Demonetisation in national interest, small depositors will not face any problem: Arun Jaitley

Finance Minister Arun Jaitley on Thursday said that governmen took the decision to scrap Rs 500 and Rs 1,000 currency notes in the national interest.

Zee Media Bureau

New Delhi: Finance Minister Arun Jaitley on Thursday said that government took the decision to scrap Rs 500 and Rs 1,000 currency notes in the national interest.

Briefing media about the demonetisation decision of the government at the inauguration address of two-day Economic Editors' conference- 2016 starting today, Jaitley said scrapping of Rs 500 and Rs 1,000 notes was important and government is trying to ensure requisite replacement of currency is available with people at the earliest, so there is no need for people to rush.

Finance Minister Arun Jaitley said that small depositors will not face any problem. 

"People depositing small amount will not face any problem and revenue department not to take notice of small depositors," PTI reported on Thursday quoting Jaitley as saying. 

He added that the move was pending for a long time.

Jaitley further stressed that government hasn't shied away from taking risks.

The finance minister also informed that the government hopes to resolve GST issues with consensus soon. He expressed that the government's effort is to implement GST from April 1 and the issue of dual-control that has still been left to be sorted out will find a solution soon.