After demonetisation, benami property holders the next target: PM Modi

On Nov 8, Modi announced demonetisation of Rs 1,000 and Rs 500 notes, making them invalid

Upping his ante against corruption, Prime Minister Narendra Modi on Sunday said he will how take action against 'benami' property holders.

The Benami Property Act came into effect from November 1. The law prohibits illegal benami transactions, under which up to seven years’ imprisonment and penalty for those indulging in such activities can be handed out,.

"We will take action against 'benami' property; This is major step to eradicate graft, black money." said Modi

On November 8, Modi announced demonetisation of Rs 1,000 and Rs 500 notes with effect from midnight, making these notes invalid in a major assault on black money, fake currency and corruption.

"Carried out a secret operation (demonetisation); it was 10 months of work involving printing new notes and announced it on November 8," said Modi at the foundation stone laying ceremony of greenfield airport at Mopa plateau in Goa.

In a veiled dig at Congress Vice President Rahul Gandhi, Modi said, "Demonetisation was a major step to fight black money and corruption. People had asked me to fight graft. This suffering is for 50 days. After cleanliness, not even a mosquito can fly. People in 2G scam have to now stand in queue for Rs 4,000."

There have been long queues outside banks, ATMs after the demonetisation announcement with people standing for hours to either withdraw cash or exchange notes.

"Yes, I also feel the pain. These steps taken were not a display of arrogance. I have seen poverty and understand people's problems. This is not the end. I have more plans to eradicate corruption. I'm doing it for the benefit of honest people. I was not born to sit in a chair of high office. Whatever I had -- my family, my home -- I left them for the nation," Modi said.

Modi also said that the de-monetisation drive was not the end of his campaign against corruption and black money and said that he was working on other projects to stop the malaise.

"I know what kind of powers I have taken on. I know the kind of people who will be against me now. I am looting what they had accumulated over 70 years," Modi said in his speech at the Shama Prasad Mukherjee indoor stadium in Bambolim village near Panaji.

"They will not leave me alive. They will destroy me. Let them do what they want. Fifty days help me. The country should just help me for 50 days," Modi added.

"This is not the end. This is not a full stop. I am openly saying, this is not a full stop.

"There are other projects in my mind to stop dishonesty and corruption in the country. These projects are coming.

"I am doing this for the poor, honest people for those who are working hard to survive. So that they can get their own home, their children get good education and so that their parents get care," Modi added.