NDA, op­po­si­tion spar on sec­ond an­niver­sary of de­mon­e­ti­za­tion

Mint ST - - VIEWS - MINT GRAPHITI —Man­mo­han Singh For­mer prime min­is­ter —Anand Sharma Congress leader and for­mer Union min­is­ter

While Jait­ley says note ban made tax eva­sion harder, Man­mo­han warns govt against unortho­dox moves

thought and care,” Singh said. He added that the econ­omy con­tin­ues to strug­gle to cre­ate enough jobs for the youth.

Ex­perts said it may be too early for the last word on de­mon­e­ti­za­tion’s out­comes. “Costs of de­mon­e­ti­za­tion are of short term and have been doc­u­mented. The ben­e­fits, how­ever, lie in the medium to long term. We have al­ready seen some of the pos­i­tive re­sults such as a wider tax base and for­mal­iza­tion of the econ­omy,” said N.R. Bhanu­murthy, pro­fes­sor at the Na­tional In­sti­tute of Pub­lic Fi­nance and Pol­icy.

Jait­ley said in a Face­book post that de­mon­e­ti­za­tion was a key step in a chain of de­ci­sions taken to for­mal­ize the econ­omy, which has added more di­rect and in­di­rect tax­pay­ers and made tax eva­sion harder. Dig­i­ti­za­tion, fi­nan­cial in­clu­sion and leak-proof di­rect trans­fer of state ben­e­fits to cit­i­zens are also part of the key mea­sures taken, the post said.

Jait­ley said the cur­rency ban led to cash hold­ers de­posit­ing cash in banks, greater lend­ing ca­pac­ity for banks, more tax fil­ers and higher tax re­ceipts.

Congress party leader Anand Sharma, how­ever, at­trib­uted the ad­di­tion in tax­pay­ers to the Sev­enth Pay Com­mis­sion award to govern­ment work­ers. Sharma asked if Prime Min­is­ter Naren­dra Modi was ready to apol­o­gize to the na­tion.

@Arvin­d­ke­jri­wal

De­mon­eti­sa­tion was a self in­flicted deep wound on In­dian econ­omy which even two years later re­mains a mys­tery why the coun­try was pushed into such a dis­as­ter ?

@Pchi­dambaram_in

Mr. Trump’s im­pe­rial pres­i­dency was con­vert­ing Amer­ica into an il­lib­eral democ­racy. The peo­ple have voted to re­store checks and bal­ance.thereisa les­son for In­dia

@BSYBJP

Weare­op­pos­ingtipu Jayanti cel­e­bra­tion. No­body will ap­pre­ci­ate this cel­e­bra­tion. In the in­ter­est of the state, state govt must stop it.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.