Demonetization was morally, ethically correct step: Arun Jaitley

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As we celebrate the anniversary, there are some who are trying to observe it as a black day while some others are still figuring out what mistakes were made in its implementation or execution…

Every structural reform has side effects but it also boosts the economy. Undoubtedly, people will take some time to understand this transformation. If you recall even Dr Manmohan Singh was criticised initially by few members of his own party when he initiated reforms to open up the economy in 1991. The move of inviting FDI in India was also criticised initially. Similarly, demonetization is also a game-changer and will bring a big change in the economy of India. demonetization was a morally and ethically correct step. It led to an increase in digital transactions and increase in taxation across the nation. It helped us to change the cash-dominated economy, black money dominated economy and corruption dominated economy. Our government is trying to create transparency in the economy of India and I can see that there has been a directional change. You may discourage or appreciate the move, but the move has created a central stage that is calling for such changes in the economy of India.

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