Demonetisation: Chalta hai has to end, nation has got this once-in-a-lifetime chance to leave a legacy, says Piyush Goyal

Making a strong case for going digital, Goyal said that such a move could help the country save more than Rs 20,000 crore.

By: Express News Service | Pune | Updated: November 29, 2016 12:25 pm
piyush goyal, demonetisation, black money, corruption, debit cards, cashless economy, latest news Union Minister Piyush Goyal at Express Adda. (Express Photo: Pavan Khengre)

The government hopes that the biggest impact of its demonetisation move would be on the mindset of people, according to Union Minister Piyush Goyal. Speaking at the Express Adda in Pune Sunday, the Minister of State (independent charge) for power, coal, new and renewable energy, and mines, said that demonitisation has given the nation a “once-in-a-lifetime opportunity” to leave behind a legacy for its youth. “The ‘chalta hai’ approach has to change some day. Old habits die hard and I cannot expect that tomorrow the whole world will become clean and everybody will run their business honestly. But it’s a once-in-a-lifetime opportunity for a nation as large as India to think differently, to try and leave behind a legacy for the youth of India, which is different from the one we inherited. And to my mind, the time is right,” he said.

WATCH VIDEO: Income Tax Law To Be Changed To Increase Penalty On Unexplained Deposits: All You Need To Know

Making a strong case for going digital, Goyal said that such a move could help the country save more than Rs 20,000 crore. “Currently in India, we have about 71 crore debit cards and 26 million credit cards. Over 450 million of them are used only for withdrawing cash from an ATM. Hardly 45-50 million are used for transacting. It’s an unfortunate situation. Transacting through cash — drawing cash, printing of currency, movement of notes and then collecting them back in the bank, dispensing it through ATMs or counters — costs us Rs 55 to Rs 70 per transaction, all of which can be saved,” he said.

Coming down heavily on the Opposition for holding protests against demonetisation, Goyal said the people have overwhelmingly supported the government’s move. The minister also said that the soon-to-be-introduced Goods and Services Tax (GST) would not be successful if a parallel economy existed. “GST would be more successful after demonetisation,” he said.

Speaking about charges levelled by the Opposition, that the government was causing distress to the country for only 0.2 per cent of fake currency in circulation, Goyal said that the government can only give details of fake currency detected or discovered through investigation.

“Now that’s the fake currency that got caught. I don’t know how much more there is because if I knew, I would have caught it. Similarly, how much black money is there is something that the former prime minister and his party will know better. I certainly don’t know. But when this scheme ends, we will certainly know how much increased taxes we get out of the scheme, or how much money never gets deposited in the account because we expect to have all the honest money back into the banking system,” he said.

Welcoming the decision of Bihar Chief Minister Nitish Kumar to abstain from the protests over demonetisation, Goyal said he was glad that the JD(U) leader was not part of the “unethical protests”.

Asked about the possibility of any future alliance between the JD(U) and BJP, Goyal quipped: “We are against triple talaq but the Constitution allows for honorable divorce in case of a rocky marriage.”

For all the latest India News, download Indian Express App now

First Published on: November 29, 2016 4:21 am
  1. A
    Abhinav Gour
    Nov 29, 2016 at 5:28 pm
    Those opposing should know they will loose their deposit in the next elections n will neither exist as a party , all along they thought 5 yrs will p n theyl be back it doesnt look like anymore n this pm will break the records as the longest serving pm of india
    Reply
    1. K
      Karan
      Nov 29, 2016 at 3:14 am
      Ek to aam log pareshan upar se in netaon ke bade bol,are we not tired?
      Reply
      1. A
        ashok s
        Nov 29, 2016 at 1:53 am
        Goyalji do you buy groceries, vegetables , how you make payments??
        Reply
        1. J
          Jitesh
          Nov 29, 2016 at 2:01 am
          Itni buri nobat aayi h.. sara black money tha kya..
          Reply
          1. M
            Modihatao
            Nov 28, 2016 at 6:38 pm
            Demonetisation is a Fake Dream created by Modi to seve his elite cabal who funded his 2014 Election. By the time Nation and people wake up from this fake dream create by Modi they will be in great shock
            Reply
            1. S
              shen
              Nov 29, 2016 at 6:25 am
              people have used so many excuses not to change and of course blaming government and everybody else is the easiest way to ignore people's own responsibility. Everybody wants an easy way out without doing anything extra.. Chalta hai makes life so easy without any responsibility. Talking about becoming super power is so easy and does not take any work.
              Reply
              1. N
                NS
                Nov 29, 2016 at 3:40 am
                APPi ji zameen agar cheque se khareedi jaye to black money ki nahi hoti... but i guess i am being unfair to expect an AApi to have brains
                Reply
                1. N
                  NS
                  Nov 29, 2016 at 3:38 am
                  don't bother... AAP zombies only put allegations like their supreme leader sri yugpurushji
                  Reply
                  1. N
                    NS
                    Nov 29, 2016 at 3:37 am
                    save ki spelling hee seekh lo..phir bakwaas karo
                    Reply
                    1. V
                      Vihari Naidu
                      Nov 29, 2016 at 2:18 am
                      Disclaimer: Chinese company PayTm didn't sponsor this ad. I promise on you.
                      Reply
                      1. V
                        Vihari Naidu
                        Nov 29, 2016 at 2:17 am
                        Kya tum apni black money se jamin karid chuke ho BJP ki tatah ?
                        Reply
                        1. S
                          sahil
                          Nov 29, 2016 at 6:37 am
                          yes chalta hai will change in UP , Punjab and finally in 2019 when the dream of Brahmin Reich will be shattered. Who knows what will happen to the fuhrer.
                          Reply
                          1. A
                            Augustus
                            Nov 29, 2016 at 3:29 am
                            Chalta hai will not end as long as we have a corrupt political system and politician - criminal nexus, his own party is a standing example of criminal, business and political relationship which is thriving on the political charisma of Modi and its religious ideny, how well this demonetization is going to work in ending black money, corruption, counterfeiting, terrorism is all yet to be seen, for the time being Modi has scored well by creating another smoke screen to cover his failures
                            Reply
                            1. Load More Comments