Even if 15-20% of transactions are cashless, it will be big achievement: MoS Saantosh Kumar Gangwar

New Delhi: Denying that government ever talked about going 100 percent cashless, Union Minister Santosh Kumar Gangwar said that even if 15-20 percent success is achieved in going cashless, it will be a big achievement for the country.

He said cashless transactions will be an effective way to attain transparency, even if one-fifth of transactions were to take place sans cash.

Seeking to address those who have raised concerns on demonetisation, the Minister of State for Finance told PTI, "There is facility of cashless transactions in many countries. It's happening there. We have never said we will go 100 per cent cashless. But even if we achieve 15-20 per cent success in going cashless it will be a big achievement because it's transparent and effective."

Asked his reaction on arguments put forth by some economists that demonetisation will adversely impact the economy, he said these are their "personal opinions".

"I don't speak on some economists' views. I speak for the government. And this decision has been taken by the government to fight corruption and black money," he said. 

With PTI inputs