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With the expiry of 50 days of "pain" of note ban that he announced in a special broadcast on November 8, Prime Minister Narendra Modi is all set to make an address to the nation on the New Year's Eve.
His address to the nation on New Year's Eve, followed by a public rally in Lucknow on January 2 will be his government and Bharatiya Janata Party's (BJP) effort to help shape political narrative in its favour for the forthcoming assembly polls in five states - Uttar Pradesh, Uttarakhand, Manipur, Goa and Punjab.
Several top government ministers on Thursday held a series of press conferences where they spoke about the "success" that demonetisation has achieved in attaining its objectives. They also countered Opposition allegations. Several opposition parties have planned anti-note ban protests across the country in the first week of January.
According to government sources, the prime minister's address is likely on the evening of December 31, but said the possibility of advancing it to the evening of December 30 remained open. In his speeches at public rallies on November 13 in Belgaum and Goa, the prime minister had asked people to bear 50-days of "pain", which he said will expire on December 30. "Help me build the India of your dreams", the prime minister had said and promised "gains" after the "pain".
In his New Year's Eve address, the prime minister is likely to laud the people for supporting note ban and present a report card on how it has impacted terrorism, Naxalites, counterfeit currency and black money. He might also announce the next step in his government's fight against corruption and black money. The prime minister has repeatedly spoken about launching a crackdown on benami properties.
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As Finance Minister Arun Jaitley on Thursday indicated, the prime minister would also detail the gains from note ban. He might also deliver on his promise of "gains", in the form of announcing schemes for the poor and farmers, after 50-days of note ban "pain".
In his public speeches since November 8, the prime minister has spoken about "gains" like cheaper loans from cash rich banks to the poor, housing for all, free medicines for elderly, better schools and colleges. He has also talked about how note ban was just one of several decisions his government was set to take against corruption.
The polls are scheduled for mid-February to mid-March, with the Election Commission set to announce polling dates on or after January 4. The Election Commission has issued instructions to the administrations in these five states to strictly implement its 'model code of conduct' as soon as the poll dates are officially announced.
The code bars the government from announcing any new schemes. However, the government will have another opportunity in the form of the union Budget, to be presented on February 1, to announce allocations for pro-poor and pro-farmer schemes. Government strategists insist that the Budget does not fall under the ambit of the code as it's a constitutional exercise. In 2012, the Congress-led United Progressive Alliance (UPA) government had postponed the presentation of the budget to after the completion of the elections in these five states.
On Tuesday, Modi met economists and experts at a meeting in Niti Aayog to discuss the current economic situation. On Thursday, Finance Minister Arun Jaitley, Information and Broadcasting Minister M Venkaiah Naidu, Law Minister Ravi Shankar Prasad, Agriculture Minister Radha Mohan Singh, Coal and Power Minister Piyush Goyal held press conferences.
Naidu said "re-monetisation was part of grand anti-corruption strategy for the benefit of common man consistent with the 2014 mandate" and "an anti-scam vaccine".
Naidu didn't share any data, but said: "If somebody is keen to jump to the conclusion based on the deposits made in banks that there is hardly any black money in the economy, they would be wrong. Such deposits only mean that the black money which till the other day had no address, now gets an address on reaching banks."
He said big deposits will be scrutinised. "High value notes reaching banking system in itself is the significant achievement as now there is a trail," Naidu said adding, "By announcing note ban the PM mounted a tiger, as is being said by critics... Modi knows how to dismount a tiger, as he had done so many times in the past."
