New Delhi:
In a landmark move to curb blackmoney, Modi Government on Tuesday banned Rs 500 and Rs 1000 currency notes effective from midnight. The news, although largely welcome, did draw some negative reactions on method and impact of implementation from opposition. Here is an account of who said what:
Accolades
President Pranab Mukherjee:
“We welcome bold step of Government of India which will help unearth unaccounted money & counterfeit currency. “
President Pranab Mukherjee also called upon people not to panic and follow Govt guidelines for exchange of Rs 1000/500 notes.
Also read | Rs 500 and Rs 1000 discontinued: All you need to know about PM Modi's 'surgical strike' against black money
Maharashtra CM Devendra Fadnavis:
“Historic and courageous decision on Rs 500 and Rs 1000 notes to stop corruption and flow of black money. Hats off Modi ji.”
“People of our nation would support and participate like true soldiers in this war against black money. This is a milestone in nation’s progress,” he said.
MP CM Shivraj Singh Chouhan:
“This decision will take us way forward, which has been made for the benefit of the nation. This is Safai Parv (Cleaning festival).”
ICICI CEO Chanda Kochhar:
“Welcome the announcement made by the PM to derecognize Rs 1000 & Rs 500 notes.
“This move will give a sharp boost to all formal channels of payment which in turn will help the formal economy to grow.
“It is perhaps most significant move ever taken to curtail the parallel economy.”
Also read | Demonetisation of Rs 500, Rs 1000 notes: Bankers and industry leaders welcome move
BJP President Amit Shah:
“This fight against black money will continue, decisions like forming SIT were earlier taken for the same.”
Spiritual Guru Baba Ramdev:
“Would like to congratulate PM Modi on making such a good decision, on black money”
Criticism
Congress Spokesperson Randeep Singh Surjewala
“Is the banking system in our country ready to tackle such situation, Govt has to answer many questions.
“While Modi ji withdraws Rs 1000 note on one side, he introduces Rs2000 note on the other side? Does it not defeat his own argument?
“Are you not putting cumbersome burden on them by putting a limit on how much money can be withdrawn?”
However, Surjewala said that Congress has always supported any step against black money, and will continue to do so.
Also read | This is where you can use Rs 500 and Rs 1,000 notes till November 11
Meanwhile, RBI Governor Urjit Patel has ensured the India public that ‘there will be no impact on the liquidity on the wholesale markets. If at all there is any, we'll make sure that it’s addressed’.
