‘Demonetisation will cause inconvenience, but country will come out victorious’

PM Modi attacks TMC chief Mamata Banerjee and the Congress over their opposition to the move

Prime Minister Narendra Modi launched the Pradhan Mantri Awas Yojana (Grameen) in Agra on Sunday.

 

Prime Minister Narendra Modi said on Sunday that the country would emerge victorious after the Centre’s demonetisation move, which he called a “trial by fire.”

“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 hardship but, I believe, the nation will come out victorious from this trial by fire,” Mr. Modi said at a public rally in the city of the Taj in Uttar Pradesh.

“I have asked for 50 days. It’s been just 10 days and money worth over Rs. 5,000 crore has already been deposited in banks... the banks will infuse this money in the markets,” he added.

Mr. Modi said he did not take the decision to trouble anyone but for the good of the coming generations.

Veiled attack on Mamata

In remarks seen as a sharp attack on West Bengal Chief Minister Mamata Banerjee, Mr. Modi said that political leaders behind multi-crore chit fund scams were attacking him over demonetisation as they have been hit hard by the move.

He also hit out at the Congress, saying the previous governments had kept quiet on the issue of black money because they were worried about losing power.

Addressing a ‘Parivartan rally, ‘Mr. Modi cautioned people holding Jan Dhan accounts not to allow themselves to be used for laundering unaccounted money.

“I know what sort of people are 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 money in chit funds. But with the blessings of politicians, crores and crores of rupees have vanished. Due to chit fund loss, hundreds of head of families were forced to commit suicide. Look at history and they are questioning me,” he said.