After completion of 50 days demonetization ordeal, PM Modi will address the country over note ban issue on December 31, Saturday at 7.30 pm. If we peep back on his November 8 speech, he had announced the ban on high denomination notes as a revolution against black money in the country. On December 30, the deadline of note deposits have came to an end.
In the speech, PM Modi may discuss the ways to ease up the post demonetization
hardships . He may also suggest the ways to deal with the issues the economy is facing majorly after taking this move.
Demonetization ended up extracting out 86 percent cash out of money circulation in the country. Due to this, the country is facing massive cash crunch which has caused great hindrances in the daily lives. Since the start of the move, country people are in constant efforts to get some new currency and dispose of the old one.
We saw never ending queues in front of ATMs and people’s rush to banks for exchanging their old notes. Slipping away from the track, in middle of December, government also withdrew the support of petrol pumps and other utility sources for old note currency.
Now, it has been rolled out that, holding more than 10 older note after December 30 may lead to punishment accompanied with Rs. 50,000 fine.
Amidst all this, opposition left no stone unturned in throwing hissy fits at ruling party in criticism of note ban. Countering this, PM Modi promised of complete normalcy within 50 days. The curfew period is ending tomorrow and many ministers are claiming the arising normalcy in these days.
In all his speeches, PM Modi has urged for the support in his fight calling it a “short-term pain” for “long-term gain.” We are just hoping to see a new promoted India at the end of this move.
