The demonetisation of high value currency notes along with a series of other reform measures have resulted in formalising a large part of the Indian economy, Prime Minister Narendra Modi said here today.

In an address at an ASEAN business forum, Modi also highlighted rolling out of the Goods and Services Tax (GST) as well as measures for bankruptcy and insolvency proceedings, besides the linking of Aadhaar database with financial transactions as part of broader policy initiatives to bring transparency in the financial sector.