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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  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
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