Prasad made the remarks at an event organised by the Delhi BJP's IT cell that lay emphasis on how demonetisation was an opportunity for the country's transition towards a cashless economy.
However, Prasad said the government's motive behind demonetisation was "less cash", not cashless.
He criticised the Opposition parties for "not allowing" the Parliament to function.
"People will face a little problem. But the pain is like the one that a woman in labour undergoes. Eventually one will experience the joy like one does hearing the first cry of a baby," Prasad said.
He asserted that the defunct notes deposited in the banks will be scrutinised and not all of it will be considered "white".
At the gathering, largely consisting of lawyers, Prasad also took jibes at former Prime Minister Manmohan Singh, saying, he was "happy" when Singh spoke.
"I eagerly wait for the speeches of two people. Manmohan Singh and Rahul Gandhi," he said, and went on to hail Prime Minister Narendra Modi for having "raised" India's stature in the global community through his foreign trips.
He said the amount deposited in the banks will help in investing in strengthening the Indian Army, assisting farmers, small traders, building roads, adding that "naxals and terrorists" are a troubled lot due to the decision.
Tiwari also referred to Modi's statement that former Prime Minister Indira Gandhi had "rejected" Wanchoo Committee's recommendations in 1971 to bring demonetisation.