PM Narendra Modi sums up India's demonetisation journey

NEW DELHI: Prime Minister Narendra Modi has spoken of little else but demonetisation on the election trail. However, during an interview with a TV channel, he highlighted the problems that have been neutralised.

Here is all that he said:

1) Money held by terrorists, Maoists and human traffickers has been neutralized.

2) Frequent changes were required to nullify any attempts by miscreants to convert black money into white.

3) When money returns to the bank, it loses its anonymity. Now it is traceable.

4) The Government has the mechanism and the time to seek hoarders of black money out.

5) The multiplier effect from the money which was uselessly hoarded will not be used for nation building.

6) Demonetisation was for long term structural gain. The aim was to clean up the economy and give it a fillip.

7) Earlier the income tax department used to shoot in the dark. Now all the money is in accounts now.

9) PM's govt has zero tolerance for corruption.

10) Digital transactions should continue and not just offer a stop gap arrangement until cash comes back.

11) Digital transactions offer greater transparency and accountability.

12) Demonetisation coupled with election reforms will also give the nation and economy a big boost against black money.