New Delhi: Union Information and Broadcasting Venkaiah Naidu today urged people to bare with the short-term inconvenience, for long term gains of the country due to the demonetization of the higher denomination notes.

Delivering a lecture on- A bold and revolutionary step to curb curruption and black money – in Hyderabad this evening, he said the demonetization of bigger notes is nothing but multi-faceted reforms over the economy which will ultimately benefit common man.

He said the bold step was necessitated to nullify the effect of the parallel economy that was emerging due to corruption and illegal practices across the border as well as within the country.

Stating that India is the only country in the world which is presently remained as an attractive economy and the international agencies like International Monitory Fund – IMF have welcomed the demonetisation.

He said fruits of demonetization will be reaching the common man in near future.