Demonetisation Anniversary: Recalling the speech PM Narendra Modi made on 8 November 2016
On the evening of November 8, 2016, Prime Minister Narendra Modi made a televised address to the nation at 8 pm, making a bombshell announcement that the Rs 500 and Rs 1,000 notes in circulation have been demonetised. Before 1.2 billion people realised what just happened, the Rs 500 and Rs 1,000 notes that accounted for 86% of the total banknotes in circulation stopped being legal tender and became worthless paper.
In his speech announcing demonetisation, PM Modi addressed the issues of corruption, black money and counterfeit currencies, India was facing,
before making the big announcement.
"Brothers and sisters, To break the grip of corruption and black money, we have decided that the five hundred rupee and thousand rupee currency notes presently in use will no longer be legal tender from midnight tonight, that is 8th November 2016. This means that these notes will not be acceptable for transactions from midnight onwards. The five hundred and thousand rupee notes hoarded by anti-national and anti-social elements will become just worthless pieces of paper. The rights and the interests of honest, hard-working people will be fully protected. Let me assure you that notes of one hundred, fifty, twenty, ten, five, two and one rupee and all coins will remain legal tender and will not be affected," Modi said while announcing demonetisation.
"This step will strengthen the hands of the common man in the fight against corruption, black money and fake currency," he added.
The PM also acknowledged that there will be some temporary hardships due to demonetisation.
"In spite of all these efforts there may be temporary hardships to be faced by honest citizens. Experience tells us that ordinary citizens are always ready to make sacrifices and face difficulties for the benefit of the nation. I see that spirit when a poor widow gives up her LPG subsidy, when a retired school teacher contributes his pension to the Swacch Bharat mission, when a poor Adivasi mother sells her goats to build a toilet, when a soldier contributes 57 thousand rupees to make his village clean. I have seen that the ordinary citizen has the determination to do anything, if it will lead to the country’s progress.
So, in this fight against corruption, black money, fake notes and terrorism, in this movement for purifying our country, will our people not put up with difficulties for some days? I have full confidence that every citizen will stand up and participate in this ‘mahayagna’. My dear countrymen, after the festivity of Diwali, now join the nation and extend your hand in this Imandaari ka Utsav, this Pramanikta ka Parv, this celebration of integrity, this festival of credibility.
I am sure that all political parties, all governments, social services organizations, the media and indeed all sections of the society will take part in this with enthusiasm and make it a success," he said.
"In a country’s history, there come moments when every person feels he too should be part of that moment, that he too should make his contribution to the country’s progress. Such moments come but rarely. Now, we again have an opportunity where every citizen can join this mahayajna against the ills of corruption, black money and fake notes. The more help you give in this campaign, the more successful it will be.
It has been a matter of concern for all of us that corruption and black money tend to be accepted as part of life. This type of thinking has afflicted our politics, our administration and our society like an infestation of termites. None of our public institutions is free from these termites.
Time and again, I have seen that when the average citizen has to choose between accepting dishonesty and bearing inconvenience, they always choose to put up with inconvenience. They will not support dishonesty.
Once again, let me invite you to make your contribution to this grand sacrifice for cleansing our country, just as you cleaned up your surroundings during Diwali," Modi said as he concluded the speech, expressing confidence that the people of India will succeed in the fight against corruption and black money.
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