Business

Demonetisation timing was ‘best’ as economy was doing well: PM

Demonetisation timing was 'best' as economy was doing well: PM

TIL Desk/Business/New Delhi- Giving a new turn to his demonetisation decision, Prime Minister Narendra Modi asserted that the timing for it was the “best” as the economy was doing well and needled Congress by questioning its record with regard to various issues.

Modi, who has been under sustained attack from Congress and other opposition parties, gave reasons for the first time for the timing of the decision to scrap old notes of Rs 500 and Rs 1000 in November last year.

Replying to a debate in Lok Sabha on the Motion of Thanks on the President’s Address which was adopted by the House later amid walkout by Congress, he replied point-by-point to the issues raised by the Opposition, including surgical strikes and allocations for MNREGA, agriculture sector and for Scheduled Castes. Opposition had moved 189 amendments to the Motion which were negated.

In his 90-minute speech, which was punctuated by protests by some Opposition members at certain points, Modi also raised pitch for simultaneous elections to Lok Sabha and Assemblies, asking all parties to consider the proposal, rising above political considerations as “everybody will face some difficulty” if it is implemented.

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