Demonetisation done at the right time: Modi

We do not see everything from the prism of elections, said Modi

GN Bureau | February 7, 2017


#Narendra Modi   #demonetisation  


Prime minister Narendra Modi on Tuesday defended the decision to scrap Rs 500 and Rs 1,000 currency notes, saying demonetisation took place at the right time to rid the Indian economy of black money.
 
Speaking in the Lok Sabha in reply to motion of thanks to the president's address, Modi said that like Swachh Bharat, the decision on demonetisation is a movement to clean India from corruption and black money.
 
“When can you have an operation? When the body is healthy. The economy was doing well and thus our decision was taken at the right time,” he said.
 
 
The prime minister added: “We do not see everything from the prism of elections. The interests of the nation are supreme for us.”
 
 
“My fight is for the poor and giving the poor their due. This fight will continue,” said Modi.
 
He said that there is a need to “understand and appreciate the inherent strength of our people and take India to newer heights. Faith in Jan Shakti will give results. Somewhere on the way, 'Jan Shakti' was forgotten. We do not accept this.”
 
He went on to say that surgical strike was a big decision but no one is questioning about it like they do about demonetisation.
 
The prime minister also said that budget 2017 is benefitting 96 percent of the population.
 
He also said that state polls and the parliamentary elections should be held together.
 
 

Comments

 

Other News

Machines communicate, humans connect

There is a moment every event professional knows—the kind that arrives without warning, usually an hour before the curtain rises. Months of meticulous planning are in place. And then comes the call: “We’ll also need a projector. For the slides.”   No email

Why India is entering a ‘stagflation lite’ phase

India’s macroeconomic narrative is quietly shifting—from a rare “Goldilocks” equilibrium of stable growth and contained inflation to a more fragile phase where external shocks are beginning to dominate domestic policy outcomes. The numbers still look reassuring at first glance: GDP

Labour law in India: A decade of transition

The story of labour law in India is not just about laws and codes, but also about how the nation has continued to negotiate the position of the workforce within its economic framework. The implementation of the Labour Codes across the country in November 2025 marks a definitive endpoint in the process. Yet

Time for India to build genuine resilience in energy security

There is a strip of water barely 33 kilometres wide between Iran and Oman that connects the Persian Gulf to the rest of the world`s oceans. For most of India`s history, it was a distant geographic fact. Since late February, it has been a kitchen problem.   The Strait of Hormuz. T

Will an oil price shock crash the global economy?

As tensions rise between Iran and Israel, the potential for ongoing disruption in the Strait of Hormuz has driven global energy markets very unstable. With crude prices climbing towards $140 per barrel, the world is facing its most significant oil shock since 1973.   However,

Monetary policy at a crossroads: Growth support vs currency stability

As the Reserve Bank of India (RBI)’s Monetary Policy Committee (MPC) meets from April 6–8 — its first review in FY26 — it confronts a complex and unusually conflicting macroeconomic backdrop. Inflation has eased more sharply than expected, opening the door for further rate cuts. Yet


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter