India's PM Modi Defends Cash Ban, Announces Incentives

Indian Prime Minister Narendra Modi announced a series of incentives to the poor, farmers, women and small businesses on Saturday in a New Year's address, and defended his recent decision to abolish high denomination bank notes. The televised speech was widely seen as an opportunity for Modi to shore up support after a radical move on Nov. 8 to withdraw all 500 and 1,000 rupee bills, accounting for 86 percent of currency in circulation. Millions of Indians were forced to queue...

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