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Akhilesh Yadav sparks controversy, says black money helped Indian economy during global recession

Uttar Pradesh Chief Minister Akhilesh Yadav on Tuesday said that the economists were of the opinion that black money helped the Indian economy in times of global recession.

India TV Politics Desk, Lucknow [ Updated: November 15, 2016 17:35 IST ]
Akhilesh Yadav says black money helped Indian economy during global recession

Commenting on the Indian government's sudden decision to demonetise Rs 500 and Rs 1000 notes to stamp out black money, Uttar Pradesh Chief Minister Akhilesh Yadav on Tuesday said that the economists were of the opinion that black money helped the Indian economy in times of global recession.

"I am very clear on this...black money should not be generated. Economic experts say the magnitude of the global economic crisis at times is not felt in India because of strong (parallel) economy of black money," Akhilesh said while flagging off the India-Myanmar-Thailand Friendship Motor Car Rally in Lucknow.

"I am opposed to black money. I do not want it," he added.

Akhilesh also said that whichever government had troubled the poor, it was shown the door by the masses. "This government has caused immense pain to commoners," he said.

 

Earlier on Saturday, Akhilesh was of the view that demonetisation will not serve the purpose of checking black money.

"It's good that corruption is checked and people become aware that there should not be (any) corruption. But this problem cannot be overcome merely by changing Rs 500 and Rs 1000 notes...Those who used to keep such notes are now waiting for Rs 2000 notes..." Akhilesh had said.

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