• Thursday, May 19, 2022

Business

Modi says cash crackdown is a fight for the poor

Narendra Modi

By: Eastern Eye Staff

India prime minister Narendra Modi on Tuesday (7 )defended his decision to abolish high denomination bank notes that has left the economy reeling, calling it a “fight” for the poor. Modi’s comments came days before the start of a regional assembly election in Uttar Pradesh, a battleground state that is home to one in six Indians and will help determining his chances of winning a second term in 2019. While the decision to outlaw 500- and 1,000-rupee bank notes late last year was part of a broader crackdown on corruption, the sudden withdrawal of 86 per cent of currency in…

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