Narendra Modi defends note ban in Lok Sabha

The timing of demonetisation was perfect, as the economy was doing well, says Modi

The decision to ban high value currencies was dedicated to the poor of the country, Prime Minister Narendra Modi said on Tuesday.

In his reply to the discussion on the motion of thanks to the President’s address, the PM said the timing of demonetisation was perfect, as the economy was doing well. But he did not share any details on the amount of currency returned to the banking system.

Rival political parties have been making the chaos wrought by demonetisation a major plank of their respective election campaigns for the Uttar Pradesh Assembly polls. To counter that, Modi portrayed his government as