Day of demonetization is Anti Black Money Day: CM

Source: The Hitavada      Date: 08 Nov 2017 10:24:20


Staff Reporter,


Asserting that the demonetization had been a direct fight against blackmoney, Chief Minister Dr Raman Singh said encouraging results are coming out of the historic decision which Prime Minister Narendra Modi had taken on November 8, 2016.

The whole country will be celebrating November 8, the first anniversary of Demonetization, as Anti Black Money day. Hailing the decision taken by Prime Minister Modi, the Chief Minister said the step has proved a historic and revolutionary step towards strengthening our economy at the same time it has eradicated flow of black-money.

On the eve of Anti Black Money day, the Chief Minister in his message to the people of the state said black money is the major reason for serious problems like corruption, terrorism, poverty, inflation, etc. Keeping this in view the Prime Minister had initiated a direct fight against black money, a decision which became indicative of Prime Minister Narendra Modi’s strong determination.

The demonetization process through which the old Rs 500 and Rs 1,000 were declared invalid and new currency notes were introduced into the system. This action led to curtailing of the shadow economy and crack down on the use of illicit and counterfeit cash to fund illegal activity and terrorism. Chief Minister Dr Raman Singh said in one year since the demonetization process was implemented, the banks all over the country including Chhattisgarh, saw a huge cash inflow worth Rs 3 lakh crores, which became an effective tool to strengthen the country’s economy. In the whole country, over 1 crore workers were connected with Employee Provident Fund (EPF) and Employees’ State Insurance (ESIC). The demonetization also led to emergence of cashless society in the country and online payment system got encouragement. In just a small period of one year, cashless digital payment in our country increased by 56 per cent.

The Chief Minister said Chhattisgarh government is also encouraging cashless transaction under Digital India Campaign launched by PM Modi. Under the Chief Minister’s Health Insurance Scheme, Smart Cards are being provided to the people, wherein, they would get free medical care worth Rs 50,000 in one year. He said the decision of demonetization have started giving encouraging results. In the last one year 18 lakh bank accounts were scrutinized and 4.73 lakh dubious accounts were identified.

Before demonetization, direct benefit transfer facility was available against only 28 government schemes but after demonetization, the Direct Benefit Transfer has been made available to beneficiaries in over 300 schemes. Also the numbers of assesses filing IT returns have increased to 24.7 per cent from merely 10 per cent in just one year.