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Demonetisation made possible due to PM Modi's strong political

Press Trust of India  |  Chandigarh 

Chief Minister Manohar Lal Khattar today hailed the decision and said this was made possible due to the political will of Prime Minister Modi.

Addressing a seminar here to mark the first anniversary of demonetisation, he said the fight against blackmoney and corruption would continue.

Even 'benami' property fall in the category of blackmoney as it was earned through unfair means, Khattar said.

"Though implementation of any reform without any intimation could initially make people feel uneasy but it proves to be useful in the long run," he was quoted as saying in an official release.

"Corruption is a worldwide phenomenon.... but it is cannot be rooted out in a single day. Even after 70 years of Independence, the value of our currency is not good compared to and this is due to the lack of a proper system," Khattar said.

"Post-demonetization, the incidents of stone-pelting in have declined by 75 per cent and the incidents of Naxal violence by 20 per cent.

"Apart from this, the number of tax payers has increased by 26.5 per cent and e-filing of returns have increased by 28 per cent. Digital transactions in 2016 which aggregated Rs 87 crore, had increased to Rs 138 crore in 2017-18," he said.

"Similarly, the number of Point of Sale devices has increased from 15 lakh to Rs 28 lakh in one year," Khattar said.

On the occasion, Chandigarh BJP president Sanjay Tandon said was a widely accepted decision.

"We are heading towards minimizing cash transactions and this is being monitored on quarterly basis," he said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, November 08 2017. 23:22 IST