PM Modi is doing unfair politics, no explanation on demonetisation: Congress

The Congress party on Saturday said that Prime Minister Narendra Modi is practicing an unfair brand of politics, and added that he did not give any explanation on the purpose of demonetisation.

"This is an unfair manner in which the Prime Minister is doing his politics. No explanation has been made on what was the purpose of demonetisation and it is a little bit of an eye wash," Congress leader Salman Khurshid told ANI here.

Khurshid added that all schemes and announcements made by Prime Minister Modi have to wait till the Budget Session to get implemented.

"Speech was like that if they had to announce an election in the next two to three days. Nothing of what has been said in the speech will be implemented right away and it has to wait till the budget," he added.

West Bengal Chief Minister Mamata Banerjee said, "The nation's address became the budget address. Prime Minister Modi just took over the post of Finance Minister and made a pre- budget speech."

Finance Minister Arun Jaitley hailed the speech made by Prime Minister Modi, adding that the announcements made by him would enhance economic activities.

"PM's announcements will enhance economic activities. Government is committed to cleanse political funding," he said.

Nearly two months after demonetisation and ahead of crucial elections in five states including Uttar Pradesh, Prime Minister Narendra today announced a series of sops for the rural and urban poor, farmers and traders hit by his demonetisation move.

In a New Year Eve's address that sounded more like a budget speech, Modi announced interest subvention on housing for the urban and rural poor, provided enhanced credit guarantees to small traders and MSMEs, gave a 60-day interest waiver on select farm loans, and ensured higher interest earnings for senior citizen.