Demonetisation based on 'Tu daal-daal, main paat-paat': PM
In his first interview since Demonetisation, PM Narendra Modi said that the move's strategy can be aptly summarised by the age-old saying of 'Tu daal-daal, main paat-paat' which means staying a step ahead of the enemy. "The decision of demonetisation, which reflects our Niti (policy), is unequivocally clear, unwavering and categorical," he added.
While the jury is still out on whether or not demonetisation was a gamechanger for India's economy, Prime Minister Narendra Modi has shrugged off all criticisms of his drive as it completed 50 turbulent days this week.READ FULL INDIA TODAY MAGAZINE INTERVIEW HERE Prime Minister Modi told India Today Group Editorial Director Raj Chengappa, "Black money has all been forced out into the open, whomsoever it may belong to-whether it is corrupt politicians, bureaucrats, businessmen or professionals. Counterfeit notes, which our intelligence agencies had reported to be available in high volumes with our enemies, have been instantly neutralised. The media has extensively reported on districts famous as counterfeiting hubs being badly hit. Similarly, cash held by terrorists, Maoists and other extremists has also been neutralised. There has been a crippling impact on dangerous and highly damaging illegal activities, such as human trafficking, and the narcotics trade as well."In an exclusive - and his first since November 8 when he announced the banning of Rs 500 and Rs 1000 notes - interview to India Today magazine, Modi said demonetisation has forced all "black money out into the open" and claimed the decision was taken "not for some short-term windfall gain, but for a long-term structural transformation"."You must understand that we took the decision on demonetisation not for some short-term windfall gain, but for a long-term structural transformation. Our objective clearly was to clean our economy and society of the menace of black money, purging the distrust, artificial pressures and other ills that came with it," he said.The full interview is published in this week's India Today magazine. On stands now. ALSO READ: Not elected to cut ribbon but act against black money: 10 takeaways from Modi's speech in Uttarakhand