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Sitharaman hails ‘historic’ demonetisation drive by PM Modi

New Delhi [India]: Hailing the demonetisation move by Prime Minister Narendra Modi, Union Commerce and Industry Minister Nirmala Sitharaman said on Saturday that it was a historic step that the entire executive unanimously agreed upon.

She said that such a decision is taken by a leadership which the BJP has provided to the country.

“It takes a kind of leadership that BJP has provided for the country for now a firm and visionary leadership which sees what is going to happen to this country and puts the country before the party, before the individual and as a result took a very big decision which is one among the several decision taken,” she said while addressing the media.

Sitharaman said that demonetisation was one of the big decisions taken by the government.

The Minister also said that an economic resolution was presented by the Finance Minister in National Executive which mainly focussed on demonetisation.

She added that the resolution talked about demonetisation in detail and why this decision was taken.

“The resolution went in to details explaining the objective of the government,” she said.

Sitharaman said the huge amounts of Rs. 500 and 1000 notes, that the banks have received, can be utilised in developmental activities.

Prime Minister Narendra Modi on November 8 announced that the high-denomination currency notes of Rs. 500 and Rs. 1000 would not be legal tender any more. (ANI)