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Not afraid of taking big decisions like note ban: PM Modi in Myanmar

Move helped govt in identifying money stashed in bank accounts

Press Trust of India  |  Yangon 

Narendra Modi, Modi
rime Minister Narendra Modi addresses the Indian Community during an event at Yangon in Myanmar on Wednesday. (Photo: PTI)

Prime Minister on Wednesday justified which has come in for criticism, asserting that his government was not afraid of taking "big" and "tough" decisions in the interest of the country.

Addressing the Indian diaspora in Myanmar, he said his government could take such decisions because it considers the country bigger than politics.

Along with announced on November 8 last year, he also named the surgical strikes in Pakistan-occupied Kashmir (PoK) last year and the which was rolled out on July 1 as the "big" and "tough" decisions taken by his three- year-old government.

Referring to the note ban, the prime minister said the step was taken to curb and that it had helped identify lakhs of people who had crores of rupees in bank accounts but never paid income tax.

He also said that registration of over two lakh companies had been cancelled as those had been found to be indulging in the laundering of

"To deal with corruption, we banned currency notes of Rs 500 and Rs 1000 denomination. A handful of corrupt people were making 125 crore people pay for their misdeeds. This was not acceptable to us," said in a 35-minute address.

"There used to be no clue as to from where was coming and where it was going," he said.

His justification of came against the backdrop of criticism of the decision by the opposition parties.

The Congress has dubbed the noteban as a "disaster" and said it had "utterly failed" while the "corrupt made windfall gains".

First Published: Thu, September 07 2017. 02:14 IST