PM Never Said Demonetisation Would Curb Black Money: MoS Finance

PM Modi, in his address on 8 November, 2016 had clearly stated that the move was aimed at curbing black money.

In a bizzare statement, Minister of State for Finance Shiv Pratap Shukla on Thursday, 30 August claimed that Prime Minister Modi never announced demonetisation to curb black money, but only to strengthen the economy.

While speaking to India Today, Shukla said:

“Aadarniya Pradhan Mantri ji ne kabhi iss baat ko nahi kaha tha ki hum ye kale dhan ke nate kar rahe hain. Balki, saaf saaf kaha tha ki desh ki arthavyavastha ko sudharne ke liye kar rahe hain. (PM Modi never said that demonetisation was being done to curb black money. He always said it was to strengthen the economy.)

He added that while it was done to fight corruption, the illegal currency stashed in people’s home and lockers had returned to the economy. He further said that the money that was not a part of the economy is considered black money that has now returned to the system to strengthen it after demonetisation.

However, Prime Minister Modi, in his address to the nation on 8 November, 2016 had clearly stated that the move was aimed at curbing black money.

To rid the nation of the termite in the form of corruption and black money, there’s need to take one more stringent step. Effective midnight of 8 November, 2016, Rs 500 and Rs 1000 notes currently in use will not be considered legal tender.

PM Modi had said on 8 November, 2016

Here’s the Prime Minister’s full address when he declared demonetisation:

Shulka’s comments come just a day aftre the Reserve Bank of India declared that about 99.3 percent of the total currency notes, which went out of circulation on a single day, have now been returned since 8 November, 2016

The Comments also come amid political slug fest over demonetisation, with the Opposition demanding answers from the Centre over the issue.

On Thursday, too, Congress chief Rahul Gandhi and Finance Minister Arun Jaitley were locked in a verbal duel over the demonetisation with the opposition leader alleging it was a "huge scam" to help Prime Minister Narendra Modi's "crony capitalist friends" and the senior BJP leader hitting back saying his "little knowledge is dangerous".

Soon after Gandhi addressed a press conference, other BJP leaders also accused the Congress president of being a "non-serious political player", saying he had nothing new to offer and was parroting the same charges.

Gandhi alleged the demonetisation was a "huge scam" deliberately inflicted by the prime minister on common people to snatch their money and give it to his "crony capitalist friends". Gandhi said the note ban decision was not a mistake but an assault on the common man and the prime minister owes an answer to the country on why he did so.

(With inputs from India Today and PTI)