Finance Minister Arun Jaitley has said, the remonetisation process will not take a very long time and the Reserve Bank of India, RBI will be able to complete it soon.
Addressing a function in New Delhi today, Mr Jaitley said, India is taking bold decisions like implementation of demonetization and the Good and Srvice Tax, GST. Mr Jaitley hoped that Goods and Services Tax regime can be put into effect ideally from 1st of April next year.
Mr Jaitley said, once demonetization is complete, it will mark a new normal for India. The Minister said, long-term benefits are very clear after the implementation of demonetization even if people have to face short-term inconveniences. He said, such steps will equip the government to address the issue of black money and graft.
Mr Jaitley said, amongst the emerging economies, Indian economy is performing very well despite global economic challenges. On the issue of subsidy, the Finance Minister said, rationalization of subsidy resulted in significant benefits and it led to a large amount of savings. The Finance Minister said, three years ago, country's economy was regarded as fragile, however today it is one of the fastest growing economy.
Addressing a function in New Delhi today, Mr Jaitley said, India is taking bold decisions like implementation of demonetization and the Good and Srvice Tax, GST. Mr Jaitley hoped that Goods and Services Tax regime can be put into effect ideally from 1st of April next year.
Mr Jaitley said, once demonetization is complete, it will mark a new normal for India. The Minister said, long-term benefits are very clear after the implementation of demonetization even if people have to face short-term inconveniences. He said, such steps will equip the government to address the issue of black money and graft.
Mr Jaitley said, amongst the emerging economies, Indian economy is performing very well despite global economic challenges. On the issue of subsidy, the Finance Minister said, rationalization of subsidy resulted in significant benefits and it led to a large amount of savings. The Finance Minister said, three years ago, country's economy was regarded as fragile, however today it is one of the fastest growing economy.
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