Union Finance Minister Arun Jaitley has stated that the next generation and the generations after that would proudly recall the demonetization process set in motion by the BJP-ruled Centre on this day last year.

Today, the BJP is celebrating in a grand manner the first anniversary of the process of demonetization as ‘anti-black money day’. Last year on this day, Prime Minister Narendra Modi surprised the nation and its people by announcing in the night that Rs.15 lakh crore currencies of Rs.500 and Rs.1000 currency denominations would become invalid with immediate effect, terming it as an anti-black money measure which would also curb terrorism in the country.

Modi appealed to the people to put up with initial hiccups in view of the long-term benefits which would accrue to the country but people were very upset and even surveys have pointed out to a decline in economic growth. Condemning this, Opposition parties including the Congress have decided to observe ‘Black Day’ today on the first anniversary of the demonetization announcement.

Speaking to newsmen, Jaitley said that black-money laundering has been kept in check by demonetization. “India’s economy holds its head high now,” he said and added that benefits of demonetization can’t be felt/seen immediately as the Prime Minister has enhanced the country’s economy with a far-sighted objective.  “Next and the other generations to come later would proudly recall this day,” he said.

He also said that fake bank accounts of 2.24 lakh companies, which were aiding and abetting black-money circulation, had been attached.