Politicians behind chit fund scams are now attacking me, says Modi

Makes veiled reference to rivals at his first rally post demonetisation.

November 21, 2016 02:49 am | Updated November 17, 2021 06:08 am IST - Meerut:

Prime Minister Narendra Modi addressing a BJP rally in Agra on Sunday.

Prime Minister Narendra Modi addressing a BJP rally in Agra on Sunday.

Prime Minister Narendra Modi on Sunday launched a scathing attack on politicians, including West Bengal Chief Minister Mamata Banerjee and Bahujan Samaj Party supremo Mayawati, for their opposition to the demonetisation exercise.

Speaking at an election rally in Agra, Mr. Modi did not mention Ms. Banerjee, but said political leaders behind multi-crore chit fund scams were attacking him as they have been hit hard by demonetisation.

“I know the kind of people raising their voice against me. Does the country not know whose money was invested in chit fund business? Lakhs and crores of poor people invested their hard earned money in chit funds. And with the blessings of politicians, all that money disappeared,” Mr. Modi said. “Because of the chit funds, the breadwinners of hundreds of families were forced to commit suicide and the same people are questioning me now.”

Mr. Modi repeatedly stressed that the exercise was for the poor, for the farmers and for the middle class. Apparently hinting at BSP leader Mayawati, who has been accused by BJP leaders of auctioning party tickets, Mr. Modi said, “I know that some people lost their everything because of my action. You want to become an MLA. Bring this much cash, then you will become MLA. She kept all the cash. What happened to it? You tell us, did that money not belong to poor and honest people? This game should stop.”

‘Financial terrorism targeting youth via drugs'

“Some people hijacked the entire economy and this war is against them. Every common person wants to lead their lives with honesty but they are exploited by black money people. Is not this the responsibility of the government to safeguard the common people? This step of mine will ensure that middle class and poor people are saved from black marketeers and middlemen,” Mr. Modi said, addressing a large Parivartan rally in Agra.

He also raised the issue of ‘financial terrorism’ from across the border. “On the one hand the sponsored terrorism from across the border kills our soldiers, on the other hand the financial terrorism from across the border targets our youngsters through drugs. It seeks to destroys our economy by printing fake currency. Entire business of drugs sustains in cash. Crores and crores of fake currency was smuggled in the country. Making the notes of Rs. 500 and Rs. 1000 illegal, the entire business of fake currency got a big jolt. By using that money and buying drugs and arms, terrorists sought to destroy our country and kill our youngsters. Should we allow that to happen? For how many more years should we remain silent on killing our soldiers?,”he said to loud cheers from the audience. Terming demonetisation a ‘test by fire’, Mr Modi said the country would emerge “victorious” after the decision.

“As I said on the very first day when I announced the decision, it is a time-consuming process. It will cause inconvenience and a little problem also but, I believe, the nation will come out victorious from this test by fire,” he said, emphasising that his government would be flexible in implementing the decision and effect alterations if required.

“I had asked for 50 days. In just ten days now over 5,000 crore rupees have already been deposited in banks. That banks will invest that money in the market and give people loans with that money,” he added.

Housing project

The Prime Minister also formally launched the ‘Housing for All’ in rural areas under which the government proposes to provide an environmentally safe and secure pucca house to every rural household by 2022.

Named the Pradhan Mantri Awaas Yojana (Gramin) or PMAY-G, in its first phase the target is to complete one crore houses by March 2019. “The unit cost for these houses has been significantly increased and now through convergence a minimum support of nearly Rs 1.5 lakh to Rs 1.6 lakh to a household is available,” an official said.

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