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Prime Minister Narendra Modi likely to address the nation on New Year’s Eve regarding Demonetised Notes

The address is expected at 7:30 in the evening.

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Urja Ganga Project,an ambitious Gas pipeline in the eastern region of the country
Prime Minister Narendra Modi, Wikimedia

December 29, 2016: As the 50-day period for depositing the demonetized notes is expiring on 30th December, Prime Minister Narendra Modi is likely to address the nation on New Year’s Eve through Doordarshan.

Though it is not clear what the speech will be about, speculation is that he might speak on the economy problems after the demonetization was announced.

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On November 8, prime Minister announced to demonetize Rs. 500 and Rs. 1000 notes to curb the black money generation and fake currency. The decision had a deep impact on the economy and lives of the people. It resulted in a major cash crunch as demonetization affected the 86 percent of the currency.

The RBI was not prepared and the government was not able to deal with the situation as the printing of replacement currency of Rs. 2000 notes and the new Rs. 500 notes was slow and was not able to meet the rising demand. Moreover, frequent changing of rules regarding the cash withdrawal and deposit has made the public more confuse.

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For the past few weeks, Prime Minister Narendra Modi has been urging people in the public meetings to bear the pain and has assured that once the 50-day period is over; the situation would start easing gradually.

On Tuesday, Modi met economists at a meeting in Niti Aayog to discuss the present economic condition of the nation.

Heading the government’s campaign on demonetization, Narendra Modi has a packed schedule in 2017. On January 2, he will be in Lucknow and then visit Patna on January 5. Though he has official engagements, but he is most likely to give a push to the cashless economy.

Prepared by Diksha Arya of NewsGram. Twitter: @diksha_arya53

Next Story

Modi Inaugurates Patna Metro Rail Project Through Video Conferencing

The Patna Metro Rail project will cost about Rs 13,365.77 crore. It comprises two corridors of a total length 31.39 km.

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narendra modi, patna metro
Modi also opened the city's gas distribution at Patna and the Patna River Front Development's first phase. Pixabay

Prime Minister Narendra Modi on Sunday laid the foundation of the much-awaited Patna Metro Rail through video conferencing from Begusarai in Bihar.

Modi also opened the city’s gas distribution at Patna and the Patna River Front Development’s first phase.

The Prime Minister then launched the expansion work of Barauni’s oil refinery which would be increased to 9 million tonnes and other projects estimated to cost Rs 33,000 crore.

The Patna Metro Rail project will cost about Rs 13,365.77 crore. It comprises two corridors of a total length 31.39 km.

Narendra Modi, Patna metro
The project is expected to be completed in five years from the date of commencement. Wikimedia

In the first phase, a 33.1-km-long track having two corridors — east-west and north-south — will come up in Patna.

The west-east corridor would run between Danapur and Patna railway station via Dakbungalow Square while the south-north corridor would run between the Inter-State Bus Terminal and Gandhi Maidan via Rajendra Nagar and Ashok Rajpath.

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The project is expected to be completed in five years from the date of commencement.

Earlier, Modi flew into Patna and was welcomed by Governor Lalji Tandon and Chief Minister Nitish Kumar. All of them then took a helicopter to Begusarai, 130 km from Patna. (IANS)