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2G scam was loot, note ban is morally correct: Jaitley to Manmohan

Manmohan Singh called demonetisation an organised loot, legalised plunder, also terming it as a reckless exercise

Press Trust of India  |  New Delhi 

File photo of Finance Minister Arun Jaitley.(Photo: PTI)
File photo of Finance Minister Arun Jaitley.(Photo: PTI)

Minister on Tuesday contested leader Manmohan Singh for calling demonetisation an "organised loot", insisting the exercise was an "ethical drive and a moral step" that made difficult.

The loot is what happened in 2G scam, Commonwealth games and allocation of coal blocks, whereas demonetisation was an economic exercise based on ethical and moral rationales, Jaitley told reporters here.

"An anti-drive is (an) ethical drive, a moral step. And what is morally and ethically correct has to be politically correct," the minister said, targeting the former prime minister.

Calling the note ban a "reckless" exercise, Manmohan Singh said during an interactive session with and in that "demonetisation was an organised loot and legalised plunder".

Demonetisation and roll-out have become major issues in the Assembly elections in and Himachal Pradesh, with the main opposition maintaining that the two structural reform measures had adversely affected the

The minister said while the 10 years of UPA government were characterised by "policy paralysis", the Modi dispensation introduced structural reforms to make India a developed nation and give it a cleaner

Jaitley said the believes that status quo in needed to be shaken up to end

Taking on the over the issue, Jaitley said the previous governments never took any such big step against

"The Congress' main aim is to serve the family whereas wants to serve the nation."

Elaborating on the benefits of demonetisation, the minister said it was aimed at making India a more formal economy with a broader tax base and less cash in the system.

"Less cash in the system may not end but makes corruption difficult," he said, adding terror funding got "squeezed" post-demonetisation.

First Published: Tue, November 07 2017. 17:48 IST