New Delhi, November 7: Union Finance Minister Arun Jaitley speaking about Centre’s major decision to curb black money claimed that demonetisation was not a failure. Speaking at the India Today conclave, Jaitley said demonetisation is a move that should not be seen in isolation.
“We are conscious of the challenge that this is something to be done at the level of municipal bodies and even the local Panchayats, your land records are online and therefore, the introduction of these systems in goverance, the impact it would have on reducing the level of corruption and obviously, countributing to governance itself."
The Finance minister also said that data gives more appropriate analysis and thus, technology becomes the most powerful weapon in governance.
Prime Minister Narendra Modi had on November 8 last year announced the demonetisation of old Rs 500 and Rs 1,000 notes to combat corruption, black money, terrorism and fake currency.
Of the Rs 15.44 lakh crore worth of notes withdrawn from the circulation, Rs 15.28 lakh crore had been deposited back as on June 30, 2017. Currency worth Rs 17.77 lakh crore was in circulation on November 8 last year.