He also said that his government is committed to developing a development-centric eco system which is free of corruption and is citizen centric.
Addressing a gathering here, he said that post demonetisation, black money, which was part of a parallel economy, has now become part of the formal system.
Inaugurating the Hindustan Times Leadership Summit here, Modi said data mining after the note ban is also helping government track down those involved in corruption.
"The day the country will have a technical and digital address for all monetary transactions, organised corruption would be checked to a great extent.
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Modi also used the opportunity to hit out at the previous Congress-led UPA government, saying that when the NDA took over in 2014, the "legacy" it got was in the form of a poor fiscal order, banking system, economy and governance.
"The headline was 'policy paralysis... things were described in discount words. No harsher words were used to describe the situation," he noted.
He said during the rule of the previous government, "corruption was the norm (bhrashtachar hi shishtachar tha)...I understand that no magic can change the country...but we cannot sit doing nothing...people who do nothing are filled with a sense of dejection...this approach prevents us from taking risks," he said.
Modi said for the past 70 years, people were fighting the system. "The system was a hurdle in development, success. My effort and commitment is that the people's struggle with the system should end and ease of living should go up," he said.
The prime minister said no one would have stopped the previous government from implementing such schemes. "But we won't be stopped," he asserted.
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