1. Narendra Modi Interview on 50th Day of Demonetization: PM says expected all money to return to banks

Narendra Modi Interview on 50th Day of Demonetization: PM says expected all money to return to banks

PM Narendra Modi in an interview with India Today today is expected to speak on a number of subjects that are grabbing political space as well as public attention since he first announced the demonetisation order on November 8 that banned Rs 500 and Rs 1000 notes.

By: | New Delhi | Updated: December 29, 2016 10:28 PM
Narendra modi, pm modi, demonetisation, congress demands white paper, bjp white paper, modi, congress, rahul Demonetisation: PM Modi had, earlier, asked for 50 days time from the public for normalcy to return. (Reuters)

PM Narendra Modi in an interview with India Today today is expected to speak on a number of subjects that are grabbing political space as well as public attention since he first announced the demonetisation order on November 8 that banned Rs 500 and Rs 1000 notes. Since then the Opposition has united against the Centre, paralysing all business in Parliament and otherwise looked to point out the harm caused by the move. The cash crunch hit the public hard, causing long lines to form in front of ATMs and banks. It also caused other forms of disruption in the business activity across the spectrum of activities. Centre had said that this was one of the biggest moves against black money and that it had the added benefit of turning the Indian economy cashless. PM Modi had asked for 50 days time from the public for normalcy to return. The deadline is almost over and PM Modi is expected to explain his position and what he intends doing going forward. Here is what PM Modi said during the interview:

    • Speaking with India Today editor Raj Chengappa, during an interview, PM Modi said that black money was forced to come out in open post demonetisation.
    • Counterfeit notes have been neutralised and this has deprived terror merchants of all types, including naxals.
    • We can employ technology, big data to improve lives in India.
    • One must be able to differentiate between ‘niti’ (policy) and ‘rajniti’ (Politics), says the PM on frequent changes of rules relating the implementation of the note ban policy. Frequent changes show that far from moving in hindsight, it shows ability of the government to move quickly as situation evolves.
    • Expected all money to return to banks; this will leave paper trail and will not become black money again. It will also power economic growth.

    • I feel pity for our opponents, especially the Congress, for their desperation. They are totally pre-occupied with election. I am for reforms in poll funding. Multiple polls raise spending is burden on economy. Need to reform political funding; root-out black money from polls. Nation is always in poll mode.
    • As far as black money is concerned, whomsoever it belongs to whether corrupt politicians or businessmen, we will bring an end to it.
    • Demonetisation should be taken as the long term structural transformation. The revenue collected by it will be used for the common people of the country.
    • Earlier, the IT department was shooting in dark, but now the people have voluntarily come forward to declare their unaccounted money.
    • No politics behind demonetisation order, it was one of the toughest decisions to take. It is meant to clean up as well as boost economy.
    • Black money now has an address. Government will seek out hoarders. The hoarded money will be brought into system.
    • Our goal is long-term economic transformation.
    • Congress derailed Parliament; government tried its best to run house.
    • We must stay two steps ahead of the enemy. If enemy runs we will chase them. If they change tactics, we will too.
    • The central government has zero tolerance to corruption. Honest won’t be harassed and the dishonest will be caught.
    • PM Modi slammed former Prime Minister and senior Congress leader Manmohan Singh, stating, ‘Unending scams under Manmohan’.

  • Demonetisation policy is unwavering.
  • Governance is stalled.
  • Organized loot under UPA. Congress openly protected dishonest.
  • Government has the means to unearth even larger sources of black money. Demonetisation is not for short-term gain.
  • Demonetisation move was carefully thought out. It was taken with economy was in good condition. We ensured that minimal destruction was caused.
  • We have ensured that now there is a trail behind all cash in the financial system.
  • Digital economy in long-term will deliver big gains. It will help ordinary people grow.
  • People have voluntarily come forward to reveal black marketers and even give up illegally hoarded cash.
  • Demonetisation will deliver greater tax compliance. Illegal activity has been crippled.
  • holders of black money may hide behind bank accounts of others. But unlike cash holdings, now we can track them down. Invariably catching one culprit in this way leads to tracking down all those involved.
  • Demonetisation will nullify discretion of Income Tax officer; will ensure honest people do not get harassed.


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  1. B
    Dec 29, 2016 at 6:02 pm
    At least people didn't face the hardship during UPA rule other than the scams that was supposed to gain lakhs of crores for the government...But under NDA we didn't see that supposed gain of lakhs of crores coming back to the government, but could see increase in taxes, increase in petrol and diesel price (when its price was going down in international market), increase in commodity price, different cesses on all purchases, lot of loose talking (nothing happening), etc. etc... And Finally to make the things worse a hook on the neck of common people in the form of demonetization ...Why Modi did demonetization - To curb black money? or to bring cashless economy? To catch counterfeit notes? To reduce terrorism?If it was for curbing black money, now most of the black money is the form of Rs. 2000. All these IT raids could have done without demonetization. So, there was no need of this for that.Or if they have done it for cashless economy then they could have done it without banning old notes through schemes what central government is announcing now (like jackpot). Also, making society cashless will make society to walk towards online purchases making life of people depending on small scale markets miserable and online cooperates luxurious (That's it will shrink money flow and badly effect many lives).Or if they have done it to stop counterfeit, now there are many reports of fake 2000 notes caught that effectively diluted the good cause of demonetization.Or if they have done it to stop terrorist activity, I think new high value notes like that of Rs 2000 will only help it more, or?After all, Modi was there in BJP from its very early days onwards. Why he couldn't stop corrupt people in BJP and still why he is not able to throw corrupt people from BJP... So, all these is giving an image that demonetization is only a political Gimmicks...
    1. X
      Dec 30, 2016 at 10:31 am
      why did''t we question the prime minister who was silent for ten years. We gave enough time for them to do some thing good to the nation. but they all have done good to them self.Now we got a PM who is dynamic and trying to clean up this 70 yr old system intoxicated with corruption. We trusted him and made hi PM let us allow him to do his job. We all can sit in a room and write comments which is very easy thing to do. Instead of questioning PM why did he demonetize for this reason or that reason question the bank officials who were involved in handing over huge amounts of new currencies to black money holders. We need to support our PM by questioning the corrupt and showing them to this world. we have been waiting for 70 long years in between the great man Mr Vajpayee gave us good roads other than that what kind of big infrastructure development wee have seen in this country. Having waited for 70 year we can even wait and support our PM for 70 months in cleaning up our country
      1. P
        Pakku Mudli.
        Dec 30, 2016 at 7:47 am
        Excellent analysis exposing Feku. Bhaktas will of course disagree!
        1. S
          Dec 29, 2016 at 6:49 pm
          modi has strategised it very well, if anybody opposes it he will be called corrupt and anti national. while the truth is govt is not serious to eliminate black money and curbing its creation. why black money in swiss bank accounts has not returned yet ? answer is simple , that money belongs to politicians and corporates so we must rob the common people who are helpless
          1. X
            Dec 30, 2016 at 12:22 am
            Why is Modi running away from Parliament? He could have said all this in Parliament.
            1. s
              Dec 30, 2016 at 2:54 am
              Dear Indians do not exhaust with your good / bad words at this stage. Yeh to just shuruvat hai, aage dekhiye.Freedom struggle took almost 90 years, keeping the poor poorer took another 70 years.Now have patience of another 2 years only to get 'Mukti'
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