BJP to observe Nov 8 as 'Anti-Black Money Day'

Arun Jailtey Jaitley

Rs 2.11 lakh crore recapitalisation plan for PSU banks

According to media reports, during the press conference, Jaitley reiterated the government's defense stating that "Major objectives behind demonetisation are already achieved" and added the Union government has expanded digitisation and tax base across the country to make the country less reliant on cash.

Hitting at the Opposition, Jaitley said, "Congress had adequate opportunity to be in power, and I can't recollect a single significant step that they ever took against black money".

"The step that the finance minister has announced yesterday will certainly boost demand and investment as well as strengthen the banking system", Jalan told PTI in an interview. "If morality is still a virtue in India's polity, then it is time for PM Modi to introspect and demit office besides apologising for the unpardonable blunder", Sharma said.

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They said Modi should order an immediate investigation "into the demonetisation scam as also the loss to economy"."The PM remains in arrogant denial of the hardship inflicted on people of country by his reckless decision", Sharma said.

"There was a parallel black money economy in the country".

In a stimulus package aimed to boost flagging economic growth, create jobs and increase credit flow, the cabinet on Tuesday approved a Rs2.11 trillion recapitalisation plan for state-run banks and massive road infrastructure investment of almost Rs7 trillion over five years.

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Real GDP growth average is 7.5% in the last 3 years. The two Congress leaders said that a h=government that came to power on the promise of bringing black money of Rs 80 lakh crore and "depositing Rs 15 lakh in every Indian s account" stands exposed.

Jaitley had proclaimed that India's macro-economic fundamentals are very strong and reeled out economic indicators to support government contention that GDP growth slowdown has bottomed out and economy is turning around. "The government feels the economy should be a less cash economy, the opposition believes the economy should be cash dominated", he said.

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Incidentally, Parasakti was a film that was penned by DMK leader Karunanidhi, which had late Shivaji Ganesan in the lead role. He further added, "Notice to film makers: Law is coming, you can only make documentaries praising government's policies".

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