Demonetisation will be a case study for economists worldwide, says PM Modi

Answering criticism over demonetisation, Prime Minister Narendra Modi on Wednesday said that the fight against corruption and black money is not a political fight.

New Delhi: Answering criticism over demonetisation, Prime Minister Narendra Modi on Wednesday said that the fight against corruption and black money is not political and it is not to single out any particular party.

PM Modi was replying to the Motion of Thanks on President's Address in the Rajya Sabha.

He emphasized that corruption has adversely impacted the aspirations of the poor and the middle class.

"Those who are cheating the system will have to be dealt with toughness, so that the hands of the poor are strengthened," Modi said.

We will have to be tough on those who are cheating the system. When we do that, the hands of the poor will be strengthened: PM — PMO India (@PMOIndia) February 8, 2017

The Prime Minister also said that institutions should be kept above politics, and the Reserve Bank of India should not be dragged into controversy.

Key Highlights of PM Modi's address

-On matters related to governance, a lot has been done which has given strength to the common man.

-Transparency has been brought in the procurement process, through government e Marketplace.

-Jan Dhan account, RuPay card introduced for empowering people.

-The world is moving towards digitisation, we cannot afford to lag behind. And we must promote it.

-Small countries like South Korea and Malaysia are models for us when it comes to cleanliness.

-Sanitation coverage in the rural areas has increased.

-I want to congratulate the media, they have furthered the message of Swachh Bharat and created so much awareness.

-I was surprised that people made fun of the Swachh Bharat Mission also.

-Let us keep institutions above politics.

-Attacks on my party, our government, on me are understandable but why was the RBI Governor dragged into this? It was not good.

Attacks on the party I belong to, our government, on me are understandable but why was the RBI dragged into this. It was not required: PM — PMO India (@PMOIndia) February 8, 2017

-Anand Sharma ji was asking why are you spending crores on Digital tech. Not a single extra penny was spent in development of BHIM app.

-There was so much said about what is wrong with the nation...perhaps they were giving a report card of their own record.

-Worlds' economists don't know parameters to assess it. What India did will be a case study for economists worldwide.

-Today India is working to correct the wrongs that entered our society.

-There is a horizontal divide- on one side are the people of India & Government and on the other side are a group of political leaders.

-We will have to be tough on those who are cheating the system. When we do that, the hands of the poor will be strengthened.

-Corruption has adversely impacted the aspirations of the poor and the middle class.

-About 700 Maoists surrendered in 30-40 days after demonetisation and this number is increasing.

-The fight against corruption and black money is not a political fight. It is not to single out any particular party.

The fight against corruption and black money is not a political fight. It is not to single out any particular party: PM @narendramodi — PMO India (@PMOIndia) February 8, 2017

-Several members have shared their views and there was considerable discussion on demonetisation.