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  • Fact check: BJP minister claims PM Modi never linked black money to demonetisation Minister of State for Finance Shiv Pratap Shukla claimed "The PM never said demonetisation was about black money". We checked out if it is true or not, and here is the truth. Listen to Story India Today Fact Check False A Bharatiya Janata Party (BJP) minister has just left his party and the government red-faced. Minister of State for Finance Shiv Pratap Shukla, in an interview to India Today, claimed "The PM never said demonetisation was about black money". Prime Minister Narendra Modi has on several instances mentioned how demonetisation helped curb black money. On November 8, 2016, when he announced the decision to demonetise high value currency notes, he said, "To eradicate black money and corruption, we need to make another tough decision. From today November 8, 2016 midnight, Rs 500 and Rs 1000 notes will no longer be legal tender." Even during the 71st Independence Day speech, the PM had emphasised on the importance of demonetisation. "Demonetisation has helped a lot in curbing black money. The black money that was hidden is now in public domain. Our aim was that all money coming should become part of the formal economy. According to a research, Rs 3 lakh crore has become part of the system, Rs 1.75 lakh crore deposited in banks is under probe and over Rs 2 lakh crore black money has reached banks. Those who have deposited this amount will now be made answerable," PM Narendra Modi said. Shukla said the money that is not in circulation is considered as black money. It has now reached banks thus the problem of black money is solved. The government faced heavy criticism after RBI's annual report which was issued earlier this week mentioned that 99.3 per cent junk notes were deposited in banks. The opposition parties have been accusing the Modi government of policy failure. According to media reports, Finance Minister Arun Jaitley also announced that the BJP will be celebrating November 8, 2017, as Black Money Day. (If you have something that you want us to Fact Check, please send it to viraltest@aajtak.com) Please share it on our at 73 7000 7000 You can also send us an email at factcheck@intoday.com
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