by the government.