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Bhosale, a descendent of Maratha warrior king Chhatrapati Shivaji and a Nationalist Congress Party MP from Satara, said: "You are asking people to wait for 50 days! What 50 days? Why should they wait to withdraw their own hard earned money for so long? If matters worsen, there will be jungle raj. People will not hesitate to plunder banks."
On November 8, Modi announced that Rs 500 and Rs 1,000 notes will not be legal tender from that midnight onwards.
"However, they are not speaking out because they are all scared of Modi, who has all intelligence and investigating agencies under his control. Is he not aware of who has black money or not? For a handful of people with illegal wealth, why target the ordinary citizens?" Bhosale fumed.
He was speaking at a function to pay homage to late Deputy Prime Minister Y.B. Chavan here in the presence of several political bigwigs.
The NCP leader warned that if the situation went out of control, neither the state nor the Centre would be able to control public wrath and that internal security could be threatened.
Bhosale said the Intelligence Bureau, Research and Analysis Wing, Enforcement Directorate and the Reserve Bank of India have all the details of people with black money.
"The government should have taken the details from them and caught those who have black money. But no action was taken against them while the common citizens have been put to hardships," he said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)