Black money helped Indian economy: UP CM

In a shocking statement, Uttar Pradesh Chief Minister Akhilesh Yadav today said black money saves the Indian economy in times of global recession. "I am very clear on this...black money should not be generated. Economic experts say the magnitude of the global economic crisis at times is not felt in India because of strong (parallel) economy of black money," he said. "I am opposed to black money. I do not want it," he said on the sidelines of Indo-Myanmar-Thailand Friendship Car Rally flag off here. Coming in the middle of a massive crisis over the government's demonetisation scheme to check the flow of black money, the young Samajwadi Party leader's comments are surely going to create a huge controversy. The chief minister was of the view that demonetisation will not serve the purpose of checking black money. Akhilesh also said that whichever government had troubled the poor, it was shown the door by the masses. "This government has caused immense pain to commoners," he said.