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Shah defends demonetisation, says it expanded India’s formal economy

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9 years ago

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[vc_row][vc_column][vc_column_text]BJP national president tells FICCI that dip in GDP growth to 5.7 per cent was due to “technical reasons”

At a time when Reserve Bank of India’s (RBI) report stating that 99 per cent of demonetised notes had been deposited with various banks has unleashed renewed criticism of Prime Minister Narendra Modi’s maverick move, BJP national president Amit Shah, on Saturday, pitched a new defence of noteban, asserting that it had expanded India’s “formal economy”.

Addressing an interactive session organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) in New Delhi on Saturday, Shah said: “I definitely believe that the formal economy has increased due to demonetisation. Money lying at various places is now part of the economy.”

Asserting that declaring Rs 500 and Rs 1000 notes as no longer legal tender was a “hard decision” taken to boost the Indian economy and that the BJP doesn’t link policy decisions with vote bank, Shah said: “We have taken some decisions for which we have faced severe criticism. But let me make one thing clear that BJP’s Narendra Modi government does not believe in taking decisions that just appear good to people, but it believes in taking decisions that are actually good for people.”

While Prime Minister Modi and his government may have also faced flak for offering different figures of new tax payers brought under the income tax net in the past three years – and especially since demonetisation – Shah didn’t shy away from giving his own numbers.

“Those people who are asking about the benefits of demonetisation, I would like to tell them that since independence, we were able to add only 3.7 crore in our tax payer base…In last three years, we have increased the number of taxpayers from 3.7 crore to 6.3 crore. This shows that our economy is growing, and our transparency is also growing, but for this, some of the difficulties have to be faced right now,” the BJP president said.

Shah, however, conceded that the BJP “may have faced” or could face in the future some “political losses” due to demonetisation but qualified his statement by saying that it was a risk that the party was willing to take “in the interest of the country”.

He also asked the business community to “encash” the “Brand India” built by the government globally and claimed that the NDA dispensation’s most significant contribution was that it had transformed the “scale of thinking“.

The Modi government was focusing on long-term goals rather than short-term gains, Shah said, adding that direct benefit transfers now reach 36 crore people from 8.5 crore in 2014 and saved over Rs 59,000 crore in subsidies. Earlier, this money would have disappeared due to corruption, he said.

Shah also played down the dip in the GDP growth rate to 5.7 per cent in the last quarter, saying it was due to some “technical reasons” and added it had gone up to 7.1 per cent after falling to 4.7 per cent in 2013-14 when the UPA was in power.

The BJP president also touched upon the issue of banks’ non-performing assets (NPAs), seen as a drag on the economy, saying the Modi government had inherited these bad loans and none of them happened during its tenure. It was a very “courageous move” of the Modi dispensation to ask banks to bring NPAs to their books, he said.

“The issue (of NPAs) is looked at politically. But I want to make it very clear that none of these loans which turned NPAs were offered during our government. Opposition targets us saying so many accounts have turned into NPAs. But not a single account is from our time. We have inherited it,” he said.

The Union government along with states had taken over 7,000 decisions to increase the ease of doing business, he said, adding: “Some critics of our government claim that development has stalled but I would like to tell them not to look at statistics but travel around to find development.”[/vc_column_text][/vc_column][/vc_row]

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Amit Shah praises Dharmendra Pradhan’s resignation, says Nation above post

Amit Shah hailed Dharmendra Pradhan’s resignation as Union Education Minister, saying BJP places the nation and students above any position while highlighting the government’s commitment to examination reforms.

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17 hours ago

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July 26, 2026

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Amit Shah

Union Home Minister Amit Shah on Saturday praised Dharmendra Pradhan’s decision to step down as Union Education Minister, saying the move reflected the Bharatiya Janata Party’s commitment to placing the nation and students above any political position.

In a post on X, Shah said that for BJP workers, the country, its youth and students are more important than any office. He described Pradhan’s resignation as an example of the party’s guiding principle of prioritising national interest over personal ambition.

Shah highlights government’s focus on exam reforms

Amit Shah said the Narendra Modi-led government respects the sentiments of students and remains committed to strengthening the examination system following concerns over alleged paper leaks.

He said the Centre has introduced strict measures to ensure severe punishment for those involved in examination paper leaks and expressed confidence that these steps would deliver justice to students who cleared the National Eligibility-cum-Entrance Test (NEET).

Praises Pradhan’s work as Education Minister

Recalling Dharmendra Pradhan’s tenure, Shah highlighted several initiatives undertaken during his time in the Education Ministry. He credited Pradhan with helping implement the National Education Policy (NEP), expanding PM SHRI schools, promoting digital education, strengthening skill development and improving coordination between industry and academic institutions.

Shah also said Pradhan worked towards making examinations more inclusive and student-centric, adding that his tenure reflected his commitment to the vision of a developed India.

Resignation follows NEET controversy

Dharmendra Pradhan’s resignation comes amid nationwide protests over alleged irregularities in the NEET examination and growing demands for accountability.

The resignation has triggered political reactions across party lines. While opposition parties have described the development as a result of sustained student protests, BJP leaders have projected it as an example of accountability and commitment to national interest.

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Assam flood death toll rises to 66, over 6.5 lakh people still affected

Assam’s flood situation improved slightly on Saturday, but more than 6.54 lakh people remain affected in six districts. Four fresh deaths have pushed the state’s flood toll to 66.

Published

17 hours ago

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July 26, 2026

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Assam floods

The flood situation in Assam showed marginal improvement on Saturday, though the disaster continued to impact more than 6.54 lakh people across six districts. Four more deaths were reported during the day, taking the total number of fatalities in this year’s floods to 66.

According to the Assam State Disaster Management Authority (ASDMA), three of the latest deaths were reported from Sivasagar district, while one person lost their life in Charaideo.

The number of affected people declined from over 7.05 lakh across nine districts on Friday to 6,54,800 across six districts on Saturday, indicating a gradual improvement in the overall situation.

Sivasagar remains the worst-hit district

Among the affected districts, Sivasagar continues to be the worst hit, with nearly 2.9 lakh people impacted by the floods. Charaideo follows with around 1.9 lakh affected residents, while more than 1.3 lakh people remain affected in Jorhat.

The other districts still facing flood-related challenges are Dibrugarh, Golaghat and Nagaon.

Relief operations continue across affected areas

The ASDMA said the state administration is operating 274 relief camps and aid distribution centres across the affected districts. Around 18,902 displaced people are currently taking shelter at these facilities.

The latest daily bulletin also stated that floodwaters have inundated 810 villages across the state, while 34,970.8 hectares of agricultural land have suffered damage.

Rivers flowing above danger level

The floods have also damaged embankments, roads, bridges and other public infrastructure in several areas.

Authorities said the Dikhou River in Sivasagar and the Dhansiri River at Numaligarh are flowing above the danger level, and officials continue to closely monitor the situation.

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UP Government forms new SIT led by 3 IPS officers to probe Ayodhya Ram Temple donation theft

The Uttar Pradesh government has formed a new SIT led by three IPS officers to investigate the alleged Ram Temple donation theft case in Ayodhya following Supreme Court directions.

Published

17 hours ago

on

July 26, 2026

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Ram Mandir

The Uttar Pradesh government has reconstituted a Special Investigation Team (SIT) headed by IG Kiran S, with DIG Somen Verma and SSP Dr Gaurav Grover as members, to investigate the alleged theft of donations meant for the Ram Temple in Ayodhya. 

The move comes after directions from the Supreme Court, which sought a reconstituted investigation team to ensure an independent and comprehensive probe into the allegations.

The newly formed SIT is expected to continue the investigation and submit a status report before the Supreme Court on July 27.

Senior IPS officers to lead the probe

According to the state government, the investigation will now be supervised by senior IPS officers.  The revamped SIT has been tasked with examining all aspects of the alleged embezzlement of temple donations and carrying the investigation forward.

The Supreme Court had observed that criminal investigations and technical examination of theft-related cases are more effectively handled by experienced police officers, leading to the reconstitution of the SIT under senior IPS leadership.

Probe to continue under court supervision

The case relates to the alleged embezzlement of offerings (chadhava) donated by devotees at the Shri Ram Janmabhoomi Temple in Ayodhya.

The Supreme Court is monitoring the investigation and will review the SIT’s status report at the next hearing.

Authorities are expected to continue examining evidence collected during the earlier stages of the investigation as the newly constituted SIT proceeds with the case.

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