Demonetisation move aimed at cleaning economy, people's sacrifice will not go in vain, says PM Modi

Prime Minister Narendra Modi on Sunday said political leaders behind multi-crore chit fund scams are attacking him as they have been hit hard by demonetisation.

By Manisha Singh | Updated: Nov 20, 2016, 20:25 PM IST
PlayDemonetisation move aimed at cleaning economy, people's sacrifice will not go in vain, says PM Modi
Pic courtesy: ANI

Agra: Prime Minister Narendra Modi said on Sunday that the demonetisation move was highly appreciated by poor people, who despite facing difficulties had supported the government.

"Demonetisation was highly appreciated by poor people, despite facing difficulties they supported us. I had said that inconvenience is going to happen, but I want to commend people who, despite all that, are supporting us," PM Modi said addressing 'parivartan rally'.

He added, "I can assure you all that your sacrifice won't go in vain. I did the ban move not to agonise anyone but to clean our economy and secure the future of our youth."

In an apparent dig at West Bengal CM Mamata Banerjee, PM Modi said, "I know what kind of people are raising their voice against me. The country knows whose money is invested in chit fund and they are the most affected by it. Lakhs of people deposited money in chit fund schemes and due to certain leaders crores of rupees vanished. Guardians of hundreds families had to commit suicide due to the chit fund scheme."

 He also hit out at the Congress saying governments in the past 70 years kept quiet on black money because they were worried about losing power.

 However, PM Modi did not name any leaders.

 Some Trinamool Congress (TMC) leaders have been arraigned before courts in cases relating to chit fund scams in West Bengal.

At the same time, he said, "All that money collected in exchange for a party ticket or an MLA seat is now invalid."

Moreover, PM Modi cautioned people holding Jan Dhan accounts not to allow themselves to be used for laundering the money of the rich by depositing their ill-gotten wealth as they could unnecessarily get into problems with law.

Assembly elections are due in Uttar Pradesh next year.

The Prime Minister reiterated, "I have told you, give me 50 days. After that everything will be normal," and added, "This scheme is to help our poor brethren, middle class and Adivasis. More than Rs. 5 lakh crore has been deposited in banks. Now as the banks are cash rich, they will distribute it as loans to our entrepreneur and youth."

After long queues at banks and automated teller machines for exchanging notes or withdrawing money, he had appealed to the public to give him 50 days for the implementation of the demonetisation decision.

Old Rs 500 and Rs 1,000 currency notes were banned as legal tender effective November 8 midnight.

Also ReadDemonetisation: PM Modi seeks 50 days to overcome crisis, says more anti-graft measures on anvil

"Fake currency worth crores have been funneled into the country. With this drugs and terrorism has flourished. Drugs and hawala have been badly hit by ban of 500 and 1000 notes," he pointed out.

On the other hand, PM Modi launched Pradhan Mantri Awas Yojana today.

"We want every Indian to have a house by 2022. This government is dedicated to the poor," he said.

He also spoke about the Indore-Patna Express derailment near Kanpur in wee hours of the morning today and said, "Many people lost their lives, got injured in train derailment near Kanpur this morning. The Central government will get it probed."