Criticised heavily for implementing demonetisation an year ago, PM Narendra Modi found himself under massive fire for a nationwide cash crunch, with some even terming it as ‘demonetisation 2.0’. The Congress party released a video criticising Modi government’s decision, it said, “As ATMs across the country bleed dry, it appears like the ghost of Modi Govt’s demonetisation has returned to haunt the country. Who is to blame for this financial turmoil?”
Telangana Chief Minister, K Chandrashekhar Rao, said that the situation is not sudden or temporary. “Sir, with due respect the cash shortage in Banks and ATMs is neither sudden nor temporary. I’ve been hearing complaints for over 3 months repeatedly in Hyderabad, Please have RBI & Finance Ministry team dig deeper and not brush away an issue that is eroding people’s confidence in banking system,” he said.
As ATMs across the country bleed dry, it appears like the ghost of Modi Govt’s demonetisation has returned to haunt the country. Who is to blame for this financial turmoil? #CashCrunch pic.twitter.com/bwBx2IxCth
— Congress (@INCIndia) April 17, 2018
Senior Congress leader and former finance minister P Chidamabaram also cornered the government and Reserve Bank of India over the issue. “A government is obliged to provide as much cash as the people need at any given time. Government or RBI cannot arbitrarily control the supply of cash,” he said.
Communist Party of India chief Sitaram Yechury also targeted the government over the issue. Taking to Twitter, Yechury said that the government has not been able to calculate the amount of demonetised currency yet. “This govt which still has not been able to count the demonetised currency is asking us to trust its Jumla that there is no cash crunch,” he said,. adding that no one trusts the Modi government anymore after “demonetisation disaster where goalposts were repeatedly shifted and deadlines changed”