Demonetisation: CPI demands use of old notes till December 31

Hyderabad: Alleging that the country's economy is in chaos in wake of the demonetisation move, the CPI today demanded that the Centre should allow use of old notes till December 31 for all public utilities even as it pressed for action against "real black money hoarders" and those named in Panama leaks.

"If the Prime Minister is sincere, he should apologise to the nation and set right things by allowing people to use the old currency till December 31 for all public utilities like journeys, hospitals, medical shops, tax payments, phone payments, to purchase foodgrains, and essential commodities," CPI General Secretary S Sudhakar Reddy told reporters.

He said Prime Minister Narendra Modi's comment that poor people are happy with demonetisation of high currency notes is far from truth.

"It is an insult on injury. Life has become miserable for a large number of people," he said.

The Modi government should explain why the black money stashed abroad could not be brought back even two and half years after being in power, the CPI leader said.

"Blaming opposition parties for anger of the people will yield no results. The nation needs a reply why black money stashed in foreign banks could not be brought back after two and half years rule of Modi, as he promised earlier. Explain why Rs 2000 notes are issued which will again help increase black money," he said.

As people's anger rose Modi made emotional appeals, he claimed.

"As unending miseries due to cash crunch angered people, PM is resorting to emotional appeals as if his life is in danger. Commercial activity has crashed. Journeys are cut. Patients are facing difficulties in getting admission in hospitals and to purchase medicines. Modi's dramatic move backfired as Indian economy is in chaos," he said.

The NDA government has failed to estimate the consequences of its decision to demonetise high-value notes and it is not ready to accept that the move was introduced without proper arrangements, Reddy said.

"Tears in Modi's eyes cannot wipe tears of crores of people in the country. There are reports that black money holders found their way. The huge deposit in banks in the last quarter is abnormal and creates doubts how could they knew the upcoming move of the government. Vijay Mallya, Lalit Modi and Panama accused are moving freely while people are punished," he alleged.

"CPI demands strong action on real black money holders, including on all those whose names are exposed in Panama leaks," he said.