Finance Minister Arun Jaitley addresses during an event in New Delhi. (Source: PTI)

Jaitley Says Demonetisation An Ethical, Not A Political, Move

Union Finance Minister Arun Jaitley defended demonetisation saying it was a ‘highly ethical’ move and not a political one.

His statement comes a day after Prime Minister Narendra Modi and Rahul Gandhi engaged in a war of words during the respective election rallies over the decision suddenly announced in November 2016 to junk a bulk of the currency in circulation.

“It was a highly ethical move,” Jaitley told reporters here in response to a query over demonetisation. “It was not a political move.”

Also read: Raghuram Rajan Says India’s Growth Held Back Due To Demonetisation, GST

Jaitley was speaking after releasing the BJP’s manifesto here ahead of the Nov. 28 Madhya Pradesh Assembly election. The minister said demonetisation has increased the tax return filings and also increased the revenue of state and central governments immensely.

Congress President Rahul Gandhi on Friday criticised the government over demonetisation, saying it was the “biggest scam” of India.

Addressing a rally in Ambikapur in Chhattisgarh ahead of the second phase of voting on Nov. 20, Modi claimed people did not have issues with demonetisation, but only a family.

The prime minister claimed the Congress was “worried” that he took away all the money its minions and friends had stashed under their beds and in sacks in one stroke.

Modi had said his government was investing the money recovered post-demonetisation on carrying out public works and funding welfare schemes.

Also read: Modi Printing Rs 3.6 Lakh Crore Would Be Worse Than Demonetisation