Note ban is new normal, Last 70 years of normal wasn’t right: Arun Jaitley

Defence Minister Arun Jaitley to visit Russia visit to strengthen bilateral defence ties.

New Delhi, Dec 17: Finance Minister Arun Jaitley on Saturday once again defended the government’s demonetisation policy at FICCI’s 89th Annual General Meeting.

Highlights from his address:

* “Digital currency has supplemented cash transactions remarkably in past 5 weeks.”

* “The whole process of remonetisation is not going to take a long time.”

* Note ban is new normal. Last 70 years of normal wasn’t right.”

* “India is now widely recognized as one of the fastest growing economies globally.”

* This year is unusual for the world due to slowing growth, growing protectionism.”

* “On 16 September 2017, as far as current mode of taxation is concerned, the curtains will be down.”

* “Having passed the constitutional amendment, there are several decisions which the GST Council has to take. I don’t see any major difficulty in those legislations being finally approved”

* “The process of remonetisation is not going to take a lot of time.”

* “Government took a courageous step on Demonetisation.”

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