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PM Modi's idea of cashless economy is totally unrealistic: Omar

PM Modi's idea of cashless economy is totally unrealistic: Omar

India Blooms News Service | | 27 Nov 2016, 05:28 pm
Jammu, Nov 27 (IBNS): Former Jammu and Kashmir Chief Minister Omar Abdullah on Sunday called implementation of Prime Minister Narendra Modi's concept of 'cashless economy' as 'totally unrealistic idea'.

"I'd love to move to a cashless economy but given the reliability of connectivity in J&K & the absence of points of sale I fear I'd starve," he tweeted.

Abdullah said: "And I live in Srinagar. Imagine asking people in Gurez, Karnah, Keran & other remote areas to dispense with cash!!! Totally unrealistic idea."

Modi on Nov 8 announced his government's decision to ban Rs 500 and Rs1000 currency notes.

Addressing his first 'Mann ki Baat' session after announcing the demonetisation move, Prime Minister Narendra Modi on Sunday reiterated that it will take 50 days for the situation to normalise and appealed to people to opt for cashless transactions.

"When I wanted suggestions from people ahead of this Mann Ki Baat session, most of them wanted me to speak about the Rs.500 and Rs.1000 notes ban in detail. I want to repeat again that this was not an easy call. I had told you earlier also that the initiative will put forward lot of troubles. It will take sometime to overcome the problems," Modi said.

"We have been battling with the disease of black money for the last 70 years. The solution to such a prolonged disease can never be an easy one. I understand the problems faced by you and we are working hard to solve the same, " said the PM.

"Governments, post offices, banks...they are all working very hard and are working with dedication," he noted.

Modi reiterated that the decision to ban high value currency note was taken to benefit the poor section of the society, the farming class and those who had been deprived all along.

He said the youth of the country should take cashless means in the difficult times.

"Youngsters are agents of change. I appeal to the youth of the country to take the initiative to usher in a cashless society," the PM said.

He advised them to opt for online transactions which are safe and secure.

The youngsters were also asked by the PM to instruct others around them, especially the elderly on the processes to book tickets and make purchases online.


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