"The Opposition parties had earlier chose to observe November 8 - the first anniversary of demonetisation - as "black day". On November 8, the BJP will celebrate "Anti-Black Money Day" and create a mandate in favour of the steps taken against black money", Union Finance Minister Arun Jaitley told reporters here. Stressing on the need to increase public investment, the Finance Minister said that the public sector banks have an adequate lending capacity after demonetization. He said over 99 per cent of the money the prime minister had junked has returned to banks as it was genuine money of the people and not black money and only 0.0013 per cent of black money has been found. He pointed out that sale of gold through digital transactions doubled this time on dhanteras festival. I can not recollect a single significant step they ever took against black money. They had reconciled to India living with a shadow economy. I can understand their discomfort.
He said the government had now realised the "bad condition" of the economy and has woken up to the situation by announcing a financial package.
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The BJPs move comes after around 18 opposition parties, including the Congress and Left, announced that they would observe November 8 as black day against demonetisation which they termed as the governments "most ill-conceived decision". Jaitley presented an optimistic picture of the state of the economy, insisting that the Indian economy remains on a strong wicket with sound macro-economic fundamentals.
He said the government also brought in laws to check black money by giving a last opportunity to those who had stashed money overseas by offering them 60 per cent for repatriating their assets.
The government collected resources before it moved yesterday to infuse money into banks, he said.