Arun Jaitley refutes Manmohan Singh's comments on demonetization

Finance Minister Arun Jaitley refuted the statements made by former prime minister Manmohan Singh in the Upper House on Thursday, during the debate on demonetization. 

Singh, while addressing the House, said that demonetization will shave off 2% or 200 basis points from the GDP and even 50 days to rejig the system could have a detrimental impact on the poor. 

While speaking to the media after the House was adjourned for the day, Jaitley rejected the claims made by Singh on GDP growth. Jaitley said, "demonetization will have a positive impact in the medium and long term." 

On Thursday, while Prime Minister Narendra Modi attended the Rajya Sabha session, but failed to turn up in the post-lunch session, leading to an uproar which led to the House's adjournment for the day.