 "Jaitley rubbishes demonetisation critics ahead of 50-day deadline")
Rubbishing critics, Union Finance Minister Arun Jaitley on Thursday said the effects of demonetisation were not as adverse as was predicted and asserted that there has been a sharp jump in tax collections and economic activity, including in winter crop sowing.
Ahead of expiry of the 50-day deadline for depositing the junked 500 and 1000 rupee notes on Friday, he said the remonetisation process has substantially advanced, significantly without a single incident of unrest anywhere in the country.
However, the finance minister refused to hazard a guess on the GDP growth for the year or the possible impact on tax proposals in the his Budget for 2017-18 on account of increased revenue collections.
Ahead of expiry of the 50-day deadline for depositing the junked 500 and 1000 rupee notes on Friday, he said the remonetisation process has substantially advanced, significantly without a single incident of unrest anywhere in the country.
However, the finance minister refused to hazard a guess on the GDP growth for the year or the possible impact on tax proposals in the his Budget for 2017-18 on account of increased revenue collections.