Demonetization of Rs 500 and 1000 good move by Modi, People Should not panic – Palemar

Demonetization of Rs 500 and 1000 good move by Modi, People Should not panic – Palemar

Mangaluru: “People should not panic or get confused, due to the demonetization of Rs 500 and Rs 1000 currency notes. The move by Prime minister Narendra Modi to demonetize Rs 500 and Rs 1000 is a bold decision to curb corruption and bring out the black money. Sufficient currency will be printed and supplied to the banks and ATMs. Within a month business will be stable”, said the former district minister in charge, Krishna J Palemar in a press meet held at the BJP office here on November 15.

Addressing the mediapersons Palemar said, “The demonetization of Rs 500 and 1000 will bring changes in the country. There are 23% of Rs 100, 44% of Rs 500 and 24% of Rs 1000 denominations of currency in the country. There are fake notes of Rs 500/1000 which are in use. To eliminate corruption and to save the country from the Terrorists, the demonetization of Rs 500 /1000 was the need of the hour. People should co-operate with the government to eliminate corruption”.

Palemar further said, “During the development of the economy, the value of the Rupee will increase. People will invest in gold and there will be transparency in the exchange of money. Various businesses such as Real estate, education, health sectors will deal according to the law. The demonetization of Rs 500/1000 will help the economy of the country to grow and stop the circulation of black money. The government can take action against unaccounted wealth, illegal property, foreign currency and investment on illegal property”.

Congratulating the move by PM Modi, Palemar said, “As soon as the prime minister ordered the demonetization of Rs 500 and 1000 the president of India congratulated PM Modi for his brave decision. Even the media appreciated the move by the prime minister. Earlier our enemy country was bribing the people of Jammu and Kashmir paying them money for pelting stones on the vehicles of our security forces. But after the demonetization of Rs 500 and 1000 such incidents stopped. The bigger value notes were misused and many fake notes were in use. To maintain internal security such move was the need of the hour”.

When posed the question of demonetization of Rs 500 and 1000 notes for the security of the country, how come the Rs 2000 a much bigger value note was printed and how it will provide security, Palemar said that there was a request for bigger value notes of Rs 5000 and 8000 but it was rejected.

When asked about his comment on minister Tanveer Sait viewing pictures of a semi-clad woman during a government sponsored programme, Palemar refused to answer and said that he will call a separate meeting to address the issue.

Dr Bharat and others were also present.