November 23, 2024 14:38 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
'Third World War has begun:' Ex-Ukraine military commander-in-chief Valery Zaluzhny | UK-India Free Trade Agreement negotiations to resume in early 2024 | UK can arrest Benjamin Netanyahu if he visits country based on ICC warrant | Centre to send over 10,000 additional soldiers to violence-hit Manipur amid fresh violence | Chhattisgarh: 10 Maoists killed during encounter with security forces in Sukma
Govt's decision on demonetization has been welcomed by citizens: Jaitley

Govt's decision on demonetization has been welcomed by citizens: Jaitley

| | 09 Nov 2016, 04:55 pm
New Delhi, Nov 9 (IBNS): Union Finance Minister Arun Jaitley said the move to discontinue with Rs 1000 and Rs 500 currency notes has been welcomed widely by citizens.

"The decision has been welcomed widely by citizens," Jaitley said while addressing a press conference here.

Modi said the decision will play a crucial role enhancing the credibility of the Indian economy.

" The decision was also important to enhance the credibility of the Indian economy," he said.

He said, "The demonetization will not only nudge, but also push, the economy in the direction of a cashless economy."

The Finance Minister said very few decisions are taken by the government which help in changing the lifestyle of the people.

"This decision will change the way people spend and keep their money," he said.

Speaking on the impact of the move on the country's GDP, he said: "The demonetization not only expands the national GDP; it makes it cleaner as well."

In a bold step to curb the usage of fake Indian currency and combat the issue of black money, Prime Minister Narendra Modi has announced that Rs.500 and Rs.1000 notes will cease to be legal from Tuesday midnight.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.