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Cashless economy not fully possible in India: Nitish Kumar

By Newsd
Updated on :
Source: PTI

Bihar Chief Minister Nitish Kumar, who backed the demonetisation move ever since it was announced, seems to have changed his tone now as he said that the cashless economy was not fully possible in India.

The Bihar CM on Monday said that even a developed nation would not carry cashless transactions above 40-45 per cent.

Kumar otherwise had supported NDA government’s demonetisation move. But now he said he would reconsider his support after December 31. However, Kumar still praised the decision for being a possible effective instrument to check black money.

“Cashless economy is not fully possible in India as we still have miles to cover in this direction. Even a developed country has not achieved cashless transactions above 40-45 per cent,” said the Bihar CM.

The Bihar CM also linked demonetisation benefits to put a check on liquor traders. “I firmly believe that note ban has hit liquor traders, who would not be able to use their black money,” he added.

When asked if JD (U) would reconsider its stand on demonetisation, Kumar said that the government’s immediate priority was to “see through preparations of 350th birth anniversary of Guru Gobind Singh at Patna and Kalchakra in Gaya. But we will surely assess demonetisation’s side-effects after 31st December”.

The politician also praised Election Commission’s suggestion of a political party not accepting anonymous donation above ₹2,000.  “It is a good suggestion and we welcome it. It will help bring more transparency in system,” said Nitish, adding that the government should instantly launch a crackdown on benami property.


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