Loot was 2G, CWG and coal allocation, not demonetisation: Jaitley hits back at Manmohan

Defending the government's decision to demonetise high value currency last year, Finance Minister Arun Jaitley on Tuesday said that demonetisation cannot be a one-stop solution to cleanse all corruption, but it did give a "new direction" to economic and financial decisions.

07 November 2017

16:05 IST

Making India a less-cash, higher tax base economy were objectives of demonetisation. Tax payers, digital transactions increased in a year. Demonetisation met the objective of reduction in cash circulation, with Rs 3.89 lakh crore less cash in economy now than in 2016, says FM Jaitley

16:01 IST

Resource availability increased with respect to more money in banks, mutual funds, insurance, capital markets in the last 1 year: Jaitley

16:00 IST

It was a hidden urge of the larger section of our society for a long period of time to root out the curse of corruption & black money: Arun Jaitley

15:59 IST

No one had imagined the scale of digital payment currently in India economy, says Jaitley

15:59 IST

One of the important objective of demonetisation was to make India a less cash economy & thereby reduce flow of black money in the system: Jaitley

15:57 IST

Congress's primary object is to serve the family and our primary object is to serve the nation: Finance Minister Arun Jaitley

15:53 IST

All that Singh has to do is to compare the status of Indian economy pre-2014 and post-2014. Pre-2014, Indian economy was one marred with policy paralysis, and today there is no agency that doesn't hail the reforms taken in Indian economy this Singh is Manmohan Singh: Jaitley

All that Dr Singh has to do is to compare global credibility of Indian economy pre 2014 and post 2014: FM Arun Jaitley pic.twitter.com/plnS4traLX

— ANI (@ANI) November 7, 2017

15:52 IST

We had made all preparations needed for demonetisation. It is wrong to say that it was an unprepared move: Jaitley

15:52 IST

Arun Jaitley skirts question on Raghuram Rajan's views on demonetisation

15:51 IST

Post demonetisation our country has moved on to a much cleaner, transparent & honest financial system which will benefit future generations, says Jaitley

15:50 IST

Terror funding was squeezed because of #Demonetisation, shell companies also being easily identified: FM Jaitley

15:49 IST

Congress has never taken any big step against black money: FM Jaitley

15:49 IST

After the experience over the past one year, the party stands firm on the move taken: Jaitley

15:48 IST

In BJP we believe that if we want to become a developed nation, we need to ensure a less-cash and cleaner economy, says FM Jaitley

15:47 IST

As far as ethics is concerned, our point of view is different from that of Congress. Their primary objective is to serve a family, and our objective is to serve the nation: Jaitley

15:47 IST

The difference between UPA and NDA is policy paralysis and structural reform, says Arun Jaitley

15:46 IST

Calling an ethical move like this a loot is not justified. Loot is one that took place in 2G, CWG and coal blocks allocation: Jaitley

15:45 IST

We have undertaken structural reforms to bring about real change: Jaitley

15:45 IST

Terror funding was squeezed because of #Demonetisation, shell companies also being easily identified: Jaitley

15:45 IST

Demonetisation one off solution hai aur isse saari samasyaien khatam ho jayengi aisa nahi hai, lekin isse agenda badla hai: Jaitley

15:43 IST

Demonetisation was a watershed moment for the Indian economy and November 8, 2016 will be viewed with pride by next generation as it provided them a fair and honest system to live in: FM Arun Jaitley on eve of note ban anniversary