Friday, 2 December 2016

Arun Jaitley says printing new notes will take time

Get live News Updates visit us at Ripples Advisory or One Missed Call on @9303-093093

Union Finance Minister Arun Jaitley said on Friday said that secure printing of the new currency notes is a time-consuming exercise. “If you need to replace 86 percent of a country’s cash currency, you have to have a substantial part ready”, he said while addressing the inaugural session of HT Leadership Summit 2016. Jaitley defended the case of demonetisation by linking it to the cause of a digital economy. One of the advantages of this exercise is that it will reduce the quantum of paper, he said. “Once re monetisation is complete, will see more of digitised expenditure, developed taxation system, ease of business,” he said. “Black money has been a norm in India for seven decades, we want to confront it and create a new normal.

No comments:

Post a Comment