The aim of the government is to move towards an economy that uses ‘less cash’ and not necessarily ‘cashless’ is the word coming in from the Minister of State for Finance, Satosh Kumar Gangwar.
According to him, demonetisation will help this process of moving towards using less cash. The government, he says, could not print currency earlier because then the news would have leaked and defeated the main purpose. So far, according to his sources around Rs 25-30 crore notes are being printed on a daily basis.
From the time PM Modi announced the openings of Jan Dhan accounts with zero balance, the common man has moved towards banking and more than 25 crore accounts have been opened so far, says Gangwar.
Talking about the arguments in the Parliament over the demonetisation issue, Gangwar says the government is answerable, primarily, to the common man than the Opposition.
Since the time this government has come to power, the Prime Minister has said that the change will be not just in the post but there will be a change in administration and work, too. People can now clearly see for themselves the various changes made by the government in the last two and half years, says Gangwar in an interview to CNBC-TV18’s Shereen Bhan.
Giving assurance to people, he says the inconvenience of limited withdrawal will surely lessen after December 30.
For the full interview, watch video
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
