Demonetisation last nail in the coffin against black money: Union Minister Radha Mohan Singh

Union Agriculture Minister said, "With this decision, Prime Minister Narendra Modi has launched a drive against black money, corruption and terrorism."

Motihari (Bihar): Union Minister Radha Mohan Singh on Saturday said the Centre's surprising demonetisation move was the final nail in the coffin against black money.

Terming the government's decision to demonetise Rs 500 and Rs 1,000 notes as a "surgical strike" on black money, the Union Agriculture and Farmers Welfare Minister said, "With this decision, Prime Minister Narendra Modi has launched a drive against black money, corruption and terrorism, and the decision will prove to be the last nail in the coffin against black money."

Singh, while talking to reporters at party office here said that the PM has kept his promise on black money, which he made during 2014 Lok Sabha polls.

The decision to demonetise the high-denomination notes had become indispensable in the interest of national security and economy, Singh said, adding that Pakistan was trying to hurt Indian economy by pumping fake currency notes meant to fund terror outfits.

The PM's surgical strike on black money has poured cold water on Pakistan's nefarious design, he said, adding that the move would help in checking corruption and terrorism both.

Admitting that the decision would cause problems to around 75 per cent of people for a couple of days, while 24 per cent would face problems for 10-20 days, the minister said, "Merely one per cent of people would face difficulties in real terms...This is a step taken in the interest of honest people."

Singh, who represents Motihari Lok Sabha constituency for the fifth term, said demonetisation would have a "positive impact" on Assembly polls in Uttar Pradesh and other states due next year as "there is hardly any party which does not use black money in elections".

The Union minister also said that the Bihar government was trying to befool the people of the state by terming the Centrally-sponsored schemes as its own.

The Central government has sanctioned funds for potable water, drainage construction, electrification under 'Deen Dayal Upadhyaya' scheme besides fixing a deadline of March 2018 for these works. 'PM Grameen Sadak Yojana' will be completed by March 2019, he said, adding that "people are wise and understand everything."