4 years on, PM Narendra Modi says demonetisation demolished corruption
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On the fourth anniversary of note ban, Prime Minister Narendra Modi on Sunday said it helped reduce black money, increase tax compliance and formalisation, and gave a boost to transparency.
On November 8, 2016, Modi announced the decision to ban all currency notes of denomination of 500 and 1,000 from midnight.
Taking to Twitter, Prime Minister Modi listed the beneficial outcomes of demonetisation.
“Demonetisation has helped reduce black money, increase tax compliance and formalisation and given a boost to transparency.”
“These outcomes have been greatly beneficial towards national progress,” Modi tweeted with the ‘DeMolishingCorruption’ hashtag. Along with his tweet, the prime minister also shared a graphic on how demonetisation has ensured better tax compliance, improved tax and GDP ratio, made India a lesser cash based economy and gave a boost to national security.
The Congress alleged that the government had continuously changed the explanatory reasons for carrying out the measure four years ago and it has “destroyed” the economy.
Shipping ministry to be renamed: PM Modi
The PM on Sunday said the Ministry of Shipping was being expanded and renamed as the Ministry of Ports, Shipping and Waterways. He inaugurated a Ro-Pax ferry service between Hazira in Surat and Ghogha in Bhavnagar, which will cut the 370-km road between the two places to 90-km by sea route.
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There were 16.58 billion Unified Payments Interface (UPI) transactions worth Rs 23.5 trillion in October, the highest numbers for the digital system since it became operational in April 2016.
UPI’s previous peak was 15.04 billion in volume terms in September 2024 and Rs 20.64 trillion in value in July. Data from previous months shows that the growth in transactions is driven by person to merchant transactions (for buying goods or services), which got a festival season push in October.
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Communist Party of India (CPI) leader D Raja slammed the idea of implementing 'One Nation One Election (ONOE)' saying that there is "strong perception" against such a policy as it will destroy the multi-party democratic system in the country.
"This is the current agenda for PM Modi, nothing else. There is strong public opinion against 'One nation, One election' because there is a perception that it will destroy the multi-party democratic system in the country.
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In view of the upcoming assembly election, Maharashtra Deputy Chief Minister Ajit Pawar visited Malad for the election campaign on Friday.
On October 28, Maharashtra Deputy Chief Minister and NCP chief Ajit Pawar filed his nomination from the Baramati assembly seat. Ajit Pawar split the NCP in June 2023.
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Oil marketing companies have raised the price of commercial LPG cylinders in major cities, with the new rates effective from November 1.
In Delhi, the cost of a 19-kg commercial LPG cylinder has increased by Rs 62, now retailing at Rs 1,802, up from Rs 1,740. This increase follows an earlier hike on October 1, when prices rose by Rs 48.50 to Rs 1,740.
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The morning after Diwali, residents of Delhi, Noida, Gurugram and other areas in the National Capital Region awoke to a thick layer of toxic smog. Many locations in Haryana reported air quality indices (AQI) categorized as 'poor' and 'very poor' during the Diwali celebrations.
In Anand Vihar, Delhi, the AQI reached a concerning 395 at 6 AM on November 1, according to the Central Pollution Control Board (CPCB). The air quality deteriorated further on Diwali night, with PM2.5 levels rising sharply, creating hazardous conditions for respiratory health.
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