Minister of State for Finance Santosh Gangwar has asserted that the bold step of the Prime Minister to demonetise 500 and 1000 rupees notes will curb terror funding.

Participating in the All India Radio’s weekly Public Speak programme last night, Mr Gangwar said prices of essential commodities will come down as those who were having black money were doing wasteful expenditure.

Mr Gangwar also urged people to give 50 days as appealed by the Prime Minister to bring the situation to normalcy. He also justified printing of 2000 rupees notes saying high value denominations are also required.

Mr Gopalkrishna Agarwal, member of board of directors in Bank of Baroda said houses will become affordable for common man by curbing black money in real estate sector.