NEW DELHI: Prime Minister Narendra Modi addressed the nation on the notes ban, wherein he announced on November 8 without warning as a big step to check tax evasion. The deadline to deposit banned 500 and 1,000 notes in banks ended yesterday. Restrictions on the withdrawal of money from banks and ATMs are likely to continue.
The notes that were cancelled amounted to a whopping 86 percent of the cash in circulation. Since the ban, 14 lakh crores have been deposited in banks and six lakh crore new notes are in circulation. In multiple raids over the past 50 days, over 3,000 crores have been seized in undisclosed wealth. Finance Minister Arun Jaitley has said that tax and revenue collections are up. As the next step in his war on corruption the Prime Minster has pitched a transition to a cashless economy and the government has announced several incentives for making digital payments.
* Patience, discipline, resolve displayed by 125 crore Indians will play a critical role in shaping future of the nation for years to come
* Corruption, black money, fake notes had become so rampant in India’s social fabric that even honest people were brought to their knees
* In this fight against corruption and black money, it is clear that you wish to walk shoulder to shoulder with us
* These events after Diwali have proved that millions of people were looking for such an opportunity to get themselves freed from suffocation.
* Do you not feel, that for the good of the country, this movement for honesty, needs to be further strengthened
* The suffering undergone by the citizens is an illuminary example of our citizens’ sacrifice to secure a bright future for the country
* Your love and support is like a blessing in the fight against corruption, counterfeit currency
* Efforts should be made to ensure normality in the banking system at the earliest
* Pro-active endeavors in rural areas need to be taken to provide relief to villagers, farmers.
* What Indians have done against corruption, there is no example in the world.
* Law will take its own course. This government is a friend of the honest and in favour of putting the dishonest in the path of truth
* Two housing schemes for the economically weaker sections have been announced under the Pradhan Mantri Aawas Yojna
* In the next three months, 3 crore Kisaan cards will be converted into RuPay cards