Demonetization led to 75 per cent drop in Kashmir stone pelting : Modi

Demonetization led to 75 per cent drop in Kashmir stone pelting : Modi

In a series of tweets which included slides and videos, India’s Prime Minister Narendara Modi Wednesday called demonetisation “a historic and multi dimensional success” and a “decisive blow” to “terrorism and Naxalism.”

A slide posted by Modi said stone pelting incidents in Kashmir valley had come down by 75 per cent, incidents of Left Wing Extremism were down by 20 per cent, and 7.62 lakh counterfeit notes were detected.

“I bow to the people of India for steadfastly supporting the several measures taken by the Government to eradicate corruption and black money,” Modi said in a tweet.

“125 crore Indians fought a decisive battle and won,” he said.

As per the data posted by Modi, 0.00011 per cent of India’s population deposited 33 per cent of the total cash, and in 17.73 cases cash transaction did not match the tax profile.

It also said that cash deposit of Rs 3.68 lakh crore in 23.22 lakh accounts is under suspicion.

Calling it a “massive cleansing of the Indian financial system”, the slide said “a maze of shell companies dealing in black money and hawala transactions” were uncovered, and called it a “surgical strike” on shell companies, with 2.24 lakh shell companies being struck off.

It said 58,000 bank accounts belonging to 35,000 companies were caught transacting Rs 17,000 crore after demonetisation.

A video posted by Modi said India was in a dire state due to corruption and black money when he became the Prime Minister, and called demonetisation a step which was never taken before or even thought of in independent India.

“In the history of any country there are moments where every person feels they want to be a part of that moment. Every common citizen can participate in this war against corruption, black money and counterfeit currency,” Prime Minister Modi is seen saying in the video, which also shows people in a line, adding that the people “overlooked” small troubles in the fight against black money.

  • author's avatar

    By: KN Web Desk

    No biography available at this time

  • author's avatar