If only Manmohan Singh had paid attention to the welfare of the people and raised his voice when he was the PM!!!!
Meaning of 'formalise': To make something official or decide to arrange it according to a fixed structure - Cambridge dictionary. Indian economy is not unofficial. So, demonetistion has only arranged it according to a fixed structure, which was hitherto absent according to the FM. Will he be pleased to enlighten us what new structure has demonetisation given to Indian economy other than forcing the Government to eye the reserve of the RBI?