Demonetisation backer NCP condemns implementation process

The NCP which had supported the Centre's demonetisation move as a fight against black money, today condemned its implementation process saying the measure was taken in haste without exploring alternative mechanism.
"NCP had welcomed the government's decision to demonetise high value currency notes of Rs 500 and Rs 1000. But the manner in which the decision was implemented lacked foresight. It was taken in haste without exploring alternative mechanism and hence we condemn it," NCP national general secretary Tariq Anwar said.
Describing the move as a 'face saving' measure for Prime Minister Narendra Modi's failure to bring back black money from foreign countries, Anwar said it would not be able to wipe out black money economy.

It was an electoral 'jumla', he told reporters.
Stern measures were needed to curb the menace of black money, but common people have become the worst victim of the government's decision taken in haste and being implemented without much preparations, he said.
The move forced people to stand in long queues at banks and ATMs across the country for hours and had an adverse impact on sale and purchase of goods of daily use, said Anwar who is a Lok Sabha member from Katihar in Bihar.

"There is complete chaos across the country as the government has failed to maintain adequate liquidity in the economy," he said.

A large chunk of people rely on cash for carrying out their daily transactions, he said, adding that digital exchange mode is confined to big cities only.
It would be an illusion to believe that it would take the entire country towards a cashless society while 60 per cent of rural people don't have the access to the banking system, Anwar said.
When the Morarji Desai government had scrapped big currency notes of Rs 1,000, Rs 5,000 and Rs 10,000 to take on the black money problem, it had hurt rich people the most but this current move has affected the common people the most.