Demonetization broke backbone of Terrorism and Maoism in country; Jaitley lashed opposition in Parliament
 Source : NewsBharati  Date : 02-Aug-2017

New Delhi, August 2: Finance Minister Arun Jaitley yesterday thrashed opposition over demonetisation’s effect on economy and said demonetization has led to squeezing of terror as well as maoist funds in country.

 

Replying to a debate on the Supplementary Demands for Grants, Arun Jaitley said, demonetisation has hit terror funding and reduced the incidents of stone pelting in the Kashmir valley.

 

"In 2008 to 2010 we saw thousands of stone pelters on streets. In last few months, there have not been more than 25-50 or 100 stone pelters on the streets. There is one reason, terror funding has been squeezed," said Jaitley in the Lok Sabha.

Initiating the discussion, K C Venugopal of Congress alleged that demonetisation has failed to bring the desired results. He said demonetisation and hasty implementation of GST has destroyed the economy.

Finance Minister said as a result of demonetisation, terrorists were forced to rob banks for money, and Uttar Pradesh resident Sandeep Sharma, who was arrested for being a member of an LeT module in south Kashmir, was a welder and thus used to break open bank lockers.

Jaitley also said, demonetisation has also impacted the naxal activities in left wing extremism affected areas. He said, the government has initiated action against those stashing black money abroad.

On the members’ queries about quantum of money deposited in banks post demonetisation, Jaitley said, as soon as RBI completes counting process, a figure will be put in the public domain. He said, the last tranche of deposited currencies has just reached RBI in July.

He rejected the opposition charges that the country’s growth rate was affected by demonetisation adding that it posted 7.1 percent growth rate which is the highest among the big economies. He said, the government has maintained fiscal discipline and brought fiscal deficit to 3.2 percent this year, which was 4.6 percent in 2014.