Two days after BJP MPs from eastern UP warned the party that its electoral prospects in the poll-bound state could be affected if the cash crunch is not resolved by mid-January, Prime Minister Narendra Modi blamed the Congress for the problems facing the country and said such a situation would not have arisen had the late Indira Gandhi shown the courage to demonetise high value currency in the early 1970s.
Addressing BJP MPs on Friday, the last day of the winter session of Parliament, Modi indicated that the government could come up with more measures to “free” the poor and middle class from “exploitation” and the country from corruption and black money.
He said if small traders switch to digital transactions, there will soon be a day when they will get loans in six minutes. Pointing out that that one has to fill several documents and wait a long time for a loan to be sanctioned, he said: “There can be a situation… I can see it very vividly, from the platform of the Indian government. When a trader does online transaction, it’s online and his turnover is clear. I can see such a day… if that trader wants a loan, it will take maximum six minutes. With this technology, he will get Rs 25,000 or 50,000 in six minutes.”
