November 8, 2017 8:24 PM

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Goa CM terms demonetisation as biggest step to unearth black money

Goa chief minister Manohar Parrikar has termed demonetisation the biggest step to unearth black money through a single process. Speaking on the occasion of Anti Black Money Day at the BJP office in Panaji, Parrikar said price stabilisation, reduction in terror funding and identification of black money are the biggest benefits of the move.<br/><br/>Speaking to All India Radio, Parrikar added that there are tangible and intangible benefits of demonetisation. A general feeling of security among citizens and reduction in terror and left wing extremist activities, etc. are the unquantifiable benefits. <br/><br/>Parrikar clarified that the return of all banned currency to the system should not be mistaken for a failure to identify black money. In fact, chunks of this returned currency are under scrutiny and depositors or holders would have to clarify on the sources of income, or pay penalties for illegal holdings, investments, transactions, etc. <br/><br/>Parrikar termed the decision of demonetisation a bold one, as it was an unprecedented step that was welcomed by the people. He added, demonetisation was important in the beginning of India's digital age journey.

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