CPI (M) takes on PM, says demonetisation won't do any good

The Communist Party of India (Marxist) on Monday asserted that Prime Minister Narendra Modi's demonetisation drive will neither bring back black money nor end corruption.

CPI (M) leader Sitaram Yechury said that currency swap is doing nothing but making the common man suffer.

"We have said it earlier as well that no matter Prime Minister says anything demonetisation will bring back black money or put an end to corruption neither it will end terror financing," said Yechury.

"All this has been proved, but he is relentlessly publicizing the issue and is not understanding that amid all this the common man is suffering. He has spoilt the life of a commoner," he added.

Yechury also urged the Centre to allow the old currency to function until there is enough new cash for smooth circulation.

"Our demand is that until and unless new notes do not come in adequate number, the Centre should allow the old currency to function," he said.

Commenting on 'Bharat Bandh', Yechury said it is Prime Minister Modi, who is confusing the nation as none of the opposition parties have called for a shut down.

"There is no 'Bharat Bandh'. This is a confusion being spread by the Prime Minister. We, 14 parties, have decided to observe 'Jan Aakrosh Divas'," said Yechury.

The opposition parties have called for a countrywide protest today against what they call the government's "mishandling" of the currency ban. Only the Left Front, which has a presence in Kerala, Bengal and Tripura, has called for a strike or 'Bharat Bandh' in the three states.

Addressing the BJP's Parivartan Rally in Kasya assembly segment of Kushinagar in Uttar Pradesh, the Prime Minister said, "On the one hand we are initiating steps to curb corruption, but on the other hand a few people are talking about 'Bharat Bandh'."

He described demonetisation as a cure to the 70-year-old disease of corruption.