July 22, 2017: Finance Minister Arun Jaitley today said demonetization helped in curbing round tripping of corrupt and black money.
Speaking at the Delhi Economics Conclave-2017 in New Delhi, Finance Minister said, demonetization will lead to greater digitization.
Mr Jaitley said, impact of digitization is visible in indirect and direct tax system. He said implementation of GST will bring more transparency in taxation process. He said, for 70 years, Indian democracy was funded by invisible money. But, now the government is working on tracking invisible economy.
Finance Minister said Centre is committed to check flow of black money and also the leakages. Mr Jaitley said recent decisions in economic sector will have a substantial impact on India’s growth prospects.
In his inaugural Address, Deputy Prime Minister of Singapore Tharman Shanmugaratnam, said India is making right strides in key areas even though its long way to go. He said, need of the hour is to build political support for good economics.
Mr Shanmugaratnam said India should increase its efforts towards increasing employment for its young population. He said India’s momentum and pace of growth is impressive. He also pitched for empowering the cities for better growth. (AIR NEWS)
