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Demonetisation Only Affected Wealthy People, Says Manipur CM Biren Singh

IMPHAL: Demonetisation Only Affected Wealthy People, Says Manipur CM Biren Singh. On the first anniversary of demonetisation, the capital city saw massive rallies both in favour of and in protest against the Centre’s move last year. Chief minister N Biren Singh, calling demonetisation a “brave move by Prime Minister Narendra Modi”, said it has affected only the wealthy class who get away with not paying taxes, while opposition leader Okram Ibobi Singh said the move negatively affected the nation’s economy and caused sufferings to common people.

Demonetisation Only Affected Wealthy People, Says Manipur CM Biren Singh

The ruling BJP held rallies across Imphal Valley against black money. Biren Singh, delivering his message on the occasion of ‘Anti-Black Money Day’, said demonetisation and the Goods and Service Tax (GST) have benefited large sections of people. He said, “The key objectives of demonetisation was to eradicate black money, ban fake currency, terrorism funding, drugs and illegal arms smuggling and to encourage cashless transactions and use of digital wallets and credit cards for money transfer in order to achieve a transparent economy.”

Stating that his government has taken up steps to curb benami transactions and the use of black money in real estate deals, Biren said, “After implementation of GST, there has been an increase in the government’s revenue collection. The state government has been able to collect Rs 184.31 crore as revenue from July to September,” he added.

As part of the “Anti-Black Money Day” observation in the Imphal Valley, BJP state unit president and Rajya Sabha MP Kshetrimayum Bhabhananda Singh said demonetisation is an honest policy to bring about a structural change in the country to enhance its economy.

Opposition leader and Congress strongman Okram Ibobi Singh, while sharply criticizing demonetisation, said the move was responsible for many sorrows for common people. Recalling the NDA government’s promise that Rs 15 lakh each would be given to citizens of the country after recovering black money from foreign banks, Ibobi said, “Where is the money and how many people have got this amount from the Centre?”

“Over five million people have lost their jobs across the country due to demonetisation and the country’s GDP has decreased,” added the former CM.

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