Finance Minister Arun Jaitley says India has capacity to take decision on demonetisation since it’s no longer a fragile economy; Addressing FICCI’s 89th Annual General Meeting in New Delhi, FM reasserts that demonetisation will have long-term benefits after some short-term inconveniences.

Union Finance Minister Arun Jaitley has said that demonetisation of high currency notes against global slowdown shows that Indian economy is no longer a fragile economy. Speaking at FICCI’s 89th Annual General Meeting today, the finance Minister said that the decision of demonetisation marks the creation of a new Indian normal after seventy years. He said that the transformation of the currency will have to be taken to its logical conclusion. Jaitley also said that having passed the constitutional amendment, there are several decisions which the GST Council has to take.