The Finance Minister Mr. Arun Jaitley says, the positive indications have started emerging in the formal economy after a year of demonetisation.

He said, the tax base has increased, more money is available now in the banks, mutual funds and capital market. 

In an exclusive interview to All India Radio, Mr. Jaitley said the demonetisation was one of the measures taken to formalise and alter the excessive cash dominated economy.

In reply to a question on the GST, Mr. Jaitley said it has been a smooth switch over of the system, but said, there is a need for a simplification of procedure and rationalisation of rates. We are in continuous process to make things better.

Mr. Jaitley also informed that the GST Council will deliberate to bring the real estate under its purview for fixing standard rates in the entire country.

The interview can be heard on the FM Gold channel and additional frequencies at 9.15 tonight. #casansaar (Source - NewsonAir)