Arun Jaitley thanked people for supporting demonetisation.
New Delhi:
Arun Jaitley thanks people for supporting demonetisation.
Here are the highlights of his speech:
Here are the highlights of his speech:
- Remonetisation has substantially advanced; not a single incident of unrest reported.
- RBI has very large currency available; large part of currency replaced and more notes of Rs 500 being released.
- More currency being re-circulated and ability of banks to lend has increased.
- Till December 19, direct tax mop-up has risen 14.4 per cent, indirect tax grows 26.2 per cent; central excise up 43.3 per cent and Customs rose 6 per cent.
- Life insurance business up, petroleum consumption increased and so are tourism and investments in mutual funds.
- We are extremely grateful to the people of India who supported demonetisation move.
- The net increase seen on direct taxes is 13.6 per cent.
- The Rabi crop sowing is 6.3 per cent higher as compared to last year.
- Large benefits of demonetisation are visible, what is in banks is identifiable impact on tax collection already visible.
- Notwithstanding what critiques predicted, in all segments there has been significant increase in indirect taxes.
- Critical part of remonetisation is now behind us, it will be much better, going forward.
- Critics proved wrong. There could have been adverse impact of demonetisatin on GDP for quarter or so, but it is not as bad as predicted.
Track Latest News Live on NDTV.com and get news updates from India and around the world
