Govt gave time to disclose unaccounted wealth, will check black money records since Independence: PM Modi

Tokyo: Prime Minister Narendra Modi, who is on a three-day visit to Japan, on Saturday addressed the Indian diaspora in Kobe, a city on Osaka Bay. 

PM Modi, who was on his three day-visit to Japan, spoke on number of issues including government's recent demonetisation move. 

In his address, PM Modi emphasized on the alliance the two countries share and said, "In 2001, when Gujarat was hit by a strong earthquake, Kobe was the first to reach out to help. Thank you for the love I got." 

"I am sure whatever happens in India makes you very proud. The good in India is happening due to 125 crore Indians," Modi said.

Talking about FDI, PM Modi said that he "sees the trend acronym as First develop India".

"First develop India, is my definition of FDI. however the other one is Foreign Direct Investment. India is getting historically high FDI and is moving quickly on the path of economic progress," he said. 

"A large section of population did not have bank account when BJP came to power, but we launched a massive drive to open new accounts. Now almost all people have bank accounts in the country," he added.

Modi said people back home were hailing his decision of rendering Rs 500 and Rs 1,000 notes invalid but some of them were being prodded to speak against the government because of politics. 

"We have seen the rich getting poor, but the poor in our nation has showed us what it means to be rich," he said.

"I know it is difficult. People are made to speak against Modi but I salute the people.. Some stood in the queues for five hours, six hours but endured the hardship. The same way as people in Japan endured in 2011," Modi said, referring the earthquake-triggered tsunami five years ago that hit Japan. 

He said the government had not taken the decision on demonetization in haste. "We had given 50 days to people to show their unaccounted wealth till September, before the government decided to render the large currency bills illegal tender." 

"I was pondering over the difficulties, our team was thinking of ways. But obviously I couldn't share it with anyone. It is a massive cleaning campaign. This is not an overnight decision, first we had brought in a scheme. It's not that no opportunity was given, it was given," Modi said.

Modi further added that the government will go through all personal records since Independence, if required, on the issue of black money.

"We will check all the records since Independence. If I come across any unaccounted cash, no one will be spared. Will go to any length to track black money," Modi said.

"Till 30 December, there will be no trouble caused to anyone. Everything that is yours, you will get it. However, there's no guarantee that no new measure will be introduced after December 30 to crackdown on black money holders," he said.

"I believe very clearly, that unaccounted money if it comes to light, then the accounts will be scanned from Independence."

Hitting back at Opposition parties for slamming Centre over demonetisation of notes, Modi said, "The Opposition have failed to provoke people against me over the issue.