PM Narendra Modi's Speech On Demonetisation On New Year's Eve: Highlights


Prime Minister Narendra Modi addressed the nation on demonetisation.

New Delhi:  Prime Minister Narendra Modi addressed the nation on the notes ban, wherein he announced on November 8 without warning as a big step to check tax evasion. The deadline to deposit banned 500 and 1,000 notes in banks ended yesterday. Restrictions on the withdrawal of money from banks and ATMs are likely to continue. The notes that were cancelled amounted to a whopping 86 percent of the cash in circulation. Since the ban, 14 lakh crores have been deposited in banks and six lakh crore new notes are in circulation. In multiple raids over the past 50 days, over 3,000 crores have been seized in undisclosed wealth. Finance Minister Arun Jaitley has said that tax and revenue collections are up. As the next step in his war on corruption the Prime Minster has pitched a transition to a cashless economy and the government has announced several incentives for making digital payments. 

Here are the highlights of PM Narendra Modi's speech:
  • 125 crore Indians will welcome the new year with new decisions, new spirits.
  • India has become witness to a shuddhikaran (purification) drive.
  • For coming years, this will decide the course of things to come.
  • Humans feel suffocated by the evils brought in over time. He tries to break free from them.
  • Our lives had been entangled in black money, corruption; Had forced the honest people to kneel before it.
  • They had no choice but to accept it.
  • What happened after Diwali shows Indians were looking for a way to beat it.
  • Whether it is the 1962 war or the 1965 war, India has seen the patriotism of its people.
  • Intellectuals will surely discuss it sometime.
  • To fight external evils is an ordinary thing.
  • But when ordinary Indians come to fight the evil within, it is inspiring.
  • After Diwali, Indians with patience, sacrifice, fought to defeat evils.
  • Kuchh baat hai ki hasti mit ti nahi humari: Indians have lived this saying.
  • Social evils had become part of our life. But events after November 8 force us to reflect back on that.
  • It has proved how important sachhai and achhai are to Indians.
  • It shows, what is discipline. In the face of misinformation, the ability to see the truth.
  • The pain that Indians have borne will be an example for generations.
  • Indians have laid the foundation for a bright future based on their hard work, their mettle. 
  • This is the first instance in history when the government and the people have fought shoulder to shoulder.
  • My countrymen, I know you have had to stand in line for hours to take out your own money, face a lot of pain.
  • I got thousands of letters, they shared their pain, reaffirmed their resolve.
  • You do not want to stay back in the fight against corruption, black money, fake currency.
  • In the new year, we hope to take the bank towards normal functioning.
  • We have to focus on normalising the functioning of banks - Especially in far flung areas, rural areas. All problems should be fixed.
  • What Indians have done, there is no example for it in the world.
  • In the past few years, 500 and 1,000 notes were less in circulation and more in a parallel economy.
  • The amount of cash we had was not usual.
  • In our economy, notes were bolstering inflation, black marketing, taking what is the right of the poor.
  • The patience, discipline and resolve that crores of Indians have shown, had Lal Bahadur Shastri, JP Narayan, Lohia were here, they would bless Indians.
  • Ordinary citizens joined the effort of the government to help the poor.
  • Such heartening examples have come to light in the past few weeks.
  • My beloved countrymen, how long will we turn away from the truth.
  • I want to give you an information.
  • Either you will burst out laughing or explode with rage.
  • There are just 24 lakh people in country who admit their income is more than 10 lakh.
  • Every city you see, has people with large bungalows and cars. Don't you think the fight against black money and corruption deserves more power?
  • Brothers and sisters, law will do its job, punish the guilty. But for the government what is a priority is how the honest are secured and how honesty is more widely established.
  • This government is a friend of the honest and hopes to bring the dishonest back on the right track.
  • You often have poor experiences with red tapism, and bureaucracy.
  • Whether it is Central government or state government, all are responsible for the welfare of the ordinary people and seclusion of the dishonest.
  • Terrorists, Naxalites, human traffickers are all dependent on black money.
  • This one decision struck them deep.
  • Today, in large numbers, youth are leaving the path of violence and returning to the mainstream.
  • If we are alert we can stop them from going back.
  • The wealth that was outside the mainstream economy, has returned to it.
  • The cunning people looking for loopholes have been thwarted. Technology has helped in this fight.
  • They have been forced to return to the mainstream.
  • Bank officials have had a major contribution in this effort. Women have stayed back to work long hours. Post offices have functioned for long hours.
  • Yes, some serious crimes have been revealed and the people responsible wont be spared.
  • At this time, I will say one thing to the banks.
  • History is witness that Indian banks have never had such a huge influx of wealth.
  • Keeping in mind the independence of banks, I want to appeal to them to focus on the middle class and the underprivileged.
  • Banks should work for the benefit of the poor and not let this opportunity go.
  • As much as possible, they should work for the welfare of the people.
  • When policies are made for the people, societies are strengthened and there are long term gains. It ensures better results.
  • Villagers, poor, farmers, Dalit, are strengthened.
  • The country will progress faster.
  • Sabka Saath Sabka Vikas to reaffirm this.
  • The government is bringing a few new schemes.
  • So many years after independence, lakhs of poor don't have their homes.
  • As black money grew, homes became out of reach of the poor and the middle class.
  • In 2017, villagers who want to build their homes or expand them will get loans
  • For loans up to 2 lakh - 3 per cent interest relief; 9 lakh - 4 per cent interest relief; 12 lakh - 3 per cent interest relief will be given.
  • Such an environment had been created that farmers were suffering.
  • This year the Rabi harvest has been high.
  • Government will take care of interest for 60 days for farmers who had taken loans from district coop, central bank.
  • 20,000 crore in NABARD fund to give loans to farmers.
  • In 3 months, 3 crore Kisan Credit Cards will be transformed to RuPay credit cards.
  • Farmers had to go to banks to withdraw money. With this they will be able to sell and buy at any place.
  • Just as agriculture is important, so are MSMEs. Keeping this in mind, the government has taken some decisions
  • For small entrepreneurs, credit guarantee raised from 1 crore to 2 crore.
  • Loans by non-banking financial companies will also be covered in this.
  • Shopkeepers and small businessmen will get more loans because of this.
  • The government has also said for small businesses, cash credit limit raised to 25 per cent from 20 per cent.
  • A few days ago the government gave huge tax relief to small entrepreneurs.
  • On digital transactions, their tax will be calculated at 6 per cent, not 8.
  • For pregnant women, a national scheme is being launched.
  • Pregnant women will get Rs 6,000 for their delivery, vaccination, for nutritious meals.
  • This will be transferred straight to their account.
  • This will help reduce the reduce deaths of mothers during childbirth .
  • When banks get large deposits, they reduce interest rates on deposits.
  • Senior citizens will be assured 8 per cent interest on their deposits up to Rs 7.5 lakh.
  • When corruption and black money is brought up, political funding becomes a large part of it.
  • Time has come for all political leaders to understand the people.
  • From time to time parties have taken corrective steps, accepted limitations.
  • Today, the time has come when politicians shun holier than thou approach and work towards reforming the political system.
  • Even the President has spoken on this.
  • There has always been space for all constructive steps in our country.
  • There are quite a few positive signs when it comes to digital transactions.
  • Yesterday the government launched BHIM. I encourage people to use it as much as possible.
  • Economists will review the events after Diwali. But it's also important for others to do the same.
  • Indians have shown unprecedented patience.
  • In 1917, under Mahatma Gandhi's leadership, the first Satyagraha was launched in Champaran.
  • A hundred years later, we see Indians still have the same strength.
  • Mahatma Gandhi is not anymore but people have shown that his spirit lives on.
  • We must not let this fight against corruption and black money stop.
  • We are 125 crore people, 65 per cent people under 35, have all the means.
  • An India like this has no reason to stay behind.
  • The new year is coming with rays of new resolves. Let us all overcome all obstacles and build a new future.

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