Union Finance Minister Arun Jaitley has said, replacing 86 per cent of the currency in circulation with new notes could not have been executed in a better way than currently being done. Mr Jaitley said this at a function in New Delhi yesterday. He said, replacing such a large currency without any social unrest and any significant economic disruption was an achievement. The Minister said, currency replacement is moving smoothly and queues are getting smaller every day. He said, the government has to make sure the currency reaches rural areas in the next 1 or 2 weeks because that is where it's required. Mr Jaitley also said, demonetisation will help banks lend at a cheaper rate to businesses, trade, agriculture and infrastructure while at the same time getting rid of the shadow economy.
News On AIR | November 20, 2016 8:15 AM
Replacing 86% currency notes with new ones could not have been executed in better way than currently being done: FM