Budget focuses on demonetisation; Jaitley calls it bold, decisive measure

Jaitley assured that effects of demonetisation are not expected to spill over to the next year

The Union Budget 2017-18 laid major emphasis on the demonetisation with Finance Minister Arun Jaitley calling it a bold and decisive measure.

Jaitley said that the government took two tectonic policy initiatives - passage of Goods and Service Tax  Bill and demonetisation.

"Demonetisation was a continuation of series of measures taken by the government in two years. It is bold and decisive measure."

On November 8, 2016 in a surprise announcement Prime Minister Narendra Modi said that the old Rs 500 and 1,000 notes will no longer cease to be a legal tender.

Highlighting the positive impact of demonetisation, Jaitley