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India can no longer live with black money, says Arun Jaitley

Currently reading: India can no longer live with black money, says Arun Jaitley
India TV Politics Desk, New Delhi [Published on:16 Nov 2016, 15:14:04]

With opposition ganging up over demonetisation of Rs 500 and Rs 1,000 rupee notes, Finance Minister Arun Jaitley has changed his Facebook cover photo which states that ‘India can no longer live with black money’. 

Integrity and ethical conduct are pre-requisites for the country's development, he states. 

"India cannot afford to live with black money any longer. Honesty, integrity and ethical conduct are requirements of India's development," said Jaitley's Facebook cover photo. 

The government has been maintaining that the move was needed to eliminate black money, counterfeit notes and terror financing. 

Prime Minister Narendra Modi had on November 8 announced demonetisation of high value currency notes and asked holders of such notes to deposit them in banks by December 30. 

India Tv - Screenshot of Arun Jaitley's FB post

Since then, seemingly unending queues of people trying to deposit and exchange their scrapped currency notes are being witnesses in front of banks and post offices. 

Initiating the debate on demonetisation in the Rajya Sabha, Congress leader Anand Sharma said the "ill-timed" and "ill-conceived" move had unleashed "economic anarchy" in the country and benefited a few. 

With PTI Inputs

Union Finance Minister Arun Jaitley - India Tv
Union Finance Minister Arun Jaitley