Demonetisation forces 3 lakh companies to shut shop, PM Modi says they were fraud


Prime Minister Narendra Modi on Sunday mocked the closure of 3 lakh companies just the way he had made fun of people in distress in the days after his note ban announcement.

Conceding that three lakh companies had shut shot after they were hit by his deminetisation decision, Modi accused them of having committed fraud. Addressing an election rally in Himachal Pradesh, he said that over 3 lakh companies had shut down after demonetisation and a probe into 5,000 such firms had found a fraud of Rs 4,000 crore while investigation against others was on.

“Imagine what will be the amount of fraud committed by 3 lakh companies,” he said.

Modi’s demonetisation announcement had caused the deaths of of close to 200 people, who largely died due to stress with many not able to execute their wedding plans. Speaking in Japan, Modi had made fun of those people in distress by flaunting how his decision had prevented people from organising weddings due to paucity of fund.

On Sunday, Modi also claimed that the former prime minister, Indira Gandhi, had refused to carry out note ban after a panel headed by Yashwantrao Chavan recommended it, alleging she kept her party’s interests over that of the nation.

“Had she done note ban when needed, I would not have had to carry out this big task. For the Congress, it is never ‘dal se bada desh’ (country bigger than party). For them only their party’s interest comes first,” he said. “The Congress and corruption are inseparable, they are like a tree and its roots. All their leaders are out on bail after facing serious charges of corruption and they are speaking about putting a check on corruption,” he was quoted by PTI.

He said that the Congress was “angry” at the note ban because it was ‘still feeling its effect’ and cited it as the reason for the party’s “mourning” by giving a public protest call.

“Few people who faced the heat of demonetization are still complaining and are planning to observe November 8 as ‘black day’. The Congress cannot scare me by burning my effigies,” he said a well-attended poll rally in Kullu. “The Congress is planning to observe ‘mourning’ in the coming week. It has nothing to do except grieve in the coming days. I do not fear burning of my effigies. My fight against corruption will not stop,” he also said at another rally in Palampur.

Modi said note ban had disturbed the sleep of Congresmen and their anger has not cooled, alleging they had big bags and garages full of notes which were banned due to his decision. The opposition parties, including the Congress, have said they would observe November 8 as “black day” across the country by organising protests and effigy burning, besides candlelight marches.

He also claimed that the Congress is now “fearing” that he will bring a law to check benami property and book all those who have brought assets in the name of others as the opposition party had failed to do so when in power.

Pledging his party’s support for the overall development of Himachal Pradesh, he said the hill state needs to be freed of 5 Mafias – ‘Mining Mafia’, ‘Forest Mafia’, ‘Drug Mafia’, ‘Tender Mafia’ and ‘Transfer Mafia’