Exclusive: Let the Opposition support black money, it suits us, says Finance Minister Arun Jaitley

Finance Minister Arun Jaitley, in an exclusive interview to News Nation, on Friday made some revelations on the Narendra Modi government’s decision to demonetise the high-value currency notes of Rs 500 and Rs 1000, a move which has drawn mixed reactions across the country.

The Finance Minister revealed that the printing process of the replacement money began six-months-ago. He also said that the decisions like this are taken on ‘need to know’ basis and that Reserve Bank of India (RBI), Finance Ministry, Prime Minister and handful of officials knew about it. 

On being asked whether the government is ready to face the Opposition, which is already criticising the move, may raise the demonetisation issue in Parliament, he said, “We are prepared to face the Opposition in Parliament if they raise it (demonetisation issue). If Opposition favours black money, it suits us.” 

When asked about the Income Tax department’s action in several cities, he said the IT raids were conducted on those who were buying Rs 1000 notes in Rs 400 despite the currency ban.

On the chaos and inconvenience faced by the common man he said, ”Only those who depend on black money are feeling troubled, for honest people, it is a welcome move.”

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Below are the excerpts from the interview:

#Who said black money is used in marriages? One can also use cheques to make payments. The demonetisation move has no relation with any event

#The replacement currency is being printed from last 6 months. Its confidentiality had to be maintained

#Each farmer in the country has a bank account. Under Jan Dhan Yojna, 98% of the families have bank account today. Poor people too have zero balance bank account

#Tax is not levied on farmers' income. Instead of keeping the money at home, they should deposit it in their accounts so that they can get interest

#The IT raids were conducted on those who were buying notes on discount, those who were buying Rs 1000 notes in Rs 400 despite ban

#If people will go against government's decision and decide to opt for black marketing, then it's natural that action will be taken

#People who earn crores of rupees and even if they deposit it into bank, they cannot escape the Income Tax rules

ALSO READ | It pays to be honest: Arun Jaitley on withdrawal of Rs 500 and 1,000 currency notes

#Only those who depend on black money are feeling troubled, for honest people, it is a welcome move

#We are prepared to face the Opposition in Parliament if they raise it. If Opposition will favour black money, it will suit us

#The aam aadmi is facing little inconvenience while standing in long queues, but he is still saying it clearly that this move is in favour of the nation

#The previous govt did nothing to curb black money

#Had this scheme (demonetisation) not been kept confidential, it would've been failed

#Such decisions are taken on 'need to know' basis. RBI, Finance Ministry and Prime Minister Office and handful of officials knew about it. Only three establishments were aware about the scheme

#Arvind Kejriwal has a habit of talking baseless things, I don't feel the need to reply him

#The issue of pollution must not be politicised. There should be joint-effort. It is an issue of citizens, it is not the issue of politics. We all should come forward to curb pollution

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