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Modi tries to reach out on OROP, says he knows what army men feel

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Kochi: Prime Minister Narendra Modi on Tuesday reached out to the armed forces over the ‘One Rank One Pension’ (OROP) issue, and said he knows how officers feel when they are not promoted.

The OROP scheme approved by the government has not gone well with the veterans, with the agitation at New Delhi’s Jantar Mantar protest site continuing for the 185th day on Tuesday.

Modi said the government will start programmes for skill training of retired officers.

“I know how an officer, in the prime of his youth, feels when he does not make the next grade, not because he was not outstanding or was less deserving, but because the room above was small,” Modi said at the Combined Commanders’ Conference held on board INS Vikramaditya.

“So, to honour your service and uphold your welfare will always be our solemn duty… For this reason, we have moved with speed to implement the One Rank One Pension promise that had remained unfulfilled for decades,” Modi said.

“And, we will build the National War Memorial and Museum that you so richly deserve in the heart of our nation’s capital.”

OROP, a war memorial and a veterans’ commission are the three demands from the ex-servicemen groups.

“We will also improve skills and opportunities for our ex-servicemen, so that when they leave the service, they can still serve the nation with pride and dignity,” he added.

Modi also paid tributes to the security forces.

Their valour and sacrifices defeat terrorism in Jammu and Kashmir, reduce the violence of Left-wing extremism and keep our northeast more peaceful,” he said.

The conference was attended by Defence Minister Manohar Parrikar, Defence Secretary G. Mohan Kumar, Indian Air Force chief Air Chief Marshal Arup Raha, Indian Army chief General Dalbir Singh and Indian Navy chief Admiral R.K. Dhowan along with top commanders of the three Services.(IANS)

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The Answer to The Impending Questions On Demonetization Are Here

While it did broaden the country’s tax base, it was a nightmare for the immense, cash-dependent informal economy.

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Indian Currency. Pixabay

Nearly all of the currency removed from circulation in a surprise 2016 attempt to root out illegal hoards of cash came back into the financial system, Resever Bank of India  has announced, indicating the move did little to slow the underground economy.

Prime Minister of India, Narendra Modi’s currency decree, which was designed to destroy the value of billions of dollars in untaxed cash stockpiles, caused an economic slowdown and months of financial chaos for tens of millions of people or demonetization.

Modi announced in a November 2016 TV address that all 500-rupee and 1,000-rupee notes, then worth about $7.50 and $15, would be withdrawn immediately from circulation. The banned notes could be deposited into bank accounts but the government also said it would investigate deposits over 250,000 rupees, or about $3,700. The government eventually released new currency notes worth 500 and 2,000 rupees.

 

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An activist of Congress party hold the banned 500 and 1000 rupee notes.

 

In theory, the decree meant corrupt politicians and businesspeople would suddenly find themselves sitting on billions of dollars in worthless currency, known here as “black money.”

“A few people are spreading corruption for their own benefit,” Modi said in the surprise nighttime speech announcement of the order. “There is a time when you realize that you have to bring some change in society, and this is our time.”

But even as the decree caused turmoil for those in India who have always depended on cash — the poor and middle class, and millions of small traders — the rich found ways around the currency switch. In the months after the decree, businesspeople said that even large amounts of banned currency notes could be traded on the black market, though middlemen charged heavy fees.

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Prime Minister Narendra Modi along with mayor, flickr

The reserve bank of India report said in its Wednesday report that 99.3 percent of the $217 billion in notes withdrawn from circulation had come back into the economy. Some officials had originally predicted that number could be as low as 60 percent.

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“Frankly, I think demonetization was a mistake,” said Gurcharan Das, a writer and the former head of Proctor & Gamble in India. He said that while it did broaden the country’s tax base, it was a nightmare for the immense, cash-dependent informal economy.

“You can’t overnight change that in a country which is poor and illiterate. Therefore, for me it’s not only an economic failure but a moral failure as well,” Das said. (VOA)