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IndiaJaitley regrets inconvenience, terms political parties' comments irresponsible

Jaitley regrets inconvenience, terms political parties’ comments irresponsible


Jaitley regrets inconvenience, terms political parties' comments irresponsible

New Delhi, Nov12:  Amid rising anger among people across over exchanging the scrapped currency, Minister Arun Jaitley today regretted hardships caused due to withdrawal of high denomination notes but advised the public to be patient as the move will have larger benefits for the in long term.

He said it may take up to 3 weeks for all the 2 lakh cash vending ATMs to operate normally as each one has to be calibrated individually to dispense new sized notes of Rs 2000 and Rs 500 besides lower denomination currency of Rs 100.

Assuring that RBI and banks have stacked up enough currency to replace the Rs 14 lakh crore worth of Rs 1000/500 notes that have been declared invalid, he said the Government is constantly monitoring the situation as it is a “massive operation”.

As banks have been asked to remain open this weekend to cope with the rush, the Finance Ministry held a video- conference call with top RBI officials to assess the emerging situation and coordinate currency distribution across the country.

Finance Minister Arun Jaitley today rejected as “irresponsible” the criticism of political parties on the government's demonetisation drive, saying some people are having problem with the cleaning up of the system.

Jaitley also said that spurt in bank deposits in the July- September quarter, which Delhi Chief Minister Arvind Kejriwal attributed to selective leak of the drive to BJP friends, was on account of payment of 7th Pay Commission arrears to government employees.

“Different kinds of political reactions keep coming and some of them are even irresponsible. Some people have a problem with this attempt of cleaning up the political system,” he told reporters here.

Dismissing the suggestions that one week should have been given to people to adjust, he said this would have amounted to leaving everyone to go scot-free and “this gives the whole game away (of cleaning the system)”.

Kejriwal has dubbed the demonetisation of Rs 500 and Rs 1,000 currency notes a “huge scam” and alleged BJP had told all its “friends” about the move much before Prime Minister Narendra Modi's announcement.

He termed the Centre's decision as a “surgical strike” on common man's “small savings” and not on “black marketeers” and demanded its immediate roll back.

Congress spokesperson Kapil Sibal has described the demonetisation as another “jumla” (gimmick) for political reasons and suggested that BJP should make public all its expenses in upcoming polls in UP, and other states if it was serious about eliminating black money and corruption.

On Congress party's assertion that why should people stand in queue to get their own money back from banks, Jaitley said it is the right of the government to know whether the money has been legitimately earned.

“Whether you have paid tax on your money, people of the country and government have the right to know. Even on your own money, you have to pay tax and that is what we are trying to ensure. And this money has come through legitimate means or not, that also the country has a right to know,” the Finance Minister said.

The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

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