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Black money good for the country: UP CM Akhilesh Yadav
Black money is good for the economy as it helps at the time of recession or that's what UP CM Akhilesh Yadav wants you to believe.
Akhilesh Yadav is one of the politicians who have opposed the Modi government's move to demonetise Rs.500 and Rs.1000 notes. Akhilesh had earlier written to the Finance Minister Arun Jaitley to delay the step till November 30.

"I am opposed to black money. I do not want it. But many economists say one reason why India is able to withstand frequent global crises in economy is because of the huge parallel economy of black money," Yadav told reporters.

The opposition parties have united in their attempt to corner the government in the upcoming winter session of the parliament.

Last week, Modi announced that all the old Rs 500 and Rs 1000 notes will no longer have any legal standing.

The demonetisation move has however caused various problems for the public. People are queuing up to exchange old notes with new ones. Many banks and ATMs are running out of cash to cater to the demand.

It has also had its effect on the political activities in Uttar Pradesh, a state that goes to elections next year. Political parties that had already announced the dates of rallies or public meetings before, have either cancelled or deferred their programmes, mostly due to the present cash crunch in the market.

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