New Delhi, Oct 25 (Deccan Chronicle): Bharatiya Janata Party (BJP) will celebrate 'Anti-Black Money Day' on November 8 to mark the first anniversary of demonetisation, Union Finance Minister Arun Jaitley said on Wednesday.

On the evening of November 8, 2016, Prime Minister Narendra Modi, in his address to the nation, scrapped 1,000 and old 500 rupee notes, in an attempt to tackle black money and corruption.

Jaitley said that all the prominent leaders, ministers, MPs and MLAs of BJP will hold a slew of programmes across the country and will highlight the achievements after demonetisation.

"I think the Congress has not understood the concept of demonetisation. The ownership of cash is not known, it is an anonymous owner. So when cash gets deposited in banks, what was being laundered earlier, now gets into the law books. So for entry into the lawful system, you are liable to pay tax," Jaitley said.

Lauding demonetisation and Goods and Services Tax (GST), Jaitley said, "The government has expanded digitisation and tax base across the country."

He said the objective of demonetisation is not confiscation of money but squeezing the quantum of cash.

Jaitley lashed out at the Congress saying, "Those who ruined the nation are now giving sermons."

“Congress had adequate opportunity to be in power, and I can’t recollect a single significant step that they ever took against black money,” he added.

About the Congress' allegation that the Election Commission of India was delaying the Gujarat poll dates, Jaitley said: "The Congress was singing the praises of Election Commission during the Gujarat Rajya Sabha Election. The EC is duty-bound to act as per law. EC is not supposed to be browbeaten by a disgruntled and losing political party."

The Opposition had, on Tuesday, said that an amalgamation of 18 parties will ensure that the day is observed as a "black day" with protests and rallies in different states.