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Demonetisation was a 'highly ethical' move, not political: Arun Jaitley

  •   Sat, Nov 17 2018 03:18:21 PM

Bhopal, Nov 17 (PTI): Union Finance Minister Arun Jaitley on Saturday 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 in response to a query over demonetisation. "It was not a political move."

Jaitley was speaking after releasing the BJP's manifesto here ahead of the November 28 Madhya Pradesh Assembly election.

The minister said demonetisation has increased the tax return filings and also increased the revenue of the states and the Centre 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 November 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.
  

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Comment on this article

  • SMR, Karkala

    Sat, Nov 17 2018

    For the BJP and its Union Finance Minister Arun Jaitley 'Demonetisation' was a 'highly ethical' move Mr Modi is determined not to concede the folly of demonetisation, which cost 200 lives, at least 1.5m jobs and left 150 million people without pay for weeks.

    For the PM Modi's mistake, 2 years later, India’s central bank is still counting and counting and counting. At the same time in a reply to RTI, Bank with Amit Shah as Director collected the highest amount of banned notes among Coop banks.

    Interestingly, RTI query finds RBI not using machines for counting banned notes, no detail on the number of staff deployed. Now Swadeshi Jagaran Manch RSS economic wings want 3.5 lakh crores from the RBI treasury for 'Acche Din' of 2019.
    Mr.Jaitley who represented the Uninor Carbide owners in 'Bhopal gas' tragedy in which death between 8,000 and 10,000 and caused 5,58,125 injuries that included approximately 3,900 severely and permanently disabling injuries the values of lives of 'Indian' is least significant.

    1. Is Jaitley will ever learn from the departed soul of late Union Minister Anantha Kumar?
    2. How long BJP is going to play with the lives of poor Indians?
    3. Why the PM Modi government is not reluctant to table the success in Parliament and have the Joint parliamentary review?
    4. How is the central government is going to compensate the job losses, closure of small and medium industries and life of Indians?
    5. Why even after two years of RBI is still counting the banned currency and not having any final figures?
    6. In Goa meet, PM Modi has asked for 50 days to correct the mess. Is he still eligible to hold the office despite losses to India's economy and deaths?
    Jai Hind

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  • David Pais, Mangalore

    Sat, Nov 17 2018

    demonetisation looted da people & da banks.

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  • CDS, Mangalore

    Sat, Nov 17 2018

    Demonetisation broke the backbone of Indian Economy. It was a disastrous method applied. It was a highly "UNETHICAL". This shows a Lawyer cannot be an Economist at all.

    DisAgree [1] Agree [3] Reply Report Abuse

  • mahesh, mangalore

    Sat, Nov 17 2018

    the only persons affected by the demonetization in the long run were the people with black money.

    DisAgree [1] Agree [1] Reply Report Abuse

  • Valerian Menezes, Kota

    Sat, Nov 17 2018

    Yes. Demonetisation is an "ethical move" and "disrupting parliament is a legitimate act in a democracy"...,, these are the very wise words from a silver tongued lawyer turned economist......golden words (?).

    DisAgree Agree [1] Reply Report Abuse

  • Swamy, Mangalore

    Sat, Nov 17 2018

    This Demonetization wasn't the first India experienced since independence. There were several demonetisations by congress but people didn't even feel it's effects. It was done so smoothly and banks automatically exchanged the old notes with new ones as it came back to them. But this Demonetisation by BJP was one of a kind organized loot. People were physically brought out to the bank to declare and disclose thier assets irrespective of thier holding all white which is against the normal process of demonetization. All BJP people were exempted from this excercise and were given clean chit with all thier money converted to white overnight without question for example Jay Shah. Total black money collected so far, money took away by defaulters etc to name a few. Is this not political ????. Is this not unethical????.

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  • kumara, abu dhabi

    Sat, Nov 17 2018

    many were not paying taxes are made to pay,,many had different incomes are caught now,,,land dealers have become less, one by one things are happening, another 10 years we should be on track for growth and prosperity, until then burnol....

    DisAgree [2] Agree Reply Report Abuse

  • Ronald D, Udupi

    Sat, Nov 17 2018

    It was a good move on paper! Badly backfired due to poor implementation by unprofessionals on the job!!

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  • Rakesh, Mangalore

    Sat, Nov 17 2018

    Chaiwala PM and Lawyer turned FM taking India backwards with their exclusive 'Pakodanomics'
    Government for display is in Delhi and the Governance and decision making is from Nagpur.
    Building Statue of Unity with Public Money and supporting for the lynching and riots.
    Even after two years from Demonetization still RBI is busy in counting and exchanging the remaining old notes from backdoor.
    Demonetization was Ethical and this is why new 2000RS notes reached to brokers engaged in exchange for percentage than to Banks.
    Entire FEKU Govt and Nagpur Administration doesn't have any clue about where Indian Economy is heading.
    Completely blind about the core issues like unemployment, increasing rapes & lynching, farmers suicide .
    Using Cow, Ram Mandir, Tripple Talak, & Shabarimala Temple for vote bank Politics where as PM himself abandoned his own wife and preaching Beti Bachavo.

    Paid Media and Andh Bhakt busy in marketing of hopeless FEKU Govt. God only save India from these Thugs,

    DisAgree [1] Agree [18] Reply Report Abuse

  • N.M, Mangalore

    Sat, Nov 17 2018

    BJP leaders managed to convert their Black into White.

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  • geoffrey, hat hill

    Sat, Nov 17 2018

    But the consequences ensued out this so called 'ethical' move were grossly 'unethical'

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  • ca girishkk, m'love/dxb

    Sat, Nov 17 2018

    Demonitization is the terminology used to help the crony capitalist to re-cycle their money..,
    When RBI/Govt claiming that 99.8% came back means it is hard to believe.....!!!! there is still massive amount of old currency not tendered back ..., but govt/RBI claiming that all have come back means the crony capitalists..., are recycled it with the help of bank's...,

    Lord BRAHMA knows..., any normal right thinking REAL Hindu's believe in govt's version without taking note of hard ship caused to the poor people.., definitely the law of natural justice will take care of such views and it will never go un-punished...by eternal justice, if not in present generation...,

    jh
    jai hind..,

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  • HENRY MISQUITH, Bahrain

    Sat, Nov 17 2018

    International media calls it "an epic failure". That is exactly what it is. Demonetization is an utter failure which is a fact. Some yes men and some out of fear of this present government argue otherwise. Shame on Jootly and Feku Co.

    DisAgree [1] Agree [26] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Sat, Nov 17 2018

    Entire Gujarat changed their Black Money to White while 125 people lost their lives ...

    DisAgree [1] Agree [27] Reply Report Abuse

  • Sahil, Mangaluru

    Sat, Nov 17 2018

    Please go ahead second round as well .I mean to say ban 2000 rs and 500 rs at the earliest to convert in to more ethical manner.

    DisAgree [1] Agree [18] Reply Report Abuse


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