The Union Finance Minister Arun Jaitley on Decmber 29 thanked the people for supporting demonetisation and said that the remonetisation process has substantially advanced and not a single report of unrest has been reported.
He said,”Remonetisation has advanced, not even a single incident of unrest reported.Things will be better than what they were in last 6 weeks or so.”
Jaitley also said that the Reserve Bank Of India has large amount of new currency available and more numbers of Rs 500 notes are getting printed so that the inconvenience caused to the people be reduced adding that a large part of demonetised currency have been replaced.
Jaitley slammed the opposition for their criticism towards demoentisation and also talked about the significant increase in indirect taxes. He said,”Till 30 November increase of 26.2% in central indirect tax;including increase of 43.5% in excise duty,25.7% in service tax,5.6% in custom duty.”
He mentioned the rise in Rabi crop sowing by 6.3 percent in last year’s comparison. He also stated that the Life Insurance business has moved up, petroleum consumption has increased and same goes in tourism sector.
Speaking about the impact of demonetisation on Gross Domestic Product (GDP) of the nation, Jaitley said that it would not be as bad as predicted by the critics.
