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Remonetization will not take very long time: Arun Jaitley

ProMASS: DEC 17,2016:  Finance Minister Arun Jaitley has said the remonetisation process will not take a very long time and the Reserve Bank of India will be able to complete it soon. Addressing a function in New Delhi this morning, Mr Jaitley said, India is taking bold decisions like implementation of demonetization and the GST.Mr Jaitley said, once demonetization is complete, it will mark a new normal for India. He said long-term benefits are very clear after the implementation of demonetization even if people have to face short-term inconveniences.

said, such steps will equip the government to address the issue of black money and graft. The Minister said, amongst the emerging economies, Indian economy is performing very well despite global economic challenges. The Finance Minister said, three years ago, country’s economy was regarded as fragile, however today it is one of the fastest growing economy. Mr. Jaitley hoped that Goods and Services Tax regime can be put into effect ideally starting from April 1 next year.

Courtesy: AIR NEWS

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