Monday, March 10, 2025
spot_img

Demonetisation not one-stop solution to end corruption: Jaitley

Date:

Share post:

spot_img
spot_img

New Delhi:  Defending the governments 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.
“Demonetisation is not a one-stop solution to end corruption. It cannot be, but it did change the agenda. And that changed agenda is that we should go towards less-cash economy. Individual tax payers’ number has increased, digital transactions have gone up and terror funding has squeezed,” Jaitley said.
The Finance Minister said he was “more than satisfied” with the new direction the economy is moving.
“We at BJP believe that for the nation’s economy and its future, it was necessary to change the status quo. Domination of cash in any economy, especially having 86 per cent of currency as high denomination notes, and excessive cash transactions lead to tax evasion. In such cases the taxpayers have to bear the burden, of the evaders too,” Jaitley said.
He said it is unjust that resources meant for the country’s development and welfare of the poor should be kept in rich people’s coffers. He said that though corruption will not end even in less-cash system it will become difficult to indulge in corruption.(IANS)

spot_img
spot_img

Related articles

Rohit, Rahul, spinners shape India’s third CT title triumph

Dubai, March 9: India secured an unprecedented third Champions Trophy triumph with an unblemished record, thanks to Rohit...

Meghalaya seeks exemption from NCTE rules

SHILLONG, March 9: Meghalaya is seeking exemption from the National Council for Teacher Education’s (NCTE) regulations in order...

Ronnie not joining NPP, says Hamlet

SHILLONG, March 9: The NPP state leadership has denied reports of Congress legislator Ronnie V Lyngdoh joining the...

Meghalaya among states with shortest working hours for govt, pvt employees

SHILLONG, March 9: Meghalaya is among the states with the shortest working hours in India, reveals a recent...