Jaitley alleged that the Congress had never attempted to fight the menace of black money, and was lashing out at the saffron party due to their "inadequate understanding" of the situation. But Jaitley cmaintained that major objectives behind demonetization of increasing the base of tax payers and digital transactions to make the country less reliant on cash have been achieved.
"Given this blatant protection of those facing allegations of corruption, it is not surprising that the BJP government has not taken any step to constitute the Lokpal as per the law, even three-and-a-half-years after it came to power", the editorial said.
The government had then said that the action would curtail the shadow economy and crack down on the use of illicit and counterfeit cash to fund illegal activity and terrorism.
He said the statements by the Congress and its leaders showed that they had not understood the objective behind demonetisation. I can understand their discomfort.
Arun Jaitley's announcement of celebrating November 8 as "Anti-Black Money" Day came a day after the Opposition declared that it will observe the day as 'Black Day.' Congress Vice President Rahul Gandhi also took a swipe at Finance Minister Arun Jaitley over a PIB tweet in which the government claimed that the "real GDP growth average is 7.5 per cent in last 3 years". This money was now getting taxed and hence, entering the lawful system. "Mere entry of cash into the system does not legitimise it".
On Wednesday, Union finance minister Jaitley offered what seemed like a laundry list of justifications for demonetisation. Prime Minister Modi had announced withdrawal of old Rs 1,000 and Rs 500 currencies from circulation on November 8, 2016.
Earlier, Jaitley said, "From today to November 8, the BJP will develop public opinion in support of the government's anti-black money steps".
"On 8th November 2017, BJP will celebrate "Anti-Black Money Day" in the nation", said Jaitley, adding that ministers will travel across India to promote the day.
The Finance Minister said the BJP would carry forward the debate by the opposition to polarise people against black money through its own campaign.
On November 8, the party will organise programmes highlighting all the steps the government has taken against black money.
The RBI said there was no information on how much black money has been extinguished as a result of demonetisation of Rs 500 and Rs 1000 notes.