New Delhi, November 4: Finance Minister Arun Jaitley on Saturday lashed out at Congress over its opposition over demonetisation, saying that its leaders are opportunists and lack the understanding of Indian economy. Also Read - Four Years of Demonetisation: PM Modi Hails Transparency, Congress Calls it 'National Tragedy'

“Note ban was taken up for a few reasons. When the Congress-led UPA was in power for ten years, it had not fought against black money. The party never took big steps against corruption,” Jaitley said while addressing the media in Gandhinagar. Also Read - Late Arun Jaitley's Son Rohan Files Nomination For DDCA President's Post

The Finance Minister further added, “Apart from fighting India’s black money problem, demonetisation also aimed to expand the country’s tax base, encourage less cash and more digital transactions and fight terror funding”. Also Read - 'Miss my Friend a Lot,' Says PM Modi on 1st Death Anniversary of Arun Jaitley; Many Political Leaders Pay Tribute

FM Jaitley said that the government is also taking up the issue of bringing transparency in political funding seriously.

“In my budget speech this year, I said that in order to legitimise political funding, we also need to look at issuing electoral bonds,” the finance minister said to media.

While talking about Gujarat and its development under the BJP, Jaitley said that socio-economic development is the only agenda of the Gujarat unit of the party.

Jaitley also slammed the Congress over its obsession with PM Modi, saying that the party has fought three elections in the state solely focusing on one person.

Preparations are in full swing for Gujarat assembly elections which will be held in two phases: December 9 and December 14. Counting of votes will take place on December 18.

FM Jaitley is currently in Gujarat where he is BJP’s poll in-charge. He will be holding meetings at the BJP’s media centre raised in Ahmedabad.