For 70 years, Indian democracy was funded by 'invisible money': Arun Jaitley

In his opening remarks, Jaitley expressed confidence about the impact of demonetisation and digitization on the Indian economy.

Finance Minister Arun Jaitley on Saturday said that the government was actively working towards providing a system of clean political funding.

"When we deal with the subject of how the political system will be funded, we hope through cleaner money in future. We are actively working on this," he said here at the Delhi Economics Conclave 2017 organised by the Finance Ministry.

Jaitley said the for the past 70 years Indian democracy has been funded by "invisible money".

In his opening remarks, Jaitley also expressed confidence about the impact of demonetisation and digitization on the Indian economy. Demonetisations coupled with the implementation of Goods and Services Tax (GST) regime will help towards the objective by creating greater compliance and increasing digitisation, the Finance Minister said.

"Signs of increasing digitisation are already visible through expansion of direct and indirect taxpayer base," he added.

If we look at totality of steps taken, each will not only hv great long term impact but also has substantial ethical rational behind it: FM pic.twitter.com/5FqfT7MCRR

— ANI (@ANI_news) July 22, 2017

On this occasion, T Shanmugaratnam, Deputy PM, Singapore, said India is making right strides in key areas even though its long way to go. He said, 'the need of the hour is to build political support for good economics.'

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