India is ready to implement notes ban, said Arun Jaitley addressing the industry leaders at FICCI.
Finance Minister Arun Jaitley addressed the industry leaders at the FICCI's 89th Annual General Meeting.
Here are the highlights:- The Brexit vote surprised many people. The US elections also saw a lot of cynicism in vote.
- The world economy is definitely slowing down.
- It is necessary for countries to determine their own course themselves.
- Global trends are not helping the economy.
- If you look at India, it is a refreshing change.
- 3 years ago an economy regarded as part of fragile 5, today is regarded as one of the fastest growing major economies in the world.
- The passage of bankruptcy law was an important achievement this year.
- The government took a courageous step of high value currency ceasing to be a legal tender.
- India has the capacity to enforce these decisions and experiment boldly.
- There are several decisions which the GST council has to take.
- As far as decision with respect to currency is concerned, it marks an important beginning. This decision decides several other implications.
- Legislations which have to be passed by Parliament under constitutional amendment and state legislatures are currently in the process of being drafted.