Arun Jaitley declares Nov 8 as anti black money day

After announcing bank recapitalisation on Tuesday, Finance Minister Arun Jaitley on Wednesday declared that ruling Bharatiya Janata Party (BJP) was going to observe one year of demonetization on November 8 across the country as anti-black money day. Union Ministers, party leaders from states as well Centre and party functionaries will be touring the length and breath of the country to underscore the Modi government's moves against corrupt economy.

Jaitley also underlined that the objective behind the demonetization move was 'not to confiscate money' from people, but to increase tax base and squeeze illegal transactions, counterfeit money, terror funding, cash transactions, and to increase digital transactions.

"It has been a clear policy of the BJP, NDA and the Prime Minister that the black market economy in the country must be put to an end by progressive steps. Therefore, the party has decided that on November 8 we will celebrate anti-black money day. We shall be highlighting the moves taken by our government in this direction. It is a high-priority programme," he said.

Delinking polls with the pan-India campaign, Jaitley said, "The party and the government feels the people are cleverer than you or me. They have understood it (demonetization and GST) that is why they have been giving resounding support to the party in all elections. This is not a one-off campaign. It would continue to persist as part of the party's larger programme."

On Opposition Congress' year-long criticism, Jatiley said, "The Congress has not been able to understand the objectives behind demonetization." Attacking the Congress, Jaitley said, "They had adequate opportunity to remain in power, and I cannot recall a single significant step that they ever took against black money. They had reconciled to India living with a shadow economy. It is, therefore, clear that this would never be on the political agenda of the Congress."