Black money helped Indian economy during global recession says Akhilesh Yadav

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LUCKNOW: Uttar Pradesh chief minister Akhilesh Yadav on Tuesday in a controversial remark against Prime Minister Modi’s decision of demonetization of Rs.500 and Rs.1000 currency notes said that economists were of the opinion that black money helped the Indian economy in times of global recession.

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“I am sure about this…black money ought not be produced. Economic specialists say the amount of the worldwide financial crisis at times is not felt in India in light of strong (parallel) economy of black money,” he said.

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“I am against black money. I don’t need it,” he said on the sidelines of Indo-Myanmar-Thailand Friendship Car Rally signal off here.

His comments come in the wake of the administration’s sudden choice to demonetise Rs 500 and Rs 1000 notes to stamp out black money, bringing about serpentine lines outside banks and ATMs.

Akhilesh additionally said that whichever government had grieved poor people, it was demonstrated the entryway by the masses. “This legislature has brought about tremendous agony to ordinary citizens,” he said.

The central pastor was of the view that demonetisation won’t effectively check black money.

“It’s great that defilement is checked and individuals get to be mindful that there ought not be (any) debasement. In any case, this issue can’t be overcome simply by changing Rs 500 and Rs 1000 notes…Those who used to keep such notes are presently sitting tight for Rs 2000 notes…,” Akhilesh had said on Saturday.

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