The animal markets are meant for farmers and not for traders, he said, adding that "this is the only effect of the notification".
Last week the Environment Ministry notified the stringent 'Prevention of Cruelty to Animals (Regulation of Livestock Markets) Rules, 2017, under the Prevention of Cruelty to Animals Act, banning sale and purchase of cattle from animal markets for slaughter.
Jaitley said the existing laws are continuing and the notification has "nothing to do with state legislations" with regard to slaughter of cattle.
Prohibition of cow slaughter mentioned in Article 48 of the Constitution is not an enforceable article, but a Directive Principles of State Policy and mandates that the states has to bring laws to ban cow slaughter.