Union Finance Minister Arun Jaitley has today said that remonetisation step after the note ban on November 8 is going on well. He also expressed hope that like last year when India was one the fastest growing economy in the world, the same will be repeated this year as well. Speaking to ANI, Arun Jaitley said he expects 2017 as a year in which GST is implemented in the country and a digitised economy to be future of India. He also added that following the demonetisatin step, large amount of amount of money, including black money came into the banking system, increasing banks’ ability to lend.
Recently, he came out with a series of figures and data to answer critics of demonetisation. With Opposition crying foul on how the Narendra Modi government’s demonetisation drive has derailed the economy of the country, the data presented by the Finance Minister came as a reply.
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Addressing the media, FM Jaitley had said, “Of course there would be areas that would also be adversely impacted but what was being predicted by the critics has to have a rationale with the revenue collections.” According to him, “with the critical part of the remonetisation already behind us, and there being no significant impact in a large number if these areas, it should certainly be much better in the weeks and months to come than it was in the last 6 weeks.