Arun Jaitley speaking on notes ban at the inauguration of FICCI's 89th Annual General Meeting.
The annual meet of industrial body, Federation of Indian Chambers of Commerce and Industry or FICCI, virtually turned into a political battleground with the government and the opposition trading charges over notes ban.
Union Finance Minister Arun Jaitley said demonetisation was "a somewhat courageous decision" and added it displayed that the government had "the capacity to take such decisions".
"One of the conclusion I have learnt is to take these trends, to take these steps, one needs to have clarity of direction, courage, broad shoulders and even the stamina to sustain these decisions, " said Mr Jaitley, adding "Therefore, once we have the stamina, notwithstanding fringe positions taken, even by national parties, one will always be able to implement extremely successfully."
Mr Jaitley, 63, said "long term benefits will outweigh the short term pain of these decisions."
Taking a dig at the previous Congress government, the Finance Minister said the decision of notes ban now marks the "new normal in India."
However, the Congress hit back saying the notes ban is "a fight against the Indian economy and not black money."
"You have made the cashless rich and the cardless poor," Congress' Anand Sharma said.
"Have you ever heard 57 notifications of RBI? It is like somebody not able to decide for days and days what to wear and what to eat," said Mr Sharma.
"Narrative is getting changed on a daily basis, quarterly basis. There's a joke that you go to toilet and you shout from inside, is there a new RBI circular or a new Finance Ministry notification? This is what you say great planning and clarity. God help us if this is the clarity of mind!!"