Union Finance Minister Arun Jaitley on Thursday accused the Opposition parties of inventing reasons to run away from the debate on demonetisation and took a swipe at former Prime Minister Manmohan Singh's criticism of the move, saying it is no surprise that he is unhappy as “maximum black money was generated” under his rule. He rejected Dr. Singh’s contention that GDP growth will plunge by 2 per cent.
''Demonetisation will have a positive impact on the economy over medium to long term as the money from shadow economy will find its way into the mainstream. Those who did not consider the generation of so much black money and scams during their regime as blunder are now finding the crusade against black money as blunder,” he said.
As the Rajya Sabha was repeatedly adjourned, with the Opposition insisting that the Prime Minister be present during the entire debate, Mr. Jaitley said the Opposition was keen only on disruption and not on debate.
“The government position is very clear from the day one that we are ready for the debate.... The Opposition was finding excuses to avoid discussion but today morning they were taken by surprise when we announced that the Prime Minister will participate in the debate. Now they are inventing and manufacturing reasons to escape the debate,” Mr. Jaitley told reporters.
Lashing out at the previous UPA government, Mr. Jaitley alleged that “the maximum black money was generated during the 2004-14 as well as the period was engulfed in various scams like 2G and coal scam“.
“We are not surprise that they did not like the anti-black money measures the government has taken...Those who did not consider the generation of so much black money and scams during their regime as blunder are now finding the crusade against black money as a blunder,” he said.
The measure would increase the lending capacity of banks, which could extend the money to farmers, social sector and also industry.
Seeking to bring out a contrast between the UPA and the current NDA regimes, he said the previous government had “policy paralysis” and thus, could not take “tough decision” unlike the Modi dispensation.
On an allegation that some BJP leaders were aware of the move, while he (Mr. Jaitley) was not kept in the loop, the Finance Minister said, “This decision was kept a secret. The people who needed to know, knew [about it].. the allegation is already contradictory that the information was known to some BJP members as though I was not a BJP member.”
Mr. Jaitley also rejected the accusation that RBI governor Urjit Patel did not address the media after the announcement of the scheme, saying the “office is for people who are supposed to perform and not come out in front of the camera''.
The government had taken the “right steps” and was implementing it in the “right manner” and would defend it, he said.
Mr. Jaitley rejected the demand for a joint parliamentart committee probe by some Opposition parties, saying there should be some “evidence” or “blame” for initiating such investigation.
