Demonetisation Was Not 'A Jhatka', People Were Warned Before, Says PM Modi
Prime Minister Narendra Modi believes that his announcement that shook the nation was not quite a Jhatka. The Pm told ANI that the decision might not have come to people as a surprise as they were warned several times. Over 100 people had lost their lives directly or indirectly due to the demonetisation.
No matter how much the decision of demonetisation was criticised, Prime Minister Narendra Modi believes that his announcement that shook the nation was not quite a 'Jhatka'. This his first interview in 2019 The Pm told ANI that the decision might not have come to people as a surprise as they were warned several times.
afp/Indian Express
¡°This wasn¡¯t a jhatka. We had warned people a year before, that if you have such wealth (black money), you can deposit it, pay penalties and you will be helped out. However, they thought Modi too would behave like others so very few came forward voluntarily,¡± said PM Modi in interview to news agency ANI.
PM Modi had announced on November 8, 2016, of Rs 500 and Rs 1000 notes.
On Monday, the government in Loksabha said that it had not assessed the impact of the demonetisation and the GST on workers working in organised and unorganised sectors which included agriculture sector as well as for the people working as the contractual labour.
Demonetisation has faced massive flake and over 100 people had lost their lives directly or indirectly due to the demonetisation. For over a month, people had no other priority more pressing than getting their money exchanged or deposited.
pti
Former Chief Economic Advisor, Arvind Subramanian before the release his book ¡®Of Counsel: The Challenges of the Modi-Jaitley Economy¡¯, called the note ban exercise a "massive, draconian, monetary shock".
Demonetisation is said to be one of the massive decisions opposition has been trying to cash on keeping the general election scheduled to happen this year in mind.
