A day after the government withdrew high-value banknotes, finance minister Arun Jaitley on Wednesday said people can deposit as much cash as they want in banks to get new notes but shouldn’t take it as an amnesty scheme for undisclosed income.
Speaking to public broadcaster Doordarshan, Jaitley said the law will take its course if the deposited cash is found illegal but assured families and ordinary citizens that they didn’t have anything to worry about.
“Black money isn’t anyone’s basic right,” Jaitley said.
The minister’s comments came a day after the government put out of circulation notes of denomination Rs 1,000 and Rs 500 in a dramatic bid to stamp out corruption and drain illicit cash from the economy.
Prime Minister Narendra Modi had earlier appealed to people to disclose their unaccounted money till September 30 but had also indicated strong steps to unearth black money if people don’t comply. “Don’t blame me for any harsh steps,” Modi had said on his radio show, Mann ki baat.
The finance minister assured the ordinary citizen and said the “bold” move will free India of corruption and boost the economy.
