Clearly indicating that more stringent steps were planned to root out black money and corruption, PM Narendra Modi on Saturday said troubles would only increase for the dishonest in the coming days while honest citizens would get relief.
“Those who are dishonest, their hardships will only increase post December 30 [the last date for depositing old Rs1,000 and Rs500 notes], while those who are honest will see their troubles reduce...now the real work has started after the notes have come to the banks,” Modi said, at a rally in Mumbai after inaugurating work on a mid-sea memorial to Chhatrapati Shivaji.
“Keep it in mind I will not sleep after December 30,” Prime Minister said, adding black money hoarders should not judge him by what previous governments did. Merely depositing black money in the banks will not make it white. “We will trace out every single note. We will chase them. We may even reach your homes. Your money will not become white, but your face will turn black,” Modi warned those who sought to break the law. He pointed out that big people and bureaucrats were going to jail as the taxmen and cops swung into action.
While he did not spell out the action ahead while speaking at functions in Mumbai and Pune, the PM said the corrupt even now had time to come clean. “I invite you to sleep peacefully like those who are honest. But, what is the share of the poor people, will have to go to them. If you are not afraid of Modi or the government it’s ok, but be scared of the 125 crore Indians because they are no longer willing to accept corruption,’’ he said. He emphatically said ‘this battle’ would continue until it was won and there was no way out for the corrupt.
The PM said his government would continue “strong and prudent” economic policies and explore new funding arrangements for infrastructure projects, indicating that opposition to the scrapping of high-value currency wouldn’t dent plans. Speaking at the inauguration of a new campus of the National Institute of Securities Market at Patalganga near Mumbai, Modi said his government would not take short term decisions for political gain.
He also hinted at new measures such as tapping bond markets for financing infrastructure projects. “Our markets should show they are able to successfully raise capital for projects benefiting the vast majority,” he added.
Drawing a parallel, Modi said, “Prices of vegetables come down when supply is more. Similarly, high value notes lost value because of inflation. Even a child was using high value note but now everybody has realised the importance of a Rs100 note.”
Modi launched a blistering attack on the Congress, Modi said Parliament passed an act on Benami property in 1988 but it was missing in the files. “Government did not issue the necessary notification. It was done deliberately so that resolution could not come into force. It was I who took that resolution from the files and issue a notification,” the Prime Minister said.