After announcing bank recapitalisation on Tuesday, Finance Minister Arun Jaitley on Wednesday declared that ruling Bharatiya Janata Party (BJP) was going to observe one year of demonetization on November 8 across the country as anti-black money day. Jaitley also underlined that the objective behind the demonetization move was 'not to confiscate money' from people, but to increase tax base and squeeze illegal transactions, counterfeit money, terror funding, cash transactions, and to increase digital transactions. Therefore, the party has decided that on November 8 we will celebrate anti-black money day. Delinking polls with the pan-India campaign, Jaitley said, "The party and the government feels the people are cleverer than you or me. Attacking the Congress, Jaitley said, "They had adequate opportunity to remain in power, and I cannot recall a single significant step that they ever took against black money.

Source: dna October 26, 2017 01:07 UTC