Union Minister of State (Independent Charge) for Development of North Eastern Region (DoNER), Dr Jitendra Singh today said that "demonetisation" will enrich rural economy of India and will benefit those sections of society who were being held to ransom as a result of black money hoarding by a few.
Addressing a public meeting at Jakhbar, Kathua, Dr Jitendra Singh said, the opposition leaders, who are uncomfortable with this decision, are regularly putting out different arguments to challenge it.
The answer to this, he said, is that when a handful of people hoarding unaccounted money obtained through illegitimate means are made to surrender it, this will ultimately end up in reinforcing the country's legitimate exchequer and increase the quantum of money in the banks.
As a result, he said, this would enable the state exchequer to carry forward the Modi Government's pro-poor schemes in a more effective manner by providing higher financial resources, possible reduction in interest rates for loans to the poor, needy and youth entrepreneurs, and raising the overall capacity of fair economic transaction.
Describing Prime Minister Narendra Modi's decision to change the legal order of Rs.500 and Rs. 1000 notes as a decision of the century, Dr Jitendra Singh said, the decision was not taken by any government for the past 70 years because they had their vested interests deeply entrenched in black money and corruption.
Narendra Modi is the only Prime Minister, he said, who could have taken this decision because of his impeccable honesty, sincerity and courage. The entire exercise is motivated keeping in mind the interest of the poorest of the poor and, therefore, ultimately those who had to undergo initial inconvenience during this transition would be the actual beneficiaries, he said.
Dr Jitendra Singh said, the work on Nagri to Palli Morh road will be expedited and the Border Road Organization (BRO) authorities have accordingly been instructed. He said, the Keediyan-Gandiyal bridge road to link Nagri-Palli road via old Samba-Kathua road is also being taken up by BRO, Ministry of Defence.
Dr Jitendra Singh said, in the last two years, Kathua is perhaps the only district in J&K which has been granted both a Medical College as well as an Engineering College, in addition to an AIIMS which is to come up immediately across the outer limit of the district.
With a bio tech park coming up in the vicinity and a "Seed Production" unit also in the offing, Kathua is all set to emerge as a model district of the State of Jammu & Kashmir, he said.
Earlier, senior BJP leader, Janak Bharti welcomed Dr Jitendra Singh and felicitated him for a series of development initiatives introduced by him in the Kathua district.
Prem Nath Dogra, District President BJP, senior BJP leaders including Rashpal Verma, Raghunandan, Gopal Mahajan, Dr Narinder Singh and district Party office bearers were also present on the occasion.