The Arunachal BJP today welcomed the decision of Prime Minister Narendra Modi to demonetise currency denominations of Rs 500 and Rs 1000.
"As a tribal state - as notified under IT Act - Arunachal Pradesh has been at the forefront of black money," state BJP President Tapir Gao said in a statement, adding the Modi-led NDA government had given enough time to the currency hoarders.
Further, he reiterated, that the initiative would have a massive impact on rampant corruption within the system.
"Arunachal has been victim of illegal arms trade that prospered in the region," he said.
Stating that black money and counterfeit currency in the NE region in general and Arunachal in particular had triggered "thriving illegal drug business that destroyed many young lives," Gao claimed that demonetising would have immediate and long-term impact not only on overall economy but on overall health of society, especially the youth.
He appealed the public to cooperate with the government and urged them to endure teething problem for the larger cause of re-building the nation.
In a surprise move, Prime Minister Narendra Modi had on Tuesday announced the demonetisation of Rs 1,000 and Rs 500 notes, making these notes invalid in a major assault on black money, fake currency and corruption.
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