Demonetisation: Nov 8 is 'anti black money day'

Finance Minister Arun Jaitley

"On 8th November 2017, BJP will celebrate "Anti-Black Money Day" in the nation", Finance Minister Arun Jaitley said.

"There was a parallel black money economy in the country".

The government will observe November 8 as "anti-black money day" and central ministers and BJP leaders will travel across the country to highlight gains of last year's demonetisation of high-value banknotes, Union finance minister Arun Jaitley said on Wednesday. When the NDA government came to power (May 2014), Prime Minister Narendra Modi took steps to minimise and end it.

Listing the government's steps to counter corruption and black money, Jaitley hit out at the opposition Congress for observing the demonetisation anniversary as "Black Day".

Congress leader Ghulam Nabi Azad on Tuesday said, "18-Party Opposition Coordination Committee met yesterday and made a decision to observe November 8 as a "black day" due to demonetisation". He said over 99 per cent of the money the prime minister had junked has returned to banks as it was genuine money of the people and not black money and only 0.0013 per cent of black money has been found.

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He said the government also brought in laws to check black money by giving a last opportunity to those who had stashed money overseas by offering them 60 per cent for repatriating their assets.

Attaching a tweet posted on Tuesday by the Press Information Bureau, the government's official publicity wing, which said that real GDP growth average was 7.5 per cent in the last three years, Rahul posted: "Dear Jaitley, May the Farce be with you".

Twenty one state-run banks account for more than two-thirds of India's banking assets. It was a huge step for squeezing cash economy, cash-based transactions and widened the tax base. Demonetisation was a big step towards it.

"The Congress had adequate opportunity to be in power".

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