Black day vs anti-black money day: BJP, Opposition face off over note ban Manmohan Singh said if anyone benefited demonetisation, GST, it was China whose imports to India grew by 23% in just 1 year
A year into demonetisation - Anti-Black Money Day, the opposition and the government on Tuesday exchanged verbal blows over the action with former Prime Minister Manmohan Singh calling it disastrous while Finance Minister Arun Jaitley rejected the charge saying there was an ethical and moral rationale behind the decision which had given a "new direction" to the economy. Jaitley, however, acknowledged that the "benefits may not be immediately visible" but would make future generations proud. Fielded by the party in poll-bound Gujarat, Manmohan Singh said the measure had failed its ostensible purpose of curbing wealth accumulated through tax evasion as it was known by now that none of the stated objectives of eliminating black money, terror financing and counterfeit currency have been met. ALSO READ: War of words: It's govt's 'anti-black money day' vs Oppn's 'black day' "The fact that more more than 99 per cent of the (spiked) currency came back into the banking system has punctured the government's claim. There are also widespread reports of the rich converting their black money into white while the poor have undergone immense suffering," he said, "invoking the memory