BJP to observe noteban anniversary as anti-blackmoney day

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India's ruling Bharatiya Janata Party Wednesday said it will observe November 8 as "anti- black money" day throughout the country. When the NDA government came to power (May 2014), Prime Minister Narendra Modi took steps to minimise and end it. Stressing on the need to increase public investment, the Finance Minister said that the public sector banks have an adequate lending capacity after demonetization.

A day after announcing major capital infusion for public sector banks, federal Finance Minister Arun Jaitley said this will substantially improve the situation.

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Sharma, flanked by Congress communications incharge Randeep Surjewala, accused Modi and Jaitley of showing "arrogance" by not admitting their "mistakes" of noteban decision and GST implementation which, he alleged, hit the country's economy hard and halted its growth story. They had also chose to form a coordination committee. Taking a dig at BJP chief Amit Shah, Sharma asked whether Amit Shah's son Jay Shah would find a place in this celebration.

Following projection of massive GDP growth by Finance Minister Arun Jaitley on Tuesday, Congress Vice President Rahul Gandhi on Wednesday took to Twitter and hinted the growth was a mockery.

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He quoted a tweet by the Press Information Bureau, the government's official publicity wing, which said that real GDP growth average was 7.5 per cent in the last three years. He said the government had already taken steps in that direction by amending the SARFAESI Act, introducing the Insolvency Code and merging SBI subsidiaries. Pointing out that the GDP growth slowdown has bottomed out and the economy is turning around, Garg said the International Monetary Fund had recently projected that the country would achieve an 8 percent growth rate soon.

The government has no plan to put the economy back on track, he added.

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"China is growing at 6.9 per cent".