Misplaced Pages

Narendra Modi’s demonetisation policy

Article snapshot taken from[REDACTED] with creative commons attribution-sharealike license. Give it a read and then ask your questions in the chat. We can research this topic together.

This is an old revision of this page, as edited by Junosoon (talk | contribs) at 06:02, 14 November 2016 (→Review of Demonetisation). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Revision as of 06:02, 14 November 2016 by Junosoon (talk | contribs) (→Review of Demonetisation)(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff)
It has been suggested that this article be merged with Indian 500 and 1000 rupee currency demonetisation. Reason: Article on this topic already exists (Discuss) Proposed since November 2016.
This article is part of
a series aboutNarendra Modi
Prime Minister of IndiaIncumbent

Chief Ministership

Premiership
(Timeline)

Budgets

National policy
  • Transport - Aviation:

Campaigns

Missions

Establishments and foundations

Events and observances

Military and rescue operations

Treaties and accords

Foreign policy

Establishments and foundations

Events and observances

Military and rescue operations

Treaties and accords

Controversies

Narendra Modi's signature

[REDACTED] Media related to Narendra Modi at Wikimedia Commons

Indian Prime Minister, Narendra Modi demonetisation policy, was launched on late evening (8 pm I.S.T.) of November 8, 2016.

The decision was made, to discontinue Rs 1000 and Rs 500. Prime Minister Shri Narendra Modi made these important announcements during a televised address to the nation on the evening of Tuesday 8th November 2016.

Indian Currency banknotes of Rs 500 and Rs 1000, ceased to be legal tender from November 9 midnight 2016 (00:00 am ), Indian Standard Time as per the initiative

Persons holding old notes of five hundred or one thousand rupees can deposit these notes in bank or post offices from 10th November 2016 onwards till 30th December 2016, as per the policy .

Notes of one hundred, fifty, twenty, ten, five, two and one rupee will remain legal tender and will remain unaffected by the policy.

Shri Modi stated that on humanitarian grounds notes of five hundred and one thousand rupees will be accepted, for a 'specified date time limit only', at government hospitals, pharmacies in government hospitals (with prescription of a doctor), booking counters for railway tickets, government buses, airline ticket counters, petrol, diesel and gas stations of PSU oil companies, consumer cooperative stores authorized by the state or central government, milk booths authorized by state government and crematoria, burial grounds.

Policy

The demonetisation drive has been initated by Prime minister Narendra Modi, with an initaitive that demonetisation would help the India fight corruption, terrorism, smuggling, drug menace and other social ills.

Outlining the initiatives taken by the Modi Government to curb black money .The Prime Minister wanted to take advantage of this favourable situation and give the benefit to the poor and ordinary people by taking tough measures to unearth the black money .

Reactions of People

Several parties have expressed their views on implementation of the policy.

International Monetary Fund (IMF) has supported Prime Minister Narendra Modi's efforts to fight corruption by demonetizing 500 and 1000 rupees notes .

The Aam Aadmi Party and several opposition parties, expressed their views on the Modi government’s move to demonetise Rs500/1000 notes.

Review of Demonetisation

On the wee hours of Monday morning, 14 November 2016, Prime Minister, Narendra Modi held a meeting with senior ministers to review demonetisation and its impact, the meeting came as a result of chaos within the Indian, public getting angered on surprise demonetisation of two high currency notes.

  • The limit for such transactions, of old Rs 500 and Rs 1000 has been extended from 14th November midnight to 24th November midnight.

References

  1. "Corruption fight". The Hindu. 10 November 2016.
  2. "Historic announcements by Prime Minister,Narendra Modi". narendramodi.in. 8 November 2016.
  3. "Notes out of circulation". The Times of India. 8 November 2016.
  4. "Corruption fight". first post. 12 November 2016.
  5. "BJP policy". The Times of India. 10 November 2016.
  6. "Curb black money". The Times of India. 9 November 2016.
  7. "Demonetisation". ndtv.com. 12 November 2016.
  8. "Ban on currency". the Times of India. 10 November 2016.
  9. "Modi's Masterstroke to curb black money". India Today. 11 November 2016.
  10. "People are suffering". The Times of India. 12 November 2016.
  11. "It will help bring down inflation". Economic times. 12 November 2016.
  12. "People on Demonentisation". Hindustan times. 11 November 2016.
  13. "Arvind Kejriwal opposes demonetization". India Today. 12 November 2016.
  14. "Rahul Gandhi in que". Financial Express. 11 November 2016.
  15. "Support by IMF". business standard. 11 November 2016.
  16. "Aam Aadmi Party, speaks on Demonetisation". India.com. 11 November 2016.
  17. "Opposition steps up attack on policy". Business Standard. 10 November 2016.
  18. "Demonetisation akin to emergency". The Hindu.
  19. "Economic Emergency". Hindustan Times. 11 November 2016.
  20. "Shiv Sena speaks on demonetisation". Mumbai Mirror. 10 November 2016.
  21. "Uddhabv Thackery ,on demonetisation". India Today. 12 November 2016.
  22. "PM holds late night meeting". The Times of India. 14 November 2016.
  23. "PM helds meeting with senior ministers". Ndtv.com. 14 November 2016.
Categories:
Narendra Modi’s demonetisation policy Add topic