Short-term pain will lead to long-term gain: PM

EVEN AS Opposition parties protested against demonetisation with black badges, Prime Minister Narendra Modi on Thursday put up a strong defence of demonetisation, saying that the “yagna against corruption, terrorism and black money” will empower the poor and benefit future generations.

Suggesting that the decision was aimed at benefiting rural India, he saluted the people for “whole-heartedly supporting” it. “No longer will the progress & prosperity of rural India be curtailed by corruption & black money. Our villages must get their due,” Modi tweeted.

The PM’S emphasis on the benefitforruralindiacomesamid criticism that people in villages were facing a more severe cash crunch due to poor banking penetration. Modi reiterated that “this short term pain will pave way for long term gains”.

In a series of tweets, he said, “I salute the people of India for wholeheartedly participating in this ongoing yagna against corruption, terrorism & black money. The government’s decision has several gains for farmers, traders, labourers, who are the economic backbone of our nation.”

Reiteratinghispitchforacashlesseconomy,modisaid,“wealso haveahistoricopportunitytoembrace increased cashless payments and integrate latest technologyineconomictransactions.”

Holding that the move would empower the poor, neo-middle class, middle class and future generations, Modi said, “together, we must ensure #Indiadefeatsblackmoney”.

He posted a video clip of his Mann Ki Baat programme in which he appealed to youth to support his cashless drive.

Decision has several gains for farmers, traders: PM