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Demonetisation: Cash Crisis Continue as December 30 Deadline Approaches

New Delhi: With less than 5 days to go for December 30 deadline set by Prime Minister Narendra Modi to ease money supply, the cash crunch continues with people lining outside banks and ATMs to withdraw their money.

Earlier on Sunday, the PM during his Mann Ki Baat reportedly dropped a hint on increasing taxes on capital markets and the need for all sections, including market players, to contribute to the national exchequer.

Immediately after PM’s talk show, Finance Minister Arun Jaitley defended the PM saying his speech was misinterpreted in some parts of media.

Read More: Restrictions on Cash Withdrawals May Continue Beyond December 30

Jaitley also said that the government’s bid to go cashless means less cash not no cash, but his political counterparts are slow in understanding this.

The Finance Minister also asserted that the government has taken a number of steps to reduce blackmoney including revised tax treaties, IDS, taxing benami properties and the like.