Post Dec 30, gain for honest, pain for dishonest: Modi

“Dishonest people, you should not underestimate the mood of 125 crore people. You will have to be afraid of it... Time has come for ruin of dishonest people. This is a cleanliness campaign,” Modi said. “After 50 days (from Nov 8), the troubles of honest people will start to reduce and the problems of dishonest people will begin to increase,” Modi sai in his address at the Bandra Kurla Complex (BKC) here after laying foundation of various big ticket infrastructure projects. 

“We took a big decision against black money and corruption on November 8 and 125 crore Indians endured pain but did not stop supporting me. I want to assure people of the country that this battle won’t end till we win it,” he said. Hitting out at parties opposing demonetisation, he said, “this is not a simple battle. Those who have consumed malai (cream) did not leave any stone unturned to foil this (demonetisation).” “The corrupt have made all efforts to defeat the decision (demonetisation). They even thought of managing bank officials to get their black money converted into white. And that’s how, many of them got caught,” he said. “I said there will be pain for 50 days (after demonetisation announcement),” he said, adding people are ready to bear the pain in the country’s interest. 

Modi said, “The corrupt have made all efforts to defeat the decision (demonetisation). They even thought of managing bank officials to get their black money converted into white. And that’s how many of them got caught.” The PM earlier in the day inaugurated a new campus of capital markets regulator Sebi’s National Institute of Securities Markets (NISM) at Patalganga on the outskirts of Mumbai. Describing the Nov 8 announcement of cancellation of as much as 86 per cent or Rs 20.51 trillion worth of currency in circulation as a “difficult decision,” he said, “Demonetisation has (brought about) short-term pains, but it will bring in long-term gains.” 

On the need to increase levies on the capital markets in the light of amendments to the many of the bilateral investment and taxation treaties, Modi said, “Those who profit from markets must make a fair contribution to nation-building through taxes.... We should consider methods for increasing it in a fair, efficient and transparent way."