Monday, 24th February, 2020


We knew from the beginning Indians hate to hoard black money, outcome of demonetization shows that: Arun Jaitley

01, Sep 2017 By dasu

New Delhi:  Commenting on the demonetization data RBI has shared at last, finance minister Arun Jaitley clarified the fallout of the demonetization was on expected lines. Government is taking one step at a time, have patience, economy will improve and ache din will come one day.

While having one on one conversation with our reporter, Mr. Jaitley said, “What I meant by expected lines is we knew Indians are by and large honest citizens barring a few. Demonetization exercise was done to prove this point with hard facts and figure. Indians hate to hoard black money as you can see from the outcome of this exercise.”

“Just see India’s image today from world perspective. It is coming across as one of the cleanest economy in the world. All these thanks to our citizens who do whatever Government want them to do keeping their best interest in mind,” said Mr. Jaitley.

Mr. Jaitley added, “That’s one of the reason in today’s cabinet meeting I suggested to cancel linking Aadhaar and PAN. When economy is clean why to unnecessarily track our people, unnecessarily harass them by asking questions on their income. At the end, Cabinet came to a conclusion, let us not cancel the linking process as people who have taken so much pain to do it might feel bad. Let us postpone it till end of the year, then slowly slowly we will ditch this.”

On GDP growth coming at three year low of 5.7 % in Q1, was it also on expected lines, MR. Jaitley said, “Slightly disappointing, still we are one of the fastest growing economy in the world. With GST making most of the items affordable, growth will bounce back. Next year I am expecting growth will be 7 plus or minus 3 percent”.

On next set of reforms, Mr. Jaitley said, “Plenty of work still pending. New 100, 1000 rupee notes, new notes which came recently their design and color needs improvement. Oh Yes, I have not added any new cess for quite some time. Let me think & propose one to improve our tax collection”.