Black money is getting forced back to system: Nirmala Sitharaman

Sitharaman said demonetisation has affected black money hoarders, Maoists and also led to a marked decline in stone pelting incidents in Jammu and Kashmir.

New Delhi, Jan 07: The Bharatiya Janata Party adopted an economic resolution hailing the government's demonetisation move, following which Commerce and Industry Minister Nirmala Sitharaman addressed a press conference where she said old notes deposited in the bank will be used for welfare and development schemes. Sitharaman said demonetisation has affected black money hoarders, Maoists and also led to a marked decline in stone pelting incidents in Jammu and Kashmir.

While addressing a press conference on demonetisation, Sitharaman said that government had offered relief to the poor, middle class, small businesses, farmers, senior citizens and pregnant women. "We are constantly taking steps to ease hardships faced by farmers," she said.

Sitharaman further said that the demonetisation decision was an election promise made in 2015 to wipe off black money. Old notes which have been deposited in the bank will be used by the government in developmental activities.

Prime Minister Narendra Modi will address party workers today at the meeting, which is being attended by former BJP presidents, party Chief Ministers and around 350 party members.

The main focus of the two-day National Executive meet, kicked off on Friday in the national capital, is poll strategy in assembly elections in five states, especially UP.

OneIndia News