Nation Current Affairs 18 Dec 2016 Even if India goes 1 ...

Even if India goes 15-20% cashless, it will be achievement: minister

PTI
Published Dec 18, 2016, 11:41 am IST
Updated Dec 18, 2016, 4:12 pm IST
He said cashless transactions will be an effective way to attain transparency, even if 20% of transactions were to take place sans cash.
Finance minister Arun Jaitley accompany his new deputies — Santosh Kumar Gangwar (centre) and Arjun Ram Meghwal (left) — as they proceed to the ministry to take charge as ministers of state for finance in New Delhi on Wednesday. (Photo: PTI)
 Finance minister Arun Jaitley accompany his new deputies — Santosh Kumar Gangwar (centre) and Arjun Ram Meghwal (left) — as they proceed to the ministry to take charge as ministers of state for finance in New Delhi on Wednesday. (Photo: PTI)

New Delhi: Union Minister Santosh Kumar Gangwar has said the government never talked of going 100 percent cashless, but even if the country achieves 15-20 per cent success in going cashless it will be a big achievement.

He said cashless transactions will be an effective way to attain transparency, even if one-fifth of transactions were to take place sans cash.

 

Seeking to address those who have raised concerns on demonetisation, the Minister of State for Finance told PTI, "There is facility of cashless transactions in many countries. It's happening there. We have never said we will go 100 percent cashless. But even if we achieve 15-20 per cent success in going cashless it will be a big achievement because it's transparent and effective."

Asked his reaction on arguments put forth by some economists that demonetisation will adversely impact the economy, he said these are their "personal opinions".

 

"I don't speak on some economists' views. I speak for the government. And this decision has been taken by the government to fight corruption and black money," he said.

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Location: India, Delhi, New Delhi




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