Arun Jaitley assails Manmohan Singh for calling demonetisation a ‘loot’
Finance minister Arun Jaitley says the demonetisation exercise was an ‘ethical drive and a moral step’ that made corruption difficult
New Delhi: Finance minister Arun Jaitley on Tuesday contested Congress leader Manmohan Singh for calling demonetisation an “organised loot”, insisting the exercise was an “ethical drive and a moral step” that made corruption difficult.
The loot is what happened in 2G scam, commonwealth games and allocation of coal blocks, whereas demonetisation was an economic exercise based on ethical and moral rationales, Jaitley told reporters here.
“An anti-black money drive is (an) ethical drive, a moral step. And what is morally and ethically correct has to be politically correct,” Jaitley said, targeting the former prime minister. Calling the demonetisation a “reckless” exercise, Manmohan Singh said during an interactive session with businessmen and traders in Ahmedabad that “demonetisation was an organised loot and legalised plunder”.
Demonetisation and the GST rollout have become major issues in the assembly elections for Gujarat and Himachal Pradesh, with the main opposition maintaining that the two structural reform measures had adversely affected the Indian economy.
The finance minister said while the 10 years of United Progressive Alliance (UPA) were characterised by “policy paralysis”, the Modi dispensation introducted structural reforms to make India a developed nation and give it a cleaner economy.
Jaitley said the BJP believes that status quo in economy needed to be shaken up to end corruption. Taking on the Congress over the issue, Jaitley said the previous Congress governments never took any such big step against black money.
“The Congress’ main aim is to serve the family whereas BJP wants to serve the nation.” Elaborating on the benefits of demonetisation, the minister said it was aimed at making India a more formal economy with a broader tax base and less cash in the system. “Less cash in the system may not end corruption but makes corruption difficult,” he said, adding terror funding got “squeezed” post-demonetisation.
- China finance ministry announces more tax cuts for small companies
- ‘Achche din’ a continuous process, says Piyush Goyal
- SC asks Kerala govt to provide security to two women who entered Sabarimala
- Delhi, Gurgaon air show presence of alarming levels of heavy metals: Report
- DGCA imposes restrictions on IndiGo, GoAir in operating P&W engines-powered A320 neo planes
Editor's Picks »
- What to expect from Q3 results of IndiGo, SpiceJet, Jet Airways
- Forget privatisation, govt has hugged its banks tighter
- Flat profit, rising debt are growing worries for Reliance
- Q3 results: HUL growth off a high base shows it’s on a roll
- DCB Bank Q3 results: Small loans give big pain as farm, mortgages lift delinquencies