New Delhi: Union finance minister Arun Jaitely on Monday said that the Reserve Bank of India (RBI) will soon inject significant amount of liquidity into the system.

“Despite transient problems, we are rapidly remonetising. RBI to inject significant amount of currency in coming days. Taxes to be recovered at much higher rates now; agencies watching unscrupulous elements who will pay a heavy price," said Jaitley, as quoted by PTI.

Jaitley also defended his government over the demonetisation drive and instead blamed the Congress Party for ignoring the issue of black money and corruption.

“Congress did not take a single step against corruption or black money in 10 years. Corruption, scams peaked during UPA, given its scandalous record, it is not surprising Congress is uncomfortable with NDA campaign. In 2004-14, high denomination currency increased to 80% from 36% of total currency. Our strategy is to move to a low cash economy," he added.

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