Demonetisation Happened to Stop the Game of Cash Stash: PM Modi to Arnab

New Delhi: In an exclusive interview with Republic Media Network Editor-in-Chief Arnab Goswami, Prime Minister Narendra Modi explained demonetisation, digital payments, direct benefit transfer and Aadhaar – the initiatives of his government. In the most trending interview and the nation's most awaited interaction, PM Modi spoke about various topics affecting the nation, including Politics, the Vision for Bharat, and Global Challenges. 

In a one-and-half-hour long interview amidst the ongoing Lok Sabha Elections 2024, PM Modi was at his candid best. PM Modi also spoke on Aadhaar, Mobile (Digital India), Jan Dhan accounts and demonetisation, and how it led to transparency.

PM Modi on corruption

When asked about the corrupt people of the country, including those who are under trial, the Prime Minister said that his government has no tolerance for corruption and has worked towards transparency. "My government has zero tolerance towards corruption. Also, there is no question of compromise. No one can knock on my door for compromise,” said PM Modi.

PM Modi went on to talk about some of the solutions and benefits provided by his government.

PM Modi on Aadhaar, Mobile (Digital India) and Jan Dhan accounts led to transparency

“You have got to work hard and give solutions to the people. We have provided Direct Benefit Transfer of around Rs.35-40 lakh crore to citizens. If what (former PM) Rajiv Gandhi had said was true that Re.1 is sent and 15 paise reaches, then what would have happened of Rs.40 lakh crore? Not even salt’s worth of money would have reached the poor. Today, if Re.1 is sent, 100 paise reaches (no difference in amount),” elaborated PM Modi.

The PM added that this “hasn’t happened overnight”. “For the Jan Dhan scheme, I used to have regular meetings on video conference with banks and my officers to check if the bank accounts for the poor have been opened,” revealed the PM.

“And then came the Aadhaar (Card), in which all the governments were involved. But during the tenure of my government, the political parties tried to create obstacles through the Supreme Court of India. Then Digital India, my movement. So, Aadhaar, Mobile (Digital) and Jan Dhan accounts – the design was clear in my head, it didn’t come later. Because of these things, the system became transparent. Today, a poor person also uses a QR code (Quick Response barcode) on his stall. You will find a QR code in temples as well. It has given rise to a ‘formal economy’, and when that happens, the possibility of corruption reduces,” explained PM Modi.

PM Modi on Demonetisation in 2016

The PM went on to explain why demonetisation was planned in 2016. “Even during the elections, the Supreme Court had said that you can take cash up to Rs.20,000. I made a law and reduced the amount to Rs.2,000-2,500. Then I demonetised the notes of Rs.1,000 and Rs.2,000. Why did I do these things? This was done in order to stop the game of cash stash. All these steps lead to positive things,” said PM Modi.

PM Modi on GeM portal

PM Modi went on to talk about the Government e Marketplace (GeM) portal, an online e-commerce portal operated and maintained by the government departments since 2017. “The third thing was the GeM portal,” explained PM Modi.

“The government needs to buy a lot of things worth lakhs and crores of rupees. These requirements are on the GeM portal. Through the website, the poorest of the poor can sell their products to the government. There is no tender required for it, everything is open and there is an online auction. There is so much transparency. A government must work towards implementing positive changes.”