NT NETWORK
PANAJI
Maintaining that although the difficult situations faced by the public after demonetisation of Rs 500 and Rs 1,000 currency notes would return to normalcy in 50 days as assured by Prime Minister Narendra Modi, national spokesperson of the Bharatiya Janata Party GVL Narasimha Rao on Thursday stated that the financial scenario in the country would, however, not be exactly as it existed before November 8, 2016.
“We expect an amount of over Rs 14 lakh crore in the market to be deposited in banks by December 30. However, it would not be possible to pump back so much money in circulation in 50 days, as a part of remonetisation,” he admitted, stating that the aim of the government is to now reduce the cash in circulation to the GDP (Gross Domestic Product) ratio, which is 14 per cent.
Addressing a press conference at the state BJP headquarters, Rao, who is in Goa to hold a workshop for the state party unit, said, “We cannot visualise a completely cashless economy. However, less cash regime would be ushered in Goa and rest of India through discussion with the members of the public, their empowerment and extending them help during the entire financial transition process.” “In fact, we would set up the cashless society in partnership with the people and would not force it on anyone,” he added, pointing out that post demonetisation, India is witnessing a cleaner economy.
Speaking further, the BJP national spokesperson predicted that the BJP in Goa is heading for a big victory at the forthcoming state assembly election, with substantial increase in party’s seats in the state legislative assembly.
Attacking former prime minister and Rajya Sabha member Manmohan Singh for speaking like a politician instead of an economist, and stating that India’s demonetisation programme will cut 2 per cent from the national GDP, Rao said that the figure quoted by Singh is exaggerated. “This quarter, there could be a marginal impact of the demonetisation on the national GDP, but that would be only 0.2 per cent to 0.3 per cent,” he mentioned, alleging that Singh ran a cash and carry government for ten years.
Replying to a question as regards opulent events being organised by the BJP leaders and ministers during the post-demonetisation period, Rao said that there is no ban on spending money on any event. “The problem is that people are using money acquired through illicit means, the unaccounted money for such events,” he observed, adding that lot of austerity measures are being practised by the BJP leaders, as they are under the national focus.
Answering another question as regards the recent demand from the Maharashtrawadi Gomantak Party, an alliance partner of the BJP, to replace Chief Minister Laxmikant Parsekar immediately, Rao said that senior BJP leader Nitin Gadkari handles the BJP-MGP alliance-related aspects and he takes note of all the related statements. “Gadkari will take the right decision as regards the BJP-MGP alliance, at the appropriate time,” he noted.
Replying to yet another question about large amounts of cash in Rs 2,000 currency notes being confiscated in Goa, Rao said that there would always be people, who will break the law. “However, the message that they would be caught and dealt with firmly is very important for arresting the generation of black money,” he concluded.