Demonetisation: Nov 8 is 'anti black money day'

Finance Minister Arun Jaitley

The government will observe November 8 as "anti-black money day" and central ministers and BJP leaders will travel across the country to highlight gains of last year's demonetisation of high-value banknotes, Union finance minister Arun Jaitley said on Wednesday.

Addressing a press conference here, Congress leaders Anand Sharma and Randeep Singh Surjewala said that "Modi-made disaster" of demonetisation followed by an "ill-conceived" Goods and Services Tax (GST) has decimated jobs and incomes in the country. He said over 99 per cent of the money the prime minister had junked has returned to banks as it was genuine money of the people and not black money and only 0.0013 per cent of black money has been found.

Jaitley also hit out at the Congress over its plans to observe the day because the demonetisation decision was "ill conceived".

Arun Jaitley further said the capital infusion would be accompanied by series of banking reforms which would be spelled out in the next few months.


He also quoted a recent International Monetary Fund report that projected India will achieve an eight per cent growth rate soon.

With his tweet, the Gandhi scion indicated his belief that Jaitley's positive forecast for the economy was a "farce" created to mislead people.

Real GDP growth average is 7.5% in the last 3 years. He said since the government was formed in 2014, from day one it had taken steps against black money. "The finance minister claiming that India's economy is the world's fastest growing is incorrect and factually wrong", Sharma told reporters, adding that China was five times bigger economy which was growing faster than India's. "If there is an ideological polarisation over a debate on November 8 over the issue of pro-excess cash economy and anti-black money, then the BJP will definitely take it forward", Jaitley said.

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