No regrets, but govt addressing inconvenience, says Venkaiah Naidu

Despite having to stand in long queues, people support PM Modi's decision because of his development model and because they believe he will fight against corruption and black money, said Naidu

By: ENS Economic Bureau | New Delhi | Updated: November 15, 2016 7:06 am
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Terming the Centre’s decision last week to recall Rs 500 and Rs 1,000 notes as a “Mahayagna”, M Venkaiah Naidu, Union Minister for Urban Development, Information and Broadcasting, said that while the government is looking to address the inconvenience being caused to people, it has “no regrets” and “stands by the decision”. Speaking at the Idea Exchange event of The Indian Express, Naidu said, “This is our decision and we stand by the decision… There are no regrets at all but inconvenience is being addressed and we are sure that in the coming days, they will be fully addressed.”

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Stating that it takes 21 days to print the new Rs 500 and Rs 2,000 currency notes and around three weeks to distribute them, Naidu said the government is working on the logistical challenges, even deploying helicopters and aircraft. “We will take special measures. They (RBI officials) have been told that the situation is dynamic and we have to act fast without compromising on the safety of notes,” said Naidu, adding that he would not dwell into specifics.

Taking a dig at political opponents trying to scuttle the government’s fight against black money and corruption, Naidu said, “We are aware of the powerful vested interests and the negative campaign. While we are holding review meetings to smoothen things, they are also holding review meetings to see how they can influence public opinion and scuttle this Mahayagna and fail this great war on corruption and black money.”

On charges that the government’s decision was sudden, he said, “The secrecy had to be maintained otherwise the purpose would have got lost. There are around 82,000 bank branches and over 2 lakh ATMs, it takes time to recalibrate them or sensitise the bank branches and by the time you do (that), the information goes out.”

Naidu also pointed out that Prime Minister Narendra Modi, in his Mann Ki Baat radio address, had clearly said that the income disclosure scheme was the golden chance for people to declare undisclosed income before September 30.

On people supporting the government despite having to stand in long queues outside banks and ATMs, Naidu said the support for the Prime Minister came because of his development model and because people believe he will fight against corruption and black money. “That is the mandate the people have given and he started implementing (that) from day one,” said Naidu.

 

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First Published on: November 15, 2016 4:20 am
  1. J
    Jayo khan
    Nov 15, 2016 at 3:29 am
    Hospitals, trusts, petrol pump are being used as front for the operation convert.
    Reply
    1. J
      Jayo khan
      Nov 15, 2016 at 4:38 am
      Where is this minister ,when a common man who has withdrawn white money and paid to builders and now builders are asking to cancell the deal and take cash back. Poor mans white became black in few days ,leave apart his dream to buy home .
      Reply
      1. J
        Jayo khan
        Nov 15, 2016 at 12:55 am
        Can government come out that how many babu's and official took leave during last week period. They must be standing in qs rather then being on their desk
        Reply
        1. J
          Jayo khan
          Nov 15, 2016 at 1:13 am
          In name of mother's, sisters some one gave skip route to builders, jewellers ,services providers .
          Reply
          1. S
            Satendra kumar
            Nov 15, 2016 at 12:32 am
            Venkaiha Naidu aboustly made correct statement No Regret! Inconvenience time is paitence given the timeframe issuing enchaned security notes curbing the older notes it needs timetable.The central government implementation of new laws in Ministry for Finance is very welcome.The corruption illegal business activities tax avoidance all this criminal activities should be stopped.The bottom line is respect who you are honesty what khuda teach you in puranic texture and glory pride what individual attma (soul) says.
            Reply
            1. B
              Baskar
              Nov 17, 2016 at 4:47 pm
              For the first time, people are forgetting dhaaru, cinemas, satta and coming out unequivocally about their inconvenience. Once convenience is provided everybody would be back to catching up with these.
              Reply
              1. B
                Bijan Mohanty
                Nov 15, 2016 at 2:51 am
                The man on whom modi seems to have least confidence is speaking about the govt. Move ! One can guess the outcome .
                Reply
                1. C
                  CPM
                  Nov 15, 2016 at 3:15 am
                  Only Revolution can wake up Tughlaq in power.
                  Reply
                  1. A
                    AMM
                    Nov 15, 2016 at 4:11 am
                    Teri SHARAM mar chuki hai Venkaiah
                    Reply
                    1. S
                      Sankaran Krishnan
                      Nov 17, 2016 at 7:18 am
                      It is always common for the people to experience inconvenience right from Ration Shops, EB and Telephone Payments, Tax payments, Freebies collection, Standing up in Cinema queues etc., and now they are standing up for their own money. When the Opposition Parties are calling for Bandhs, Hartals, Train or Bus strikes and at that time too the people are facing hardship and why the so called Opposition Leaders are indulging in such acts is the ???
                      Reply
                      1. R
                        Raja
                        Nov 16, 2016 at 2:30 pm
                        Foreigners are laughing at uslt;br/gt;lt;br/gt;The decision has made Indian Currency non trust worthy world overlt;br/gt;lt;br/gt;There is no clear mechanism for Indian money in circulation abroad
                        Reply
                        1. M
                          mumbikar
                          Nov 15, 2016 at 12:51 am
                          10 mnths planning would have surely involved the former RBI governor, he knew the consequences so he disagreed, so what happens ? Get mad dog swamy to start barking against Rajan and ask PM to force him out !!! Get Urjit Patel, ex ambani employee in, knowning he will toe the line and rss/bjp/adani/ambani/ramdev and the rest like them will escape peacefully !!!! Is'nt that the truth Naidu ?? U think the rest of the country are blind bhakts ?
                          Reply
                          1. M
                            mumbikar
                            Nov 17, 2016 at 7:11 am
                            lol !!!! bhakts fooled again, which planet does this man live on ? his party paid media of tweeters and trollers are making people believe that everything is all rosy !!!! enough lies.
                            Reply
                            1. M
                              Mayur Panghaal
                              Nov 15, 2016 at 2:26 am
                              Address your lunacy first.
                              Reply
                              1. M
                                Mayur Panghaal
                                Nov 15, 2016 at 2:27 am
                                If you are unable to post comments and all your comments are being sent for moderation....change your browser.
                                Reply
                                1. M
                                  Mayur Panghaal
                                  Nov 15, 2016 at 2:34 am
                                  REveal CAsh deposits in all BJP accounts all over country over past 1 month..if you are actually a chiawala as you claim..or else even that was jumla
                                  Reply
                                  1. M
                                    Mayur Panghaal
                                    Nov 15, 2016 at 7:00 am
                                    Mote than 20 people have been reported killed due to this insanity.These are the reported cases.Now you can imagine the unreported cases.
                                    Reply
                                    1. R
                                      R.Mehta
                                      Nov 15, 2016 at 1:57 am
                                      Mandate was ģiven to BJP not for inconveniencing the people and making the people penniless ,so that they cannot even take care of daily needs .It has been almost a week since the move took place and all the invconveniences being caused to public are known to the govt ,then when steps will be taken to take care of them.Time is running out for people and there does not appear to be any relief for the people and only talks of .taking care of inconvenience are being made .There appears to be no concern for the plight of common people.
                                      Reply
                                      1. M
                                        Mahender Goriganti
                                        Nov 15, 2016 at 3:00 am
                                        It is funny!! the 'thieves are complaining that the stolen goods are worthless and foul play'. Added benefit of demonetization is now the thieves will have an internal war and settle scores and a lot of mafia gangs go extinct, especially the terror and fake currency halal dealers.lt;br/gt;The biggest beneficiary are the honest Am Admi as they they don't have to compete with dishonest money and greedy goons with lots of dirty money.
                                        Reply
                                        1. N
                                          Narendra
                                          Nov 15, 2016 at 3:19 am
                                          Bluffs and bluffs. Trained ministers talk tamed language. Where is development ?? Yes there may be model.
                                          Reply
                                          1. V
                                            Vihari Naidu
                                            Nov 15, 2016 at 2:06 am
                                            Why would Mr.Venakkaya Naidu regret ?lt;br/gt;It's those common people who voted for Bjp and now made to wait for hours and hours in lines and those who lost their loved ones should regret.
                                            Reply
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