India will emerge like ‘Golden Bird’ after demonetisation: Modi

Photo of India's Prime Minister Narendra Modi during a public rally in the city of Taj Mahal.

Agra: Prime Minister Narendra Modi today said that country will emerge victorious after the Centre’s demonetisation decision that was a “test by fire”.

Modi gave this statement during a public rally in the city of the Taj in Uttar Pradesh, “As I said on the very first day when I announced the decision, it is a time-consuming process. It will cause inconvenience and a little hardship but, I believe, the nation will come out victorious from this test by fire.”

He said his government has been flexible in implementing the demonetisation decision and effected alterations as the need arose.

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He added, “I have asked for 50 days. It’s been just 10 days and over 5,000 crore rupees have already been deposited in banks… the banks will infuse this money in the markets.”

After long queues at banks and automated teller machines for exchanging notes or withdrawing money, Modi had appealed to the public to give him 50 days for the implementation of the demonetisation decision wherein the old Rs 500 and Rs 1,000 currency notes were banned as legal tender effective November 8 midnight.

The Prime Minister said he did not take the demonetisation decision to trouble anyone but for the good of the coming generations.

Earlier, the Prime Minister launched the Pradhan Mantri Awas Yojana (Grameen) and inaugurated the fourth Mathura-Palwal railway line.

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During his speech he also expressed grief over the loss of lives in one of the worst rail disasters in the country, in which more than 117 persons were killed and around 200 injured when 14 coaches of the Indore-Patna Express derailed near Kanpur in Uttar Pradesh before dawn on Sunday.