The government\u2019s decision to junk two high-value currency notes created a new normal that will help the Indian economy in the long run, finance minister Arun Jaitley said in his fourth and unique budget presentation on Wednesday.<\/p>\n
Speaking in the Lok Sabha, Jaitley said the government had replaced sluggish growth with high growth and launched a \u201cmassive war\u201d against illegal cash holdings.<\/p>\n
\u201cDemonetisation is a bold and decisive measure… It seeks to create a new normal wherein the GDP will be bigger, cleaner and real,\u201d the minister said.<\/p>\n
He said India was seen as an \u201cengine of global growth\u201d that witnessed \u201chistoric reform\u201d in the last one year in the form of demonetisation and the goods and services tax.<\/p>\n
\u201cOur government was elected amid huge expectation, the underlying theme being good governance. We thank the people for their support,\u201d Jaitley said.<\/p>\n
He said the effects of scrapping Rs 500 and Rs 1000 notes \u2013 such as a nationwide cash crunch wouldn\u2019t spill over into the next year and that the levels of injecting cash into the economy would soon reach \u201ccomfortable\u201d levels.<\/p>\n
\u201cWe are moving from informal to formal economy and the government is now seen as a trusted custodian of public money.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The government\u2019s decision to junk two high-value currency notes created a new normal that will help the Indian economy in the long run, finance minister Arun Jaitley said in his fourth and unique budget presentation on Wednesday. Speaking in the Lok Sabha, Jaitley said the government had replaced sluggish growth with high growth and launched […]<\/p>\n","protected":false},"author":2,"featured_media":58216,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,2],"tags":[3180,29889,29890,29891,29892,14256,29888,29893,10101,384,29894],"class_list":["post-58215","post","type-post","status-publish","format-standard","has-post-thumbnail","category-politicalnews","category-top-stories","tag-arun-jaitley","tag-arun-jaitley-calls-demonetisation-a-bold-and-decisive-measure","tag-arun-jaitley-in-budget-speech","tag-budget-speech","tag-clean-india","tag-demonetisation","tag-demonetisation-is-right-decisionfm","tag-energise","tag-lok-sabha","tag-speaker-sumitra-mahajan","tag-transform"],"jetpack_featured_media_url":"https:\/\/greattelangaana.com\/english\/wp-content\/uploads\/2017\/02\/1brk72aa.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/posts\/58215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/comments?post=58215"}],"version-history":[{"count":0,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/posts\/58215\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/media\/58216"}],"wp:attachment":[{"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/media?parent=58215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/categories?post=58215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/greattelangaana.com\/english\/wp-json\/wp\/v2\/tags?post=58215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}