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Finance Minister Defends Demonetisation, Says People Welcomed The Move

While announcing the unprecedented Rs 2.11 lakh crore capital infusion roadmap for the public sector banks last week, Arun Jaitley had said, this will be accompanied by series of banking reforms over next few months. (TV grab/CNN-News18)

While announcing the unprecedented Rs 2.11 lakh crore capital infusion roadmap for the public sector banks last week, Arun Jaitley had said, this will be accompanied by series of banking reforms over next few months. (TV grab/CNN-News18)

Finance Minister Arun Jaitley on Tuesday defended the Centre’s demonetisation of Rs 500 and 1000 currency notes and said the move was welcomed by people across the country.

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New Delhi: Finance Minister Arun Jaitley on Tuesday defended the Centre’s demonetisation of Rs 500 and 1000 currency notes and said the move was welcomed by people across the country.

He also said that the government was ready for any discussion on demonetisation but the Opposition was stalling the process.

"The whole country welcomed the step taken to curb the black money... We are ready to hold a discussion on demonetisation," He said at a media briefing after the BJP parliamentary body meeting.

"It was a major step and it required courage by the government to go ahead with it," he added.

Jaitley said the government was aware of the situation in rural parts of the country. He said,” We will be focusing more on getting the new currency to rural areas as it is the sowing season. We have taken some major decisions last night it will benefit rural economy a lot.”

“ Demonetisation will have a huge impact, Banks will cut lending rates, people will get more money in their hands. We want a good taxation system in the country where people pay tax honestly,” he said.


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