BJP wary as Ramdev insists on Banking Transaction Tax, demonetization of high-value currency notes

"We want that the BTT be introduced by amending the Constitution, and I hope Jaitley ji has got his answer", said Ramdev.

To this, Jaitley replied, if an equitable solution comes out, the party can definitely think over it.

The components of the new taxation structure  as demanded by Ramdev should include five to seven slabs of BTT ranging from 0.10 per cent to 30 per cent; demonetisation of the currency notes of Rs 500 and Rs 1,000 and just distribution of tax proceeds to centre, states and local bodies.

In the new scheme of things banking transaction tax would be levied on receiving transaction at different slabs on manufacturers of goods, service providers and traders, Ramdev said.

He also claimed that with implementation of this proposed tax structure the whole movement of money in the economy could be traceable.