Ghazipur, November 14: Prime Minister Narendra Modi addressed BJP’s Parivartan Rally in Ghazipur ahead of UP assembly elections in the state. He was here to flag off new Shabd Bhedi Express Train between Ghazipur and Kolkata.
Throughout his address to the public, Modi spoke to brace up government’s decision to demonetise Rs 500 and Rs 1000 currency notes. He said that he feels the pain of a common man’s grievance but the move to ban currency is in the favour of the poor. He asked public to bear the pain for 50 more days.
Modi said I know the decision to ban currency has made people cashless but the decision is meant to remove black money from the system. He asserted that only currupt people are sleepless but the poor in the country supports his demonetisation decision.
“After demonetisation, the poor are enjoying a sound sleep while rich are running from pillar to post to buy sleeping pills,” said Modi.
Scoffing at opposition for blaming him for the problems being faced by the poor, the Prime Minister said he was better aware of the hardships being faced by commoners.
However, opposition has slammed Modi for insensitive and hasty decision to demonetisation decision. People are subjected to undue stress while waiting for hours to withdraw or exchange cash at ATMs and Banks.
He further sharpened his attack on political parties and said, “Some political parties are worried after demonetisation…they used to get huge garlands of notes…only option now is to put the Rs 500 and Rs 1000 notes in waste paper basket.”
“Some people wear a smile on the face, they even say Modi ji you have done a good job. But they instigate their party workers to oppose my decision,” he said, without taking any names.
His apparent reference was to leaders of Congress, BSP, SP and AAP who have been critical of the move.
Modi said the action will affect very powerful people people but he is prepared to fight for the poor.
“I know I will face a lot of hardships as those having lots of cash are very powerful people but I have undertaken this fight for the poor,” the PM said.
PM Modi announced a sudden demnetisation of Rs 1000 and Rs 500 currency notes on November 8 and made Indians cashless. 86% of Indian currency was termed void and government offered 50 days cap to citizens to exchange their cash. As a result a compulsive rush to banks and ATMs to exchange or withdraw became a necessity for everyone. PM Modi flew to Japan the next day and stories of anger, resentment and life loss started circulating from the whole country.
The scarcity of cash at banks and 60 % of non operational ATMs only highlighed vulnerability of government in handling such a massive economic reform. The failure of Modi goverment’s execution of currency ban is all the more highlighted when parellel statements are being circulated by the governemnt to increase the limit and deadline of usage of old notes.
Even yesterday PM Modi had to remind the nation about his motive behind the currency ban, barring the issue of inconvenience being caused to common man. Stashing opposition can not take away failure of the central government in implementing demonetisation. This move may hinder black money to an extent but the loss to economy would certainly stay for longer than expected.