×

Akhilesh Yadav says black money helped country’s economy during recession

The UP chief minister had earlier said the government has caused immense pain to commoners with the decision
Akhilesh Yadav : CM Uttar Pradesh

Uttar Pradesh Chief Minister Akhilesh Yadav on Tuesday said that black money helped the Indian economy in times of global recession.

Talking to media on the sidelines of Indo-Myanmar-Thailand Friendship Car Rally flag off in Lucknow, the young Samajwadi Party leader said the economic experts believe that the unaccounted money saves the country’s economy  during such crisis.

“I am very clear on this…black money should not be generated. Economic experts say the magnitude of the global economic crisis at times is not felt in India because of strong (parallel) economy of black money,” Akhilesh said.

“I am opposed to black money, I do not want it,” he added.

Adding the demonetisation will not serve the purpose of checking black money, the UP chief minister had earlier said the government has caused immense pain to commoners with the decision.

“It’s good that corruption is checked and people become aware that there should not be (any) corruption. But this problem cannot be overcome merely by changing Rs 500 and Rs 1000 notes…Those who used to keep such notes are now waiting for Rs 2000 notes…,” Akhilesh said on Saturday.

Meanwhile, the Supreme Court today issued notice to the Central government over the demonetisation of the Rs 1000 and Rs 500 notes announced by Prime Minister Narendra Modi on November 8.

The court directed the Centre to file an affidavit on how to overcome the difficulties being faced by people to access their accounts and to deposit their old notes in exchange for the new notes.

Top