Mamata escalates attack on Modi Govt., says India witnessing "bankruptcy"

Coming down heavily on the Centre for decreasing the withdrawal limit of cash from Rs. 4,500 to Rs, 2,000, West Bengal Chief Minister Mamata Banerjee on Thursday said the country is witnessing bankruptcy and urged the government to restore normalcy in the nation.

"The withdrawal limit has been reduced from Rs. 4,500 to Rs. 2,000. It means that the government lacks funds. There is bankruptcy. The country is going in financial crisis. We came here to know how many currency notes were printed and how much cash is available but the Regional Manager told us that they don't have any information," Banerjee told the media here.

Alleging that the demonetisation move is a wrong policy of the government, the Trinamool Congress (TMC) chief said this decision has made the banking system bankrupt.

"This means our apprehension is correct. The country is going in bankruptcy. This is a wrong policy of the government. This has made the banking system bankrupt. My suggestion to the government is to restore normalcy. The markets are shut and all the development projects are closed," she added.

The West Bengal Chief earlier today issued an ultimatum to the BJP-led NDA Government to rollback the decision in three days or face intensified protest.

"If this decision (demonetisation) is not taken back in three days, we will intensify our protest. Today they announced that only Rs. 2,000 can be exchanged and not Rs. 4,000. What's going in their minds?" wondered Banerjee.

"Who would protect the Constitution? So, I approached President Pranab Mukherjee. If vegetable markets are shut, what will people eat--diamond or ATM card?" Mamata said, adding that the entire nation is suffering because of this baseless decision.

The TMC supremo, who was addressing a rally of traders, farmers and labourers at the Azadpur Mandi here, compared the present state of affairs with Emergency and alleged that demonetisation would take India backward by 100 years.

Both the Lok Sabha and Rajya Sabha today witnessed a riled opposition yet again locking horns with the government over the move to scrap Rs. 500 and 1,000 currency notes that has triggered chaos and confusion across the nation.

Both the Houses of Parliament were adjourned till tomorrow following uproar over the demonetisation move.