My government considered the country bigger than politics, hence demonetization: Modi
My government considered the country bigger than politics, hence demonetization, addressing the Indian diaspora in Myanmar her said.
While demonetization has got enough criticism, Prime Minister Narendra Modi today justified demonetization saying his government was not afraid to take big and tough decisions in the interest of the country.
Along with demonetisation announced on November 8 2016, he also named the surgical strikes in Pakistan-occupied Kashmir (PoK) last year and the GST announced on July 1 as the "big" and "tough" decisions taken by his three- year-old government.
Noteban was solely to curb black money and to help identify lakhs of people who had crores of rupees in bank accounts but never paid income tax, the Prime Minister said.
Registration of over two lakh companies had been cancelled as these companies had been indulging in laundering of black money, PMO added.
"To deal with corruption, we banned currency notes of Rs 500 and Rs 1000 denomination. A handful of corrupt people were making 125 crore people pay for their misdeeds. This was not acceptable to us," Modi said in 35-minute address.
"There used to be no clue as to from where black money was coming and where it was going," he said.
-PTC News
