- BJP will launch a massive campaign in the New Year to back notes ban
- Deadline for depositing banned 500 and 1,000 rupee notes ends tomorrow
- On Dec 31, PM might address nation on steps taken to ease cash crunch
That day at around 7.30 pm, Prime Minister Narendra Modi is likely to address the nation and speak about steps taken to ease the cash crunch that has followed his November 8 ban on 500 and 1,000 rupee notes, aimed at combating black or undeclared money.
Finance Minister Arun Jaitley today said that clear results of the Prime Minister's November 8 announcement are already in, with tax and revenue collections up. The Finance minister said a large portion of the currency wiped out by the notes ban has already been replaced and the Reserve Bank has adequate new currency and would release 500 rupee notes to remonetise.
"The people have supported this move significantly, and not a single incident of any form of unrest has been reported in the country" since the notes ban, Mr Jaitley said.
Union Power Minister Piyush Goyal said the "success of the notes ban is not just the government's but the entire country's," thanking people for what he called their support for demonetisation. He pointed to the BJP's victories in elections held in various places after the notes ban as proof that people have supported the move despite the hardships caused by the cash crunch. "The situation has also come under control... Businesses are running in order, additional notes are being issued and circulated by the RBI," Mr Goyal said.
Law and IT Minister Ravi Shankar Prasad said, "Now the country is functioning at such a fast pace but if the Congress party can't see this then it's their loss," accusing the main opposition party of being, "the biggest patron of the corrupt and corruption."
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