Was difficult to keep demonetisation campaign secret: Arun Jaitley

The finance minister said that the demonetisation will increase investments in rural India.

By: Express Web Desk | New Delhi | Updated: November 24, 2016 7:33 pm
gst, gst council meet, arun jaitley, gst news, gst rates, gst rate structure, business news, economy news Union Finance Minister Arun Jaitley. (PTI Photo)

Union Finance Minister Arun Jaitley on Tuesday defended the government’s demonetisation decision and said the party was ready to hold a discussion on the issue in Parliament. “We are ready to hold a discussion on demonetisation.  It is the opposition that keeps running away from the debate,” he said.

The finance minister said that demonetisation will increase investments in rural India. “Demonetisaion will increase investments in the country. It will also help in reducing poverty. The decision is taken for the benefit of the country,” he said.

WATCH VIDEO: Finance Minister Arun Jaitley Slams Opposition Over Demonetisation

Jaitley also said that after demonetisation, cash worth crores of rupees has come into the banking system which will increase the capacity of banks to prove loans. He also said that the move will boost digital economy, which in turn will ensure minimum wages.

Criticising the opposition’s claims of mismanagement by the government in implementation of the policy, Jaitley said that it was a huge decision and the government had to be strong to make difficult choices. “It was tough to keep such a huge campaign secret. It was a huge decision and required the government to be strong. The opposition says that the party members knew beforehand, but even the Financial Minister was unaware about the move,” he said.

Jaitley said that the entire country is supporting the demonetisation move, in spite of claims made by the opposition parties. Talking about the future steps, he said that all labourers and daily wagers must have bank accounts. He also said the government is planning to focus on agricultural sector with the Rabi season coming.

Ensuring that the difficulties will end soon, Jaitley said, “The business is running slow these days. But it is a matter of only few days,” he said.