Brushing aside criticism about demonetisation, Vice-President M. Venkaiah Naidu on Thursday said the very purpose of the exercise was to bring back money to the banks and it was achieved. Once the money was back in the banks, the tax and the bank rates would go down, he said.
Speaking at the special convocation at SRM University here, Mr. Naidu said demonetisation was aimed at bringing in accountability. Money had to come to the bank and it had happened, he added.
“Some people are saying, 'Sir, isse faida kya hai ? Upyog kay hai ? Paisa bank mein aaya. Pura bank mein aaya (Sir, what was the reason? What is the use? Money came to bank). Arre bhai, purpose wohi tha ! (That was precisely the purpose),” he said.
“ Pura paisa bank mein aaya. Magar pata ke saath aaya. pita ke saath aaya. pati ke saath aaya (The money has come with address. The money has come with the parents). Once the entire money has come to system, the tax will come down, the bank rates will come down. You have seen the trend,” he added.
The Vice-President called for replacing traditional teaching methods with new ways. “In fact, the entire system from the manner in which students are taught to the conduct of examinations has to be evaluated and overhauled. Classrooms should become interactive centres of learning for students, and not teacher-centric sermon halls,” he said.
During his speech, Governor Banwarilal Purohit appealed to universities, deemed universities, higher educational institutions and colleges to put in extra efforts and improve their quality of education and thereby their ranking. “There should be periodic self-evaluation,” he said.
Higher Education Minister K.P. Anbalagan underlined the efforts taken by the State government and referred to the better gross enrolment ratio in the State compared to other States. SRM University chancellor T.R. Pachamuthu and chairman Ravi Pachamoothoo were also present.
