Demonetisation impact transient: Arun Jaitley

FM Arun Jaitley says the demonetised economy will lead to the higher taxes and increased revenues of the government

GN Bureau | February 1, 2017


#Universal Basic Income   #Demonetisation   #Narendra Modi   #Arun Jaitley   #Budget 2017  


Finance minister Arun Jaitley today invoked Mahatama Gandhi to justify the hardships faced by common people due to Narendra Modi Government’s decision of demonetisation of Rs 1,000 and Rs 500 currency notes. “Right cause never fails,” he quoted the father of the nation while referring to this in his budget speech.

READ | Demonetisation: Fifty days and still shaking


He said the demonetisation was a ‘bold and decisive economic move’ by the government to combat tax evasion, which had become a way of life and created a parallel economy. He, however, said the impact of demonetisation was ‘transient’ and every care was taken to make sure it does not spill into the new-year.

A demonetised economy, he said, would not only improve the GDP and lead to the higher taxes and increased revenues of the government. This would eventually lead to decreased cost of borrowings and increased economic activity.
 

Comments

 

Other News

Battle over cattle, Delhi govt schools lead the way and, why we must return to Gandhi & Tagore

On May 23 this year, the ministry of environment issued ‘Rules on prevention of cruelty to animals (regulation of livestock market)’ with the purported aim of regulating animal markets. When one reads the rules – notwithstanding the lame efforts from union ministers to issue clarificati

BEML unveils 9 MW capacity windmill park

  BEML, a mini ratna category-1 enterprise of the defence ministry, has set a target of using 100 percent renewable energy for its own consumption.   In this connection, BEML’s 9 MW Windmill Park installed at Bagalkot District in Karnataka was recently

BHEL registers increase in intellectual capital

  Bharat Heavy Electricals Limited (BHEL), a Maharatna enterprise, has recorded nearly 14 percent growth in its intellectual capital in 2016-17 fiscal. During the year, a record 508 patents and copyrights were filed by the company, translating into filing of nearly two patents/copyrights

NALCO partners with CII, Odisha for outreach programmes on GST

  National Aluminium Company Limited (NALCO) has joined hands with the Confederation of Indian Industries (CII), Odisha, to organise outreach programmes for industries and other stakeholders on GST implementation.   Series of interactive programmes are being

EPFO inks MoU with HUDCO for Housing for All by 2022

  Taking prime minister Narendra Modi’s vision of ‘Housing for all by 2022’ forward, Employees` Provident Fund Organisation (EPFO) has amended the EPF Scheme, 1952 to provide assistance in acquiring affordable houses to the EPF members by allowing withdrawal from PF to

IndianOil LPG import terminal to reduce refill backlog in Kerala

IndianOil is currently transporting bulk LPG from Mangalore to various LPG bottling plants in north Kerala through about 100 bullet trucks every day, which ply on narrow highways. A pipeline connecting the proposed LPG import terminal to Kochi Refineries Limited and the LPG bottling plants at Udayamperoo



Video

पाकिस्तानी सेना कैमरे में कैद करना चाहती थी ये हमला

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter