Prime Minister Narendra Modiís decision to demonetize 500 1000 rupees notes stirred a revolution

 Most of us questioned about Narendra Modi’s promise of giving back the black money hoarded by the corrupt people of the country. Their waiting period just completed with Prime Minister Modi’s recent announcement of demonetizing the 500 and 1000 value of currencies. Now as the 500 and 1000 notes have become defunct, people possessing these notes can exchange the notes for new currencies from the banks; however an individual can only deposit 2.5 lakh of defunct notes tax-free. Above 2.5 lakhs, tax will be applicable as per 200% penalty.

 

There will not be any harassment from income tax authorities for people possessing 1.5 lakh to 2 lakh of cash at home.

 

Narendra Modi delivered an emotional speech saying for the country’s welfare as well as for the welfare of the poor countrymen such a drastic step is necessary. Modi in his emotional speech appealed the countrymen to support him for 50 days on his mission to eradicate black money from the country.

Narendra Modi also told the public that his life has been in danger ever since he has announced the demonetize 500 1000 from the country. He said powerful people who are against this move can try to kill him but at the same time he also uttered that he is not scared of them.

 

 

 

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By : | Category : News| Sub Category : India News|Date : November 13,2016

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