Post note ban, separatists and Maoists feel 'fund-starved', says JaitleyAugust 20, 2017 17:36
Union Finance Minister Arun Jaitley today said demonetisation left Maoists in many parts of India and separatists in Jammu and Kashmir "fund starved".
He said it greatly reduced the number of protesters taking part in stone-pelting in the militancy-hit state.
"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," the minister said.
Jaitley was speaking at a function organised by Mumbai Bharatiya Janata Party president Ashish Shelar. He spoke on the topic 'New India Pledge'.
Maharashtra Chief Minister Devendra Fadnavis was also present on the occasion.
Elaborating on benefits of the move to scrap high-value notes in November 2016, Jaitley said money which was earlier getting circulated outside the economy had come into the formal banking system.