SHILLONG: Demonetisation is a historic and bold decision that the Congress dithered on, said Shibun Lyngdoh on Wednesday.
Addressing the media on the first anniversary of note ban that was celebrated as Anti-Black Money Day, Lyngdoh said the UPA government toyed with the idea of demonetisation in 2005 but lacked the conviction to implement it.
“It is a historical decision that Prime Minister Narendra Modi has taken. We can say that he had the guts to do it,” he added.
Asserting that the economy is moving towards stability, the BJP state president told reporters that foreign countries have appreciated the move and they want to invest in India.
“The money of the people lying in the country has come to the bank so circulation of money will streamline the economy and check fake currency notes in banks,” he added.
The Bharatiya Janata Party leader admitted that people had to endure the pangs of note ban during the first 50 days after implementation but now “they are enjoying its fruits”.
As for Meghalaya, he said demonetisation did not affect much as it is a small state. On the growing complaints of people over minimum balance in banks which is Rs 3,000, Lyngdoh said the matter will be taken up with Finance Minister Arun Jaitley.
Demonetisation was announced last year with an aim to fight black money, corruption, counterfeit notes and to curtail terror funding. The state BJP leader Lyngdoh said extremists and Maoist activities have reduced by 80 per cent.
Cong to shut shop
With the Assembly elections just three months away, the Congress has denied using money power to influence voters.
“There is no money power in the Congress,” Deputy Chief Minister RC Laloo said during the protest.
But Lyngdoh said the Congress was opposing demonetisation as it had affected it for its involvement in corrupt practices.
“The most affected party is the Congress and its shop will be closed,” he added.
Asked on Laloo’s comments that tribals do not possess black money, he categorically said, “I don’t agree.”
