Mulayam demands suspension of Modi's demonetisation decision

Suggests women be allowed to deposit Rs 5 lakh without penalty

Samajwadi Party (SP) president Mulayam Singh Yadav on Thursday urged the Centre to keep in abeyance its recent decision to demonetise the high-value Indian currency notes in 500 and 1,000 denomination.

Talking to media here, he claimed the sudden announcement of the decision on Tuesday night had caught people unaware and they were facing hardships.

He demanded that Centre should allow a week’s window to allow people brace themselves for the demonetisation and facilitate an easy transition to new series of currency notes.

Stressing SP was against black money, he said his party had always been raising the issue of black money and was supportive of any drive against the menace.

“However, we oppose the decision of the Narendra Modi government to abruptly discontinue currency notes, since the poor, women and unemployed are the hardest hit,” Mulayam underlined.

He further charged the Modi government with doing precious little to fulfill its pre-poll promise of bringing back black money stashed abroad. Besides, he demanded women folks be allowed to deposit cash up to Rs 5 lakh in banks with the assurance no penal action would be taken against them. He maintained people were unable to procure essential commodities including medicines, while marriage ceremonies were stuck in the absence of ready cash.

He noted the country was facing a grave challenge and crisis due to the decision. Further, Mulayam pointed out that following the demonetisation, gold prices had shot up. Claiming the decision was akin to imposing an ‘economic emergency’, he blamed the Bharatiya Janata Party (BJP) led central government for allegedly sighting the forthcoming polls, while turning a blind eye towards the convenience of people. Meanwhile, he announced that SP would garner support of people and other parties on the issue and attempt to uproot the central government.

Bahujan Samaj Party (BSP) president Mayawati also attacked the Modi government over the issue saying it was merely an eyewash to divert people’s attention from its failures over the last two and half years. She noted the decision had caused distress among people.