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No Cash Crunch, But it Has to Reach People's Hands, Says Govt

News18.com | November 25, 2016, 9:53 PM IST
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Union Commerce Minister Nirmala Sitharaman, in an interview to CNN-News18, said that there is no cash crunch but the cash has to reach perople's hands. She also said it is because of this bold measure that the Indian economy is cleaner and globally the currency is fluctuating.

"People are slowly evolving towards technology such as e-wallets," said the minister.

She admitted the lack of small denomination notes hit the vegetable mandis, but things have changed with the 500 notes coming in. She further added that the labour-intensive sectors are a cause of concern as bank accounts need to be opened.

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We are constantly telling the opposition to come and debate, says Nirmala Sitharaman

Nov 25, 2016 5:54 pm (IST)

This is an essential step to make economy cleaner, says Nirmala Sitharaman

Nov 25, 2016 5:53 pm (IST)

Labour intensive sectors are a cause of concern as bank accounts need to be opened, says Nirmala Sitharaman

Nov 25, 2016 5:52 pm (IST)

The lack of sufficient small denomination notes hit the vegetable mandis, but things have changed now with 500 notes coming in, says Nirmala Sitharaman

Nov 25, 2016 5:36 pm (IST)

Leader of Congress in Lok Sabha, Mallikarjun Kharge accused the Prime Minister of "selective leakage" of demonetisation move to his own partymen, who converted their black money through property and other avenues.

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Congress party today is standing with the people who have black money: Anurag Thakur

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New notes worth 25 lakhs looted in Bihar

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READ: Pakistan Also in Demonetisation Mode, But Has Time Till December 31, 2021

An exercise somewhat similar, but not the same as India's demonetisation, is currently underway across the border in Pakistan.

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Responding to a question on digital payment systems, Finance Minister Arun Jaitley said the government wanted the physical currency to come down and be substituted by digital currency.

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READ: Pakistan is Damaging Itself By Fighting Against India: PM Modi

Prime Minister Narendra Modi on Friday said Pakistan was yet to settle from the setback of surgical strikes and was damaging itself by fighting against India.

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Person carrying huge amount of old currency notes detained in Dimapur airport. He was coming by Air India flight from Kolkata. CISF detained him after input received from higher authorities. Dy Commissioner Income Tax, Guwahati and a team is questioning him inside Dimapur Airport.

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Just before Demonetisation BJP purchased properties worth crores in Bihar & other areas to turn black money into white: Rajeev Surjewala, Congress 

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READ: Nitish Kumar Supports , Dismisses Fissures in Coalition

Reiterating his support to the Centre's demonetisation decision, Bihar Chief Minister Nitish Kumar today described the move as a

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No Cash Crunch, But it Has to Reach People's Hands, Says Govt
Union Commerce Minister Nirmala Sitharaman spoke to CNN-News18 on Friday.

Union Commerce Minister Nirmala Sitharaman, in an interview to CNN-News18, said that there is no cash crunch but the cash has to reach perople's hands. She also said it is because of this bold measure that the Indian economy is cleaner and globally the currency is fluctuating.

"People are slowly evolving towards technology such as e-wallets," said the minister.

She admitted the lack of small denomination notes hit the vegetable mandis, but things have changed with the 500 notes coming in. She further added that the labour-intensive sectors are a cause of concern as bank accounts need to be opened.

She urged the Opposition to come and debate.

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