Demonetisation anniversary Arun Jaitley Live updates: FM says Terror funding was squeezed, shell companies also easily identified due to note ban

By: |
New Delhi | Updated: November 7, 2017 4:53:57 PM

Demonetisation anniversary Arun Jaitley Live updates: Prime Minister Narendra Modi back in 2016 shocked the country with the demonetisation order on November 8.

FM Arun Jaitley (ANI)

Demonetisation anniversary Arun Jaitley Live updates: Ahead of one year anniversary of demonetisation, Finance Minister Arun Jaitley addressed the media. FM Jaitley interacted with journalists in the national capital in the afternoon and highlighted the crackdown on black money to mark the first anniversary of demonetisation. As Jaitley addressed the media in Delhi, Law Minister Ravi Shankar Prasad and Bihar Deputy CM Sushil Kumar Modi spoke in Bhopal and Patna respectively. During the press conference, Jaitley said, “Demonetisation was needed to boot out black money.” He added that due to note ban terror funding was squeezed and shell companies are easily being recognised. He also cited one of the major reason for the note ban. Jaitley said,”One of the important objective of demonetisation was to make India a less cash economy.” He also called demonetisation as a watershed step. He said,”Demonetisation a watershed moment for India.” As BJP will observe the eve as ‘Anti-Black Money Day’, Jaitley called it as a noble step. He said,”Anti-black money drive is a noble step; what UPA did via 2G scam, CWG scam was loot.”


Here are the LIVE updates of the event|

4:27 PM: Jaitley in his blog said that RBI has reported in their Annual Accounts that Specified Bank Notes (SBNs) of estimated value of Rs.15.28 lakh crore have been deposited back as on 30.6.2017. The outstanding SBNs as on 8th November, 2016 were of Rs.15.44 lakh crore value. The total currency in circulation of all denominations as on 8th November, 2016 was 17.77 lakh crore.

4:25 PM: Earlier Jaitley had even written a blog on demonetisation.

4:05 PM: FM Jaitley: Demonetisation choked tax cheats from the system.

4:04 PM: India’s economy was revived by NDA post UPA paralysis, says FM Jaitley.

4:03 PM: Demonetisation was a boost to Digital India, says FM Jaitley

4:02 PM: Criticism of demonetisation is understandable, says FM Jaitley

4:01 PM: FM Jaitley: Demonetisation was a boost to transparency.

4:00 PM: Demonetisation brought more cash into banks, says FM Jaitley.

3:59 PM: Loot took place during UPA government, says FM Jaitley.

3:58 PM: Congress’s primary object is to serve the family and our primary object is to serve the nation, says FM Arun Jaitley.

3:57 PM: BJP thought status quo on economy needed to be shaken up says FM Arun Jaitley.

3:56 PM: FM Jaitley: Pre-2014, we were off global radar.

3:55 PM: India has a cleaner, honest system, says FM Jaitley.

3:54 PM: Congress has never taken any steps for black money eradication, says Jaitley.

3:53 PM: Anti-black money drive is a noble step; what UPA did via 2G scam, CWG scam was loot, says FM Jaitley

3:50 PM: 18 lakh people identified with disproportionate deposits; shell companies also being easily identified post demonetisation, says Jaitley

3:49 PM: Less cash will not end corruption but certainly make it difficult, says FM Jaitley.

3:48 PM: Rs 13716 cr of undisclosed income detected in surveys in 2016-17 higher by 41% YoY, says FM Jaitley.

3:47 PM: No currency replacement scheme had been implemented earlier with such ease, says Jaitley.

3:44 PM: Terror funding was squeezed because of Demonetisation, shell companies also being easily identified, says Jaitley.

3:43 PM: It’s obvious there will be questions raised in a democracy, says Jaitley

3:41 PM: Demonetisation was needed to boot out black money.

3:40 PM: Fall in currency in circulation indicates the objective was met, says FM Jaitley

3:39 PM: One of the important objective of demonetisation was to make India a less cash economy, says Jaitley

 3:37 PM: Cash holding in the system is no more anonymous, says FM

3:35 PM: Demonetisation a watershed moment for India, says Jaitley.

3:33 PM: The country was moved to a more transparent system: FM Jaitley.

3:21 PM: One of the important objective of demonetisation was to make India a less cash economy & thereby reduce flow of black money in the system: FM Jaitley.

3:22 PM: Post demonetisation our country has moved on to a much cleaner, transparent and honest financial system.Which will benefit future generations: FM Jaitley

3:10 PM: Earlier in the day, FM Jaitley released a blog on Demonetisation on his social media account

Do you know What is Repo Linked Lending Rate (RLLR), Wholesale Price Index (WPI), Public Debt, Finance Commission Grants & Other Transfers, Economic Survey? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.