Lips trembling and fighting back tears, India’s Prime Minister Narendra Modi explains his war against high-value currency note

Prime Minister Narendra Modi — in a tearful moment. Credit

By: PTI | Panaji/belagavi/baramati | Updated: November 14, 2016 12:14 pm

Blending emotion with aggression, Prime Minister Narendra Modi on Sunday mounted a counteroffensive against the opposition over demonetisation of high-value currency notes, promising more anti-graft measures in future “even if I am burned alive”. Taking the opposition, particularly Congress, head on for targeting his government over demonetisation, Modi said those involved in mega scams were now standing in queues to exchange Rs 4000.

“They thought if they pull my hair, I will stop and do nothing. I will not be cowed down. I will not stop doing these things, even if you burn me alive,” Modi said addressing a function in Panaji, turning emotional and aggressive in turn.

WATCH VIDEO: PM Modi Reveals How He Planned Demonetisation Gradually In 10 Months

Making an emotional but combative speech, he said he was ready to face the consequences of his moves as certain forces were “up against me” because their “70 years of loot” was in trouble as a result of demonetisation. “I know that (some) forces are up against me, they may not let me live, they may ruin me because their loot of 70 years is in trouble, but I am prepared,” Modi said.

His lips trembled and there were long pauses when, fighting back tears, he said, “My dear countrymen, I gave up everything…my home, my family. I gave up everything I had for this country.”

Under unrelenting opposition attack over demonetisation of Rs 500 and Rs 1000 currency notes and the misery it has brought for the common people, Modi said,”This government does not want to bother honest people but doesn’t want to spare the dishonest. Bear with me for 50 days. Has India been looted or not? ….. I am not going to stop at this. I will expose the history of corruption of 70 years since Independence.”

The Prime Minister declared the war against corruption will not end with the current demonetisation exercise and that he would now target those owning benami property.

“This (demonetisation) is not an end. I have more projects in mind to make India corruption-free. …. We will take action against ‘benami’ property. This is major step to eradicate corruption and black money … If any money that was looted in India and has left Indian shores, it is our duty to find out about it,” he said addressing functions in Panaji, Belagavi in Karnataka and Baramati in Maharashtra.

WATCH VIDEO: Demonetisation: Arvind Kejriwal, Kapil Sibal, Akhilesh Yadav Slam Modi Govt

Apparently tartgeting Congress vice president Rahul Gandhi, one of the most vocal critics of his demonetisation exercise who vented his anger against the government action after exchanging money at a bank recently, Modi said,”Those who were involved in the coal scam, 2G scam and other scams, now have to stand in queues to exchange Rs 4000.”

“When Congress banned 25 paise, did we say anything? You could dare to stop only 25 paise, that’s what your power was limited to. But you did not make higher denomination currency notes illegal. … We did it. People have chosen a government and they expect so much from it,” he said.

Reaching out to the harried people, Modi said,”if you find anything wrong with my intentions or my actions, hang me in public. I promise you I will give you the India which you desired. If someone faces problem, I also feel the pain. I understand their problem but this is only for 50 days and after 50 days we succeed in this cleansing.”

He said the people had voted against corruption in 2014 when they elected him to lead the country.

“I am doing what I was asked to do by the people of this country. This had become clear from the very first meeting of my Cabinet when I formed the SIT (on blackmoney). We never kept the people in dark.”

“Soon after assuming power, a Supreme Court monitored Special Investigation Team was formed to investigate the black money parked outside the country. Previous governments neglected this. Did I hide anything? We took a key step to help the honest citizens defeat the menace of corruption.

“We collected Rs 67,000 crore under amnesty scheme. But in the last two years, through raids, surveys and declarations, the government has collected Rs 1,25,000 crore in its exchequer … I kept on administering small doses of medicine to improve the economic situation of the country since I came to power,” Modi said, referring to the Jan Dhan scheme aimed at financial inclusion.

Talking about efforts that preceded the demonetisation, the Prime Minister said it was “a secret operation I started 10 months back and had formed a small team.

“The secret operation was of course not the one like (Defence Minister Manohar) Parrikar had launched (surgical strike in PoK). We had to print new currency notes and take other steps in secret”, otherwise the corrupt would have found other ways to deal with the situation.

Stressing on the need to go cashless in transactions, he said, “There is talk about a cashless society and we should shift to plastic money. That’s why we have removed all taxes from debit and credit cards in the budget.”

He also asked to the people not to panic “by exchanging Rs 500 for Rs 300” and get the full value of their hard earned money. “When common people are facing hardship, I too feel bad about it. Please don’t consider the decision (regarding demonetisation) as my arrogance. I do understand the problems that the countrymen are currently facing but this inconvenience and suffering will last only till December 30. Once the cleansing is over, not even a mosquito will be there,” he said, adding “there is pain due to demonetisation but more to gain.”



NEW DELHI (AFP) – Prime Minister Narendra Modi on Monday urged Indians to give him more time to resolve a cash crisis that followed the withdrawal of high-value notes, insisting the shock move would benefit the poor in the long run.

His comments came as the government said it was increasing a weekly cash withdrawal limit and taking steps to help people in remote areas access money as frustration mounted.

There have been huge queues outside banks and ATMs ever since they reopened last Thursday, two days after Modi announced that 500 ($7.50) and 1,000 rupee notes would no longer be legal tender in a bid to tackle corruption and tax evasion.

Indians rely heavily on cash for their daily transactions and those living in rural areas or who do not have bank accounts have been particularly hard hit.

Modi said he had been “pained” by the hardships people were facing, but insisted the move would ultimately benefit poor Indians.

“I am aware you are facing difficulties with 500 and 1000 rupee notes ban. I understand the inconvenience,” he said at a political rally in Uttar Pradesh, India’s most populous state which goes to the polls next year.

“I am really pained by the inconvenience and that is why I am working tirelessly to help people overcome this situation.

“I will never let anyone loot money that belongs to India’s poor.”

Banks remained open over the weekend to try to ease the crunch, but many ATMs were out of cash.

The government has said it will take time for the machines to be recalibrated to accept the new notes, adding to the general frustration.

On Monday Shaktikanta Das, India’s secretary for economic affairs, said the government would increase a weekly withdrawal limit of 20,000 to 24,000 rupees.

It will also allow a network of so-called banking correspondents, who travel to rural areas to provide people with access to banking services, to carry more cash.

The government has said the old notes can temporarily be used for essential services such as medical assistance.

They can be exchanged for new ones or deposited in a bank account until December 30, but long queues and a lack of cash has hampered that process.

Modi pledged to crack down on so-called black money — vast piles of wealth kept hidden from the tax authorities — when he came to power in 2014.

Analysts have broadly welcomed the latest initiative, but said consumer spending would likely dip in the short term as the new notes made their way into circulation.


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One Response to “Lips trembling and fighting back tears, India’s Prime Minister Narendra Modi explains his war against high-value currency note”

  1. daveyone1 Says:

    Reblogged this on World Peace Forum.

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