Demonetization move will greatly benefit economy

     Written by : IANS | Fri, Nov 11, 2016, 02:26 AM

Demonetization move will greatly benefit economy

New Delhi, Nov 11: BJP president Amit Shah on Friday said the Narendra Modi government's move to demonetize high value currency notes would greatly benefit the economy and urged the people to join the campaign against corruption.

Addressing a press conference here, Shah said the government was taking steps to tackle problems faced by people in implementing the decision to demonetize Rs 500 and Rs 1,000 currency notes.

"The Narendra Modi government has embarked on a campaign to end corruption. I appeal to people to join in and give it speed," Shah said.

Admitting that people had to wait in queues outside ATMs to get fresh cash in view of the demonetization, he urged people to extend their cooperation.

"The step which has been taken will greatly benefit the economy," he said.

Shah also said there will be no inquiry on people depositing up to Rs 2.5 lakh in demonetized currency in banks.

"The middle class, the poor and small traders will face no problems," he said, adding that there is no need to rush as the currency notes will be accepted till December end.

Prime Minister Narendra Modi on Tuesday announced that the government had decided to demonetize Rs 500 and Rs 1,000 notes to tackle the menace of black money.