BJP to observe 8th November as anti-black money day

Posted October 26, 2017

The Congress on Wednesday hit out at the BJP over its move to observe November 8 as "anti-black money day", calling it a "desperate move" to divert attention from the "blunder" of demonetisation and demanded that Prime Minister Narendra Modi demit office on moral grounds.

At a press conference on Tuesday, the finance minister had said, "It is for the first time in history that continuously for 3 years India's economy has been one of the fastest growing in world". "The Finance Minister should have used the words before understanding it", he added.

"Not the confiscation of money but squeezing the quantum of cash was the objective of demonetisation", Jaitley said, in an apparent referance to allegations that the demonetisation drive failed to curb illicit cash in the country. The government has also approved a bank recapitalisation programme amounting to Rs 2.11 trillion over the next two years to boost growth and investment, Jaitley had said. Taking a dig at BJP chief Amit Shah, Sharma asked whether Amit Shah's son Jay Shah would find a place in this celebration.

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Sharma accused Jaitley of giving people an untrue picture on the state of the country's economy and alleged the government lacked a plan to put the economy on back on track.

In a stimulus package aimed to boost flagging economic growth, create jobs and increase credit flow, the cabinet on Tuesday approved a Rs2.11 trillion recapitalisation plan for state-run banks and massive road infrastructure investment of almost Rs7 trillion over five years. Pointing out that the GDP growth slowdown has bottomed out and the economy is turning around, Garg said the International Monetary Fund had recently projected that the country would achieve an 8 percent growth rate soon. Surjewala said the truth is that the biggest increase in digital transactions happened during the Congress rule, when it rose by 53 and 49 per cent during 2012 to 2013 and 2013-14.