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Kerala Chief Minister Pinarayi Vijayan today dubbed demonetisation a "thoughtless act", which, he said has failed to achieve its desired goals.
"Demonetisation (of high value currencies) was a thoroughly thoughtless act. South Indian states are facing severest drought. The drought might be described as a natural disaster but the disaster induced by demonetisation is completely man-made," the veteran CPI(M) leader said addressing a public meeting here.
The meeting was organised by the CPI(M) to mark the culmination of its five-month long "Mahajana Padayatra" which took off on October 18 last year from Ibrahimpatnam in Ranga Reddy district. Its main agenda is to secure social justice and comprehensive development.
Vijayan claimed that more than 100 people have lost their lives across the country while waiting in queues at banks post demonetisation.
"Though the Union Government claimed that by demonetisation, black money can be arrested, funding for terrorists can be stopped, fake currency can be stopped, corruption and scams can be put to an end..But nothing in that direction has been achieved so far.
"In fact, recent biggest catch of fake currency was from Gujarat. It was said that everything will be alright in 50 days. But five months have passed and the economy is still in a limp. Even with falsified numbers the Central government could not show growth rate," he said.
Vijayan claimed that formation of a separate state of Telangana did not help in achieving the objectives of social justice.
He alleged that only "certain political leaders" have amassed the wealth disproportionate to their sources of income in Telangana and have been beneficiaries. "That is why CPM embarked on this 'padayatra'," the CM said.
"While all sections of the people of Telangana are struggling for justice under the present regime (Telangana Rashtra Samithi), they are doubly denied justice due to the anti-people policies of the Central Government. Time and again we have seen the anti-people and pro-corporate policies of the BJP government," Vijayan said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)