1. Demonetisation: CPI(M) leader Sitaram Yechury questions the Centre’s step

Demonetisation: CPI(M) leader Sitaram Yechury questions the Centre’s step

In continuation of blaming Centre for demonetisation of Rs 500 and Rs 1,000 notes, Communist Party of India (Marxist) leader Sitaram Yechury on Monday questioned the impact of the step to combat black money.

By: | Updated: November 14, 2016 1:56 PM
Communist Party of India (Marxist) leader Sitaram Yechury on Monday questioned the impact of the step to combat black money. (ANI) Communist Party of India (Marxist) leader Sitaram Yechury on Monday questioned the impact of the step to combat black money. (ANI)

In continuation of blaming Centre for demonetisation of Rs 500 and Rs 1,000 notes, Communist Party of India (Marxist) leader Sitaram Yechury on Monday questioned the impact of the step to combat black money. He further said that the Centre should allow old high-value denominations for public utility to give some relief to the people.

Prime Minister Narendra Modi had announced a ban on two high-value currency notes on November 8 in a major assault on black money, fake currency and corruption followed by introduction of new Rs 500 and Rs 2,000 notes bu Reserve Bank of India Governor Urjit Patel and the secretary of the Department of Economic Affairs Shaktikanta Das on the same day. Criticizing the step, Yechury lashed out on PM Modi. Quoting a previous statement of the PM in which he said that “90 per cent of black money is stashed in abroad” and added that “he has the list of those names but not making them public”.

Yechury further said that this step of the central government will not help to curb terrorism due to unavailability of liquid cash. “No one carry bags to fund terrorism, it is more via online transfers,” he said. He also alleged that no one is accepting the new currency notes issued by the RBI and hence it does not make sense of their issuance. “Nobody is accepting this new currency, so what is the use of introducing them,” asked he.

Taking note of the inconvenience people have been facing, he said that the “government should allow old Rs 500 and Rs 1,000 notes for public utility and state utility” to “give some relief to people”.

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