Demonetisation: Govt. to declare changes on exemption later today

Union Minister for Finance Arun Jaitley on Thursday said that the government would by this evening put forth the final decision on whether the exemption on use of Rs. 500 and Rs. 1,000 notes will be extended or not.

"Decision that will be applicable from tonight will be communicated later in the day today that if exemption on use of Rs. 500 and 1,000 notes will be extended," said Jaitley.

Earlier in the day, Congress demanded the ruling dispensation to revoke the limit imposed on withdrawal.

Congress leader Anand Sharma accused Prime Minister Narendra Modi-led government of wrecking the nation's banking system.

"The Narendra Modi government has broken trust of the people and has wrecked the banking system of the nation. Our demand is that the Centre should revoke the withdrawal limit and free the people from inconvenience. And if this limit over withdrawal continues then our allegations that the Centre benefitted few people and put the rest of the nation in inconvenience," said Sharma.

Ridiculing the government for weak implementation of demonetisation, Sharma said the Prime Minister has banned high denomination notes without any proper litigation.

Both the Houses of Parliament were adjourned for the day today on demonetisation issue. The Rajya Sabha resumed discussion on scrapping of high value currency notes in the presence of Prime Minister Modi in the pre-lunch session.

However, it could not carry out the same in the post-lunch session due to Congress members insisting Prime Minister Modi's presence throughout the debate. Later, they trooped into well of the House raising slogans which forced adjournment of the House.