Finance Minister Arun Jaitley said that the demonetisation process is almost complete, hailing it as the "smoothest possible replacement" of high denomination currency anywhere in the world. Describing the government's decision to take Rs 500 and Rs 1,000 notes out of circulation as a move towards creating a "new normal" in India, the minister told an audience of students and academics at the prestigious London School of Economics that it would ultimately lead to far higher growth rates.
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Finance Minister Arun Jaitley said that the demonetisation process is almost complete, hailing it as the "smoothest possible replacement" of high denomination currency anywhere in the world. Describing the government's decision to take Rs 500 and Rs 1,000 notes out of circulation as a move towards creating a "new normal" in India, the minister told an audience of students and academics at the prestigious London School of Economics that it would ultimately lead to far higher growth rates.
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