Excessive Paper Currency Leads to Temptation: Jaitley on Note Ban

Speaking at the 8th edition of the Vibrant Gujarat Summit in Gandhinagar on Wednesday, India’s Finance Minister Arun Jaitley defended the government’s push for a “cashless economy” by talking about the moral pitfalls of using excessive paper currency, which has “its vices, and leads to its own temptations.”
Defending the demonetisation move, Jaitley said that India needs bold decisions and time to fix the problems that the economy faces. Calling the note ban move a “difficult decision”, he said that such moves are required initially to pass through difficult phases.