Following the ban in Rs 500 and Rs 1,000 notes by the Narendra Modi government and the continuing public distress post implementation of the demonetisation policy, Uttar Pradesh Chief Minister Akhilesh Yadav had announced that the banned currency notes will be legally accepted for land registrations till November 23.
Earlier in the day the UP Chief Minister had accused the Modi government of giving grief to the common people of the country through the new note-ban policy. In another bizzare statement, Akhilesh Yadav had reportedly claimed that black money helped the Indian economy during global recession.
Citing the increase in the circulation of black money in the country, Prime Minister Narendra Modi, on November 8, had initiated the demonetisation policy, through which the central government had put a ban on the currency notes of the denomination Rs 500 and Rs 1,000. Following the implementation of the anti-graft policy, there had been a chaotic situation in the country, with people struggling to exchange their banned currency notes with the new bank notes, there by making an attempt to save their cash from turning into useless pieces of paper.
And as public distress continues, with people standing for hours in ‘never-ending’ queues, outside banks and ATMs, a political storm erupted as oppositions started cricising the Modi-government, claiming a messy implementation of the policy.
However, PM Narendra Modi had taken and aggressive tone, defending the anti-graft policy as a mandate in the present scenario. The Prime Minister, after his second meeting on Monday, reviewed the situation and came up with several steps to lessen public distress.