Nation heading towards cashless economy post demonetisation: Rathore

Asserting that the government is ready for debate on the demonetisation issue in Parliament, Minister of State for Information and Broadcasting Minister Rajyavardhan Singh Rathore on Saturday said that the Centre is driving the country towards a cashless economy.

"We are driving the country into cashless economy and emphasis is on the usage of plastic money as it is simple as well as secure but still there is a hesitation regarding the usage of plastic money among people," he said.

Speaking on the continuous logjam in Parliament over the demonetisation issue, Rathore said, "It has been asserted by the Prime Minister and Finance Minister that the government is open for any debate on demonetisation and we are ready to accept if there is any positive correction with regard to its implementation."

"If most of the economy is in white money then size of the economy will increase and money will be in the system or it will be diverted towards poor. It will also impact the interest rates for loans," he added.

Rathore further said that there is a need to highlight initiatives like the 'each one, teach one' to make the people aware about the benefits of plastic money.

Defending the Centre's decision, Prime Minister Modi yesterday said the demonetisation move had empowered the common man in the fight against black money, while taking a swing at the opposition and critics saying they were flustered as they were caught off guard.

"Those criticizing the demonetisation move don't have problem with government's preparedness; they have problem that they didn't get time to prepare," the Prime Minister said.

"The common citizen of India has become a soldier against corruption and black money," he added while stressing on the need for India to move towards a cashless economy.