Naidu hails people's support for PM Modi's drive against black money, corruption

Union Minister for Information and Broadcasting M. Venkaiah Naidu on Monday hailed the support made for Prime Minister Narendra Modi's drive against black money and corruption by citizens.

"One should salute the common Indian for bearing this temporary inconvenience with fortitude and patience," he said.

Naidu also urged the youth to come forth and educate illiterate and semi-literate people about the benefits of cashless economy.

"Necessity is the mother of invention, to use a cliched adage. Game-changing role for the youth and other digitally literate people can educate the illiterate and semi-literate men and women in the use of mobiles and digital platforms for money transactions," Naidu added. "Literate or illiterate, rich or poor, rural or urban dwellers, lending their wholehearted support 2 PM's drive against black money and corruption."

The November 8 announcement was basically aimed at eliminating the twin menaces of black money and corruption, apart from dealing a death blow to Pakistan's terror-funding machine and the Inter-Services Intelligence (ISI) sponsored counterfeit currency industry.

A Moody's report has pegged the impact of electronic transactions to 0.8 percent increase in the GDP in emerging markets as against 0.3 percent increase in developed markets. People need to make full use of electronic payments as they are faster and easier to trace.