Demonetisation was a perfectly timed decision: PM

Replying to a debate on Motion of Thanks on the President’s Address which was adopted by the House later amid walkout by Congress, he replied point-by-point to the issues raised by the Opposition, including surgical strikes and allocations for MNREGA, agriculture sector and for Scheduled Castes. Opposition had moved 190 amendments to the Motion which were negated. 

In his 90-minute speech, which was punctuated by protests by some Opposition members at certain points, Modi also raised pitch for simultaneous elections to Lok Sabha and Assemblies, asking all parties to consider the proposal, rising above political considerations as “everybody will face some difficulty” if it is implemented.

On demonetisation over which he has been under sustained attack, the Prime Minister asserted that the timing of the decision announced on November 8 last year was perfect. “Some people have said why was this (demonetisation) decision taken when the economy was doing well...It was the best time for demonetisation as the economy was strong. Had the economy been weak, then we could not have done it successfully,” he said. 

Acknowledging that demonetisation had brought “difficulties” to the people, the Prime Minister said, however, that the decision was not taken for any political mileage but for the benefit of the poor. “We had to take it and took it,” he said. 

Modi listed out the steps taken by his government to curb black money, including setting up of SIT, tightening the law on benami, Real Estate Bill, making PAN requirement mandatory for cash transactions of Rs 2 lakh and above and revision of tax treaties. 

“Had it been for political benefit, you would have done it,” he told the Congress.