UP CM Akhilesh Yadav says Black Money good for India | Corruption
LUCKNOW: Samajwadi Party is no stranger to black money and its leaders seem to have good explanations for it. In a highly controversial remark, Uttar Pradesh Chief Minister Akhilesh Yadav today said ‘economists’ were of the opinion that black money helped the Indian economy in times of global recession.
Akhilesh did not give the name of those ‘economists’. However, his remarks seem to support Narendra Modi’s rationale that those political parties with black money are most hurt and they are protesting against the move.
“Economic experts say the magnitude of the global economic crisis at times is not felt in India because of strong (parallel) economy of black money,” he said.
His remarks come in the wake of the government’s sudden decision to demonetise Rs 500 and Rs 1000 notes to stamp out black money, resulting in serpentine queues outside banks and ATMs.
The chief minister was of the view that #demonetisation will not serve the purpose of checking black money.