Demonetisation resulted in decline in terror activities: FM

Washington OCT 8: Finance Minister Arun Jaitley today said that the demonetization has resulted in a sharp reduction in insurgent and terror activities in Jammu and Kashmir where stone throwers were no longer active in the last 8-10 months.

He was addressing a keynote address via video conference - to the Berkeley India Conference yesterday ahead of his visit to the US to interact with the corporate world and attend the annual meeting of IMF and World Bank in Washington DC.

"The terror funding itself has gotten squeezed, You are having terrorist incidents (now), but the fact that you were finding 5,000-10,000 stone throwers being provided with money by the terrorist organizations, why is it that in the last 8-10 months it has not happened?" he asked.

Earlier In November Prime Minister Narendra Modi had announced the scrapping of old notes of Rs 1,000 and Rs 500 notes, in a bid to clamp down on black money, fake currency menace, terror funding and corruption.