Instead of bringing back black money, PM Modi putting pressure on common man: TMC

Coming down heavily on the Centre over the sensational development of scrapping 500 and 1000 rupee notes, the Trinamool Congress on Wednesday asserted that instead of delivering his electoral promise of bringing back black money stashed abroad, Prime Minister Narendra Modi was putting pressure on the common man.

Speaking to ANI here, TMC spokesperson Derek said that his party has always been opposed to corruption in any form, but this is not the way to go about it.

"The Prime Minister promised bringing black money back from foreign accounts, besides other promises that were made before elections, but none of those have been kept. Now instead of brining back money from illegal accounts abroad, this is putting the common man under pressure," he said.

Asserting that this step needs to be withdrawn immediately, Derek said that there is absolute chaos within the nation following this development, adding that it was a financial mess.

Echoing similar sentiment, the Congress hit out at the Centre saying that while they welcomed any move to check black money, this development would hit small traders, small businessmen, and the common man celebrating festivals and weddings.

"Congress has always supported any step against black money, and will continue to do so, and will continue to do so. But while Modi ji withdraws Rs 1000 note on one side, he introduces Rs2000 note on the other side? Does it not defeat his own argument?" said Congress leader Randeep Surjewala.

In a surprise late-evening televised address to the nation, Prime Minister Modi said the notes in circulation can be exchanged at banks till December 30th, adding that some concessions will be allowed for use of these notes at hospitals and crematoriums, and to buy air, rail and bus tickets till November 11th.

But the short notice sparked concern among people who then formed long queues outside ATMs across India, attempting to withdraw smaller bank notes.

"Banks will be closed tomorrow. It will cause some hardship to you. Let us ignore these hardships. In a country's history there come some moments when every person feels he too should be a part of it," the Prime Minister said.

The move was welcomed by President Pranab Mukherjee, who called upon the nation not to panic as this move will help unearth unaccounted money as well as counterfeit currency.