Union Finance Minister Arun Jaitley has said that after the demonetisation step will most certainly do the world of good for the country as it along with GST when implemented, has the potential to take the country to great heights. While speaking at a seminar on on ‘Indian Economy- The New Norm’, the finance minister said that when step like demonetisation was taken, in which currency is replaced with new one and brought in the market within 24 hours, it is quite a tough job, which normally takes months, especially sending them in 1,25,00 banks, 1,55,00 post offices, and lakhs of ATMs in the country.
Praising Prime Minister Narendra Modi, the finance minister said that it takes a lot of courage to implement such kind of step.Adding further he said the prime minister took two tough jobs since coming to power, one was demonetisation and the another one was GST and after both are implemented people of the country will see the positive difference in the economy of the country. He said that earlier paying by cash or cheque were normal, but now the PM has created a new normal. With the step, paper currency would reduce, but digital currency would find growth.
While talking about the GST, Arun Jaitley added that once it is implemented prices of several items in the country will come down and theft in taxes will also be reduced and added that nearly 80 crore people are using debit and credit cards in the country. He also added that banks will be able to contribute more to the economy after the demonetisation and loans would get reduced. When GST is also implemented the country’s future will be brighter.