Uttar Pradesh chief minister Akhilesh Yadav made a shocking statement explaining the benefits of black money while commenting on the demonetisation policy of the government. The statement coming from a young leader, who recently stood up against corrupt elements within his own party is really disappointing.

Speaking to reporters in Lucknow, the Uttar Pradesh chief minister said that black money is good for economy. It’s helps during recessions. This was in response to the ongoing drive against black money hoarders by the Narendra Modi government through demonetisation of Rs 500 and Rs 1000 notes.

BJP  president Amit Shah had made a snide remark at his father Mulayam Singh Yadav saying that the Samajwadi Party supremo “has lost his sleep since the decision was taken by Narendra Modi government”. Both the parties in poll bound Uttar Pradesh, SP and BSP have opposed the government’s move of demonetising Rs 500 and Rs 1000. In fact, Mayawati called this a political stunt by the BJP government. Mulayam Singh Yadav too said that the move was taken keeping in mind Uttar Pradesh elections.

Elections often become fertile ground of moving black money as political funding in India is not transparent. Arun Jaitley in an interview to Aaj Tak had said that although the move might be causing inconvenience to common people, in the long run it would not only strengthen the economy but also help cleanse the murky system of political funding.