Arun Jaitley on Demonetisation: Noteban helped squeeze terror funding, identify shell companies

With one day left to mark the first anniversary of denometisation, Finance Minister Arun Jaitley said on Tuesday that the demonetisation exercise undertaken a year ago would be remembered as a "watershed moment" in the history of the Indian economy.

Addressing a press conference, just a day before the first anniversary of demonetisation, Jaitley said that the announcement of the note ban was a watershed moment in India's economy. He said that it was important that the government remained undaunted of the criticism, because it was natural for people to be skeptical of new things. 

In a blog post on Facebook, Jaitley said the NDA government had taken a number of steps since the start of its tenure to weed out black money and demonetisation was a culmination of those efforts.

Here are the live updates 

#Due process will be followed on Paradise Papers: Arun Jaitley

Finance Minister Arun Jaitley said that the due process under the Income Tax act will be followed in the revelations made under Paradise Papers. 

# Next generation will get honest system to live in: Arun Jaitley on demonetisation 

Describing demonetisation as a watershed moment in the country's economic history, Jaitley said the move has met its objective of reducing cash in the economy, ending anonymity of cash, bringing in more individuals in the tax net and dealing a body blow to black money. 

#All that Dr Singh has to do is to compare global credibility of Indian economy pre 2014 and post 2014: FM Arun Jaitley

#Terror funding was squeezed because of denometisation, shell companies also being easily identified: FM Jaitley

# Next generation will get honest system to live in: Arun Jaitley on demonetisation 

Describing demonetisation as a watershed moment in the country's economic history, Jaitley said the move has met its objective of reducing cash in the economy, ending anonymity of cash, bringing in more individuals in the tax net and dealing a body blow to black money. 

# Congress objective to serve one family: Arun Jaitley

"Under the Congress regime, the aim has been to serve just one family. The economy suffered a massive loot under UPA in various scams. This is why Congress' views on ethics and morals are different from ours. Their opposition is understandable," Jaitley said taking a dig at the Congress.