1. Demonetisation led to ‘India’s highest ever unearthing of black money: Modi government ad

Demonetisation led to ‘India’s highest ever unearthing of black money: Modi government ad

In a full-page advertisement published in leading dailies, government claimed that "0.00011% of India's population deposited almost 33% of total cash in the country!".

By: | Published: November 8, 2017 3:27 PM
In a full-page advertisement published in leading dailies, government claimed that “0.00011% of India’s population deposited almost 33% of total cash in the country!”.

Narendra Modi government has said that demonetisation led to ‘India’s highest ever unearthing of black money’. In a full-page advertisement published in leading dailies, government claimed that “0.00011% of India’s population deposited almost 33% of total cash in the country!”. The government further termed November 8, 2016 as “a historic and multi-dimensional success”.  Through the advertisement, the government claimed that demonetisation positively impacted everything from anti-terror efforts to job creation. PM Modi tweeted the picture of the advertisement.

Here are some other claims made by the government in advertisement

– Decisive blow to terrorism and Naxalism
– Stone-pelting incidents in Kashmir reduced 75 per cent
– Incidents of left-wing extremism fell more than 20 per cent
– “Massive cleansing” of India’s financial system
– Terms it a surgical strike on shell companies

“In a surgical strike on shell companies, 2.24 lakhs companies (were) struck off…58,000 bank accounts belonging to 35,000 companies (were) caught transacting Rs 17,000 crore after demonetisation,” said the government in ad.

Exactly a year ago, Prime Minister Narendra Modi had announced demonetisation of Rs 1,000 and Rs 500 notes as a measure to fight blackmoney, corruption, fake currency and terror funding. Meanwhile, Congress vice president Rahul Gandhi termed demonetisation as a “tragedy” and a “thoughtless act” and alleged that due to it livelihood of millions of honest Indians were destroyed. The Congress VP said his party stood with all those people who have suffered due to demonetisation, which was announced this day last year by the prime minister.

  1. No Comments.

Go to Top