Demonetisation a crippling blow to terror, fake currency racket: Arun Jaitley

Jaitley claimed the government had complete clarity that demonetisation would act against the shadow economy and black money.

Demonetisation a crippling blow to terror, fake currency racket: Arun Jaitley

Calling demonetisation a 'historic and bold move', Finance Minister Arun Jaitley said the note ban closed the lifeline of terror funding and fake currency.

Presentencing the BJP’s economic resolution in the party national executive, the finance minister said demonetisation was a crippling blow to terror, fake currency note racket, and insurgency, Union minister Nirmala Sitharaman told Media.

"He (Jaitley) informed the party leaders how and why this demonetisation was different than the earlier ones. The entire executive unanimously agreed that it is a historic step," Nirmala Sitharaman was quoted in media reports as saying.


Meanwhile, Jaitley said, in a Facebook note that  the government had complete clarity that demonetisation would act against the shadow economy and black money.



"The Prime Minister’s decision to replace the high denominational currency and eventually demonetise it required both courage and stamina. The implementation of the decision carried pain. It can lead to short term criticism and inconveniences," he said.