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“The dream of cashless economy is a bigger one than ‘achche din’, it is however for the government to see how it will be realised,” said UPCM Akhilesh Yadav at a function to show his respect to victims of note ban. He distributed cheques to the families of martyrs and 14 people who allegedly lost their lives while standing in queues outside ATMs or banks after demonetisation. The young CM gave a compensation of Rs. 2 lakh each to the kin of ‘demonetisation victims’ making Uttar Pradesh the first state to announce any sort of relief for families who lost their family members to this scheme.

Akhilesh Yadav invited their families to express his deep regrets and also offered them financial aid to run their household. The Chief Minister reminded the family members that the state government will support them in their difficult times and he can be approached anytime for help.

At the event, CM spoke about demonetisation. He said, “Earlier (when the note ban was announced) people had faith, or rather confusion, that a big change will be brought but soon after the very same people started saying that there could not have been a bigger loss to the economy. National and international economists are also writing about it. It is for the government to see how it will work out the losses to the GDP but it is a fact the people had to face hardships and I have said earlier too that the government which pose problems are voted out by people.”


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He also pointed out the major risks in online transactions and said one of the accused arrested for fraudulently withdrawing money from someone’s account was caught because he was a “novice” and anyone who becomes an expert in cybercrime will never be arrested. When Akhilesh Yadav was asked if note ban will become an issue for the upcoming elections, he said, “Development, road, water all will be elections issues, why would note ban not be an election issue. I came to know that the ‘parivartan rath yatra’ was attacked by those standing in bank queue in Deoria recently. They need to remain alert while taking out rallies and avoid banks on the route.”

On 8th November 2016, the entire nation was hit by demonetisation when PM Narendra Modi declared Rs. 500 and Rs. 1000 notes as illegal tenders. The entire country was shaken up by this announcement as people were given only 4 hours’ notice. More than 150 people have lost their lives across the country since then and there is no visible respite from long queues outside banks. Uttar Pradesh was the only state which started mobile ATMs and cash vans to increase the flow of cash in urban areas when demonetisation was announced. Akhilesh Government has always come forth to help the people in times of need and Social Samajwadi would like to salute that spirit.