Sun, Aug 20, 2017 | updated 09:48 AM IST

Demonetization will be beneficial in long term: LS Speaker

Updated: Nov 09, 2016 20:24 IST      
Demonetization will be beneficial in long term: LS Speaker

New Delhi [India], Nov. 9 (ANI): Lauding the Centre's move of demonetizing 500 and 1000 rupee notes in a crackdown against corruption and black money, Lok Sabha Speaker Sumitra Mahajan on Wednesday said that it would cause inconvenience for short period but will prove to be beneficial in the long run.

"It's a very good decision. It needs strength and Narendra Modi ji has shown that. Its results will be good. It will cause inconvenience for short period but is beneficial in long term. I will urge all to cooperate. This decision is in favour of the nation. It will take time to yield results," Mahajan told ANI.

Union Finance Minister Arun Jaitley has said the government's decision will move the country towards a cashless economy.

Reassuring the people that those having lawful money would have nothing to fear, Jaitley said this is a major setback to the parallel black money economy because a lot of currency operating outside the system will now have to be brought into the banking system.

"The government believes that this decision has been welcomed everywhere. This major step with help India's credibility," he told the media in New Delhi.

The Finance Minister further said this decision will change the way people spend and keep their money.

He also said the decision is of significant advantage to the economy, adding both the Centre and states will benefit from with more revenue accruing in the economic system. (ANI)

Muzaffarnagar [U.P.], Aug. 20 (ANI): With restoration work underway at the site of the deadly Utkal Express derailment here where the death loss has now mounted to 23, all the trains on the Meerut line have been cancelled or diverted till 6 p.m.

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New Delhi [India], Aug 20 (ANI): The entire Gandhi family including Congress President Sonia Gandhi, Vice-President Rahul Gandhi and Priyanka Vadra on Sunday paid tribute to former Prime Minister Rajiv Gandhi on his 75th birth anniversary in the national capital.

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Ramdas Athawale bats for SC, ST reservation in Indian Army

Updated: Aug 20, 2017 08:27 IST     

Mumbai (Maharashtra), Aug. 20 (ANI): Union Minister of State for social justice, Ramdas Athawale on Saturday appealed to Prime Minister Narendra Modi seeking reservation for the Scheduled Castes (SC) and Scheduled Tribes (ST) in the Indian Army.

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Muzaffarnagar [U.P.], Aug. 20 (ANI): Rescue and relief operations are in full swing at the site of the deadly train derailment here where the death loss has now mounted to 23.

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Muzzafarnagar (Uttar Pradesh) [India] August 20 (ANI): The passengers of the derailed Puri-Haridwar-Kalinga Utkal Express rescued injured passengers till the government help arrived.

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New Delhi [India], Aug 20 (ANI): The Janata Dal (United) on Sunday reiterated that party leader Sharad Yadav will face action if he attends Rashtriya Janata Dal (RJD) supremo Lalu Prasad Yadav's rally.

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New Delhi [India], Aug 20 (ANI): Retorting to the video showing skirmish between Indian and Chinese forces in Ladakh, Defence Expert P.K. Sehgal on Sunday said that the visuals have vindicated New Delhi's stand made by the Indian Army on Independence Day.

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New Delhi [India], Aug 20 (ANI): The Congress on Sunday said politicos who are thinking of taking action against Janata Dal (United) veteran Sharad Yadav should introspect.

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Siliguri (West Bengal) [India] August 20 (ANI): A civic police volunteer was killed and another policeman was injured in a bomb blast at Kalimpong police station gate on Saturday night.

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Muzaffarnagar (Uttar Pradesh) [India], Aug 20 (ANI): Odisha Chief Minister Naveen Patnaik on Sunday announced compensation of Rs five lakh to the next kin of Odia passengers who lost their lives in the Puri-Haridwar Utkal Express derailment tragedy.

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Nitish's formal entry in NDA silenced critiques: Paswan

Updated: Aug 20, 2017 03:15 IST     

New Delhi [India], Aug 20 (ANI): Union Minister Ram Vilas Paswan on Sunday said that Bihar Chief Minister Nitish Kumar's formal entry in the National Democratic Alliance (NDA) has silenced the critiques who questioned the newly stitched partnership.

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Modi Govt. blatantly ignoring Railway safety, says Congress

Updated: Aug 20, 2017 03:11 IST     

New Delhi [India], Aug 20: The Congress on Sunday questioned efforts of Prime Minister Narendra Modi-led government in ensuring Railway safety and demanded strong initiatives in this regard to prevent Muzaffarnagar type rail accidents from occurring.

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Telangana CM nominated for Agriculture Leadership Award 2017

Updated: Aug 19, 2017 23:36 IST     

New Delhi [India], Aug. 19 (ANI): Telangana Chief Minister Chandrashekhar Rao has been nominated for the Agriculture Leadership Award 2017 by the Indian Council of Food and Agriculture.

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Muzaffarnagar (Uttar Pradesh) [India], Aug. 19 (ANI): Rescue operations are over and restoration works have begun following the deadly Puri-Haridwar-Kalinga Utkal Express derailment, which has claimed 23 lives so far.

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Uma Bharti to take stock of UP, Bihar floods next week

Updated: Aug 19, 2017 23:34 IST     

New Delhi [India], Aug 19 (ANI): Union Minister for Water Resources, River Development and Ganga Rejuvenation Uma Bharti chaired a high level meeting to review the flood situation in the country and the actions being taken at the national level in New Delhi today.

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New Delhi [India], Aug 19 (ANI): Indian Army Chief General Bipin Rawat will visit Ladakh on Sunday, to take stock of the security situation amid the continuing stand-off at Doklam near Sikkim.

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Srinagar: "Mysterious" blast near BJP office, no casualties

Updated: Aug 19, 2017 22:40 IST     

Srinagar (Jammu & Kashmir) [India], Aug 19 (ANI): A mysterious blast near the office of Bharatiya Janata Party (BJP) created panic at Jawahar Nagar in Srinagar on Saturday evening.

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259 killed in 27 train accidents under Modi Govt.: Congress

Updated: Aug 19, 2017 22:40 IST     

New Delhi [India], Aug. 19 (ANI): The Congress Party on Saturday launched a scathing attack on Prime Minister Narendra Modi over the recent derailment of the Puri-Haridwar-Kalinga Utkal Express, near Khatauli railway station in Muzaffarnagar and accused the Centre for being careless regarding the safety of the passengers travelling with the Indian Railways which has claimed so many lives in past three years.

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Muzaffarnagar (Uttar Pradesh) [India], August 19 (ANI): The Northern Railways calling the Muzaffarnagar tragedy an "unfortunate incident," have said that there are over 30 injuries and few casualties where the actual figures are being verified.

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Muzaffarnagar (Uttar Pradesh)[India], Aug. 19 (ANI): The death toll in the deadly Puri-Haridwar-Kalinga Utkal Express derailment has mounted to 23, while the injured are being counted at 40 so far.

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