Independence Day: From black money to note-ban, 10 things PM Modi said today

In fourth speech as Prime Minister of the country, Narendra Modi spoke about demonetisation drive and continuous effort to fight with black money.

Prime Minister Narendra Modi paid tributes to Mahatma Gandhi at Rajghat. Photo: Official Twitter handle

Prime Minister Narendra Modi on occasion of India's 71st Independence Day addressed the nation from Red Fort, New Delhi.

In his fourth speech as Prime Minister of the country, he spoke about demonetisation drive and continuous effort to fight with black money. "Those who have looted the nation and looted the poor are not able to sleep peacefully today," Modi said.

Here's 10 key highlights of his speech:

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1. Modi said over Rs 1.75 lakh crore deposited in banks post note-ban and more than 18 lakh people with disproportionate income are under government scrutiny.

2. "More than Rs 2 lakh crore black money has reached banks and now people depositing such money are being made to answer questions on their origin," he said.

3. The result of demonetisation has been that this year, the new tax payers (filing returns) has more than doubled to 56 lakh. Last year this was 22 lakh. This is the result of fight against black money.

4. Modi said in a nation where closure of a couple of companies would lead to debates on destruction of economy, more than 1.75 lakh shell companies have been shut. Black money holders hid their wealth behind the veils of shell companies, he said. "After data mining post demonetisation, we have found 3 lakh such companies which are only shell companies."

5. You will be surprised to know that there are 400 shell companies operating from same address. There was no enquiry and all of it was going on in connivance (between tax evaders and officials). And for this, I embarked on a fight against black money and corruption," he said.

6. Modi said the implementation of Goods and Services Tax (GST), that subsumed over a dozen central and state levies to weave India into one market, has been smooth. "GST has shown the spirit of cooperative federalism. The nation has come together to support GST and the role of technology has also helped," he said.

7. Our fight against corruption and black money will continue. We are working to bring transparency using technology," he said. "We are fighting corruption - for the bright future of India and the wellbeing of our people."

8. More than 18 lakh people have been identified whose income is more than their declared wealth," he said. "And they have to answer questions on how they accumulated such wealth."
Of the 18 lakh, 4.5 lakh people have come out in open and are seeking to amend their "mistakes," he said, adding that one lakh had not paid income tax ever in past.

9. Modi said changing demand and technology is altering the nature of job and his government wants to nurture youngsters to be job creators and not job seekers.

10. Modi said he wants to create an India where poor have a concrete house, electricity and water. "An India where farmer does not have any worry and sleeps peacefully. An India where farmer gets double of what he sows."

(From PTI inputs)

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