Defence Minister Arun Jaitley. Defence Minister Arun Jaitley.

Demonetisation has left Maoists in many parts of India and separatists in Jammu and Kashmir “fund starved”, Union Finance Minister Arun Jaitley said on Sunday. He also stated that note-ban has significantly reduced the number of protesters taking part in stone-pelting in the strife-torn region. “Stone pelters used to gather in thousands on the streets of Kashmir before demonetisation was announced, but now not even 25 come together for such agitations,” he said.

“After demonetisation, separatists in Jammu and Kashmir and also Maoists in states like Chhattisgarh have become fund starved,” Jaitley said during a function organised by Mumbai BJP president Ashish Shelar.

Commenting on the benefits of demonetisation, Jaitley reiterated that money which was earlier getting circulated outside the economy has come into the formal banking system.

Regarding BJP’s vision of building a ‘New India’, the Union Minister said the government wants to spend funds on defence, rural development and infrastructure. “We should have world-class public institutions so that shameful incidents such as the Gorakhpur tragedy do not recur,” he added.

Jaitley, who also holds the portfolio of finance ministry, said the Narendra Modi-led government was not satisfied with a 7-7.5 per cent GDP growth rate, adding that the government would continue to take tough decisions in order to boost the country’s growth rate.

He also shed light on several achievements of the BJP-led government, which had completed three years in power. GST rollout, notes ban and amendment to laws related to benami transactions were among the topics he spoke during the function.

With PTI inputs

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