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Text of Prime Minister s address to the Nation

News and Press Release - Dated:- 8-11-2016 - My dear citizens I hope you ended the festive season of Diwali with joy and new hope. Today, I will be speaking to you about some critical issues and important decisions. Today I want to make a special request to all of you. You may recall the economic situation in May 2014 when you entrusted us with an onerous responsibility. In the context of BRICS, it was being said that the I in BRICS was shaky. Since then, we had two years of severe drought. Yet, .....

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rust has been to empower the poor, and make them active participants in the benefits of economic progress. The Pradhan Mantri Jan Dhan Yojana, the Jan Suraksha Yojana, the Pradhan Mantri Mudra Yojana for small enterprises, the Stand-up India programme for Dalits, Adivasis and Women, the Pradhan Mantri Ujjwala Scheme for gas connections in the homes of the poor, the Pradhan Mantri Fasal Beema Yojana and Pradhan Mantri Krishi Sinchai Yojana to protect the income of farmers, the Soil Health Card Sc .....

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ars back. In spite of many steps taken, we have only been able to reach a ranking of seventy-six now. Of course, there is improvement. This shows the extent to which corruption and black money have spread their tentacles. The evil of corruption has been spread by certain sections of society for their selfish interest. They have ignored the poor and cornered benefits. Some people have misused their office for personal gain. On the other hand, honest people have fought against this evil. Crores of .....

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oney and terrorism are festering sores, holding us back in the race towards development. Terrorism is a frightening threat. So many have lost their lives because of it. But have you ever thought about how these terrorists get their money? Enemies from across the border run their operations using fake currency notes. This has been going on for years. Many times, those using fake five hundred and thousand rupee notes have been caught and many such notes have been seized. Brothers and sisters, On t .....

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016 to curb benami transactions, which are used to deploy black money earned through corruption; • a scheme was introduced for declaring black money after paying a stiff penalty; My dear countrymen, Through all these efforts, in the last two and a half years, we have brought into the open nearly 1 lakh 25 thousand crore rupees of black money belonging to the corrupt. Honest citizens want this fight against corruption, black money, benami property, terrorism and counterfeiting to continue. W .....

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uying land or a house, that apart from the amount paid by cheque, a large amount is demanded in cash. This creates problems for an honest person in buying property. The misuse of cash has led to artificial increase in the cost of goods and services like houses, land, higher education, health care and so on. High circulation of cash also strengthens the hawala trade which is directly connected to black money and illegal trade in weapons. Debate on the role of black money in elections has been goi .....

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s and the interests of honest, hard-working people will be fully protected. Let me assure you that notes of one hundred, fifty, twenty, ten, five, two and one rupee and all coins will remain legal tender and will not be affected. This step will strengthen the hands of the common man in the fight against corruption, black money and fake currency. To minimise the difficulties of citizens in the coming days, several steps are being taken. 1. Persons holding old notes of five hundred or one thousand .....

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rupees per day and twenty thousand rupees per week. This limit will be increased in the coming days. 6. Apart from depositing your notes in your bank account, another facility will also be there. 7. For your immediate needs, you can go to any bank, head post office or sub post office, show your identity proof like Aadhaar card, voter card, ration card, passport, PAN card or other approved proofs, and exchange your old five hundred or thousand rupee notes for new notes. 8. From 10th November till .....

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work. In the first few days, there will be a limit of two thousand rupees per day per card. 12. This will be raised to four thousand rupees later. 13. Five hundred and thousand rupee notes will not be legal tender from midnight. However for humanitarian reasons, to reduce hardship to citizens, some special arrangements have been made for the first 72 hours, that is till midnight on 11th November. 14. During this period, government hospitals will continue to accept five hundred and thousand rupe .....

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2 hours, five hundred and thousand rupee notes will be accepted also at • Petrol, diesel and CNG gas stations authorised by public sector oil companies • Consumer co-operative stores authorised by State or Central Government • Milk booths authorised by State governments • Crematoria and burial grounds. These outlets will have to keep proper records of stock and collections. 19. Arrangements will be made at international airports for arriving and departing passengers who have .....

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rs, In spite of all these efforts there may be temporary hardships to be faced by honest citizens. Experience tells us that ordinary citizens are always ready to make sacrifices and face difficulties for the benefit of the nation. I see that spirit when a poor widow gives up her LPG subsidy, when a retired school teacher contributes his pension to the Swacch Bharat mission, when a poor Adivasi mother sells her goats to build a toilet, when a soldier contributes 57 thousand rupees to make his vil .....

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his Imandaari ka Utsav, this Pramanikta ka Parv, this celebration of integrity, this festival of credibility. I am sure that all political parties, all governments, social services organizations, the media and indeed all sections of the society will take part in this with enthusiasm and make it a success. My dear countrymen, Secrecy was essential for this action. It is only now, as I speak to you, that various agencies like banks, post offices, railways, hospitals and others are being informed. .....

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based on currency needs, the Reserve Bank with the approval of the Central Government brings out new notes of higher value. In 2014, the Reserve Bank sent a recommendation for issue of five thousand and ten thousand rupee notes. After careful consideration, this was not accepted. Now as part of this exercise, RBI s recommendation to issue two thousand rupee notes has been accepted. New notes of five hundred rupees and two thousand rupees, with completely new design will be introduced. Based on p .....

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