Demonetisation is a historic step; ’white’ transactions to be new norm

Mangalore Today News Network

New Delhi, Nov 22, 2016: Finance Minister Arun Jaitley on Tuesday said that the government is ready for discussion on Demonetisation.

Adressing MPs at the BJP Parliamentary party meeting, Jaitley said, demonetisation is “a very big decision and ggovernment has exhibited great courage by going ahead with demonetisation.”

By stopping the ’normal’ of last 70 years, PM Modi has created a new ’normal’, Jaitley said.

Stating that the decision for demonetisation has been taken for benefit of the common man, Jaitley added that note ban will rid several people out of poverty.

Terming demonetisation a historic decision, the finance minister added that the Left should look at the intent with which this move was undertaken and how this helps the poor in the long run.

“The scale of the operations and the requirement for secrecy made demonetisation a challenging task,” he said.

Rebutting criticism that the party knew about noteban decision, the FM said, “Some people are saying that even FM did not know of this decision, and then they say the party knew beforehand”.

Taking the nation by surprise, in a major assault on black money, fake currency and corruption, Prime Minister Narendra Modi on November 8 announced the demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight, making these currency papers invalid.