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One year down the line, the decision of demonetisation has proved right and successful and the common people have supported the government in its fight against corruption even after facing some problems, Union Minority Affairs Minister Mukhtar Abbas Naqvi said here on Wednesday.
"Today, people have understood that demonetisation is a decisive fight against corruption and black money.
It was a revolutionary step to fight counterfeit currency in circulation, unearthing black money and hitting hard at the financial backbone of funding for terrorism and Naxalism (Maoism)," Naqvi said at a press conference here.
He said post demonetisation, about 57 lakh new income tax payers have been added and there has been a 75 percent decline in stone pelting and terror incidents in Kashmir and 20 per cent decline in Maoist activities in the country.
On November 8 last year, Prime Minister Narendra Modi had announced demonetisation of Rs 500 and Rs 1,000 currency notes.
The opposition on Wednesday observed the first anniversary of the move as "Black Day" for the hardships the move unleashed on the common masses including the loss of employment. More than 100 persons died in the queues outside banks to exchange the old currency or for want of medical treatment in absence of legitimate currency.
However, the Bharatiya Janata Party (BJP) observed the day as "Anti Black Money Day".
"If we were to avenge the atrocities committed by the Congress government against our leaders, many members of the super family would not have been roaming free," he said.
He said that the Modi government has given "full freedom" to all the investigating agencies so that they can "do their job without any pressure or political interference with absolute transparency" and that there is no vendetta politics in this.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)