Hitting out at Left parties and Congress for raising

Hitting out at Left parties and Congress for raising

ZCZC
PRI GEN NAT
.BHUBANESWAR CAL10
JAITLEY-CORRUPTION 2 LAST
Hitting out at Left parties and Congress for raising
questions about the move to promote digital currency, Jaitley asserted that paper currency was going to fall as the country moved towards a cashless economy.
Slamming the critics, he said the figure of digital currency in the form of debit and credit cards in the country stood at over Rs 80 crore, out of which cards worth around Rs 45 crore were in active use now.
Therefore, the use of digital currency is definitely going to increase in the country as people in crores have already started using it, he said, adding that after a few months the “temporary difficulties” seen following note-ban would disappear.
Stating that “re-monetisation would automatically follow demonetisation” with alternative currencies replacing the old ones, the minister added that lakhs of crores of rupees which remained outside the system was being brought within.
Referring to challenges before Indian economy, Jaitley said while global economic slowdown had its impact, banks had become weak and lost their ability to support the economy, affecting work in infrastructure and many other sectors.
“With demonetisation of high value currency notes, the banks are going to be flush with money, which would play a significant role in giving a boost to industrial, developmental and commercial activities,” he said.
Demonetisation drive coupled with introduction of GST would definitely bring a better future for the country with safeguards against corruption, the minister added. PTI SKN MD SRY
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