Benami properties, gold next: PM Modi

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Prime Minister Narendra Modi on Sunday received standing ovation from audiences in Goa and Karnataka as he shed tears justifying his government’s demonetisation efforts, which have been criticised for mis management.

These were his first speeches since last Tuesday when he addressed the nation to declare that the old series Rs 500 and Rs 1,000 would be illegal tender. On Sunday, Modi announced the next step in his war on “black money” and corruption would be a crackdown on benami properties.

Modi said his government intended to end conversion of black money into gold.

Ridiculing Congress Vice-President Rahul Gandhi for queuing up at an ATM kiosk, he said he would expose the shady financial pasts of those opposing the demonetisation move. He also said he would reveal the names of members of Parliament who had asked him not to levy excise duty on jewellers.

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