India can't forgive Modi govt for 'anti-national' act: CPI(M)

Image
Press Trust of India New Delhi
Last Updated : Aug 30 2017 | 7:48 PM IST
The CPI(M) today launched a stinging attack on the Centre over demonetisation, saying India can "never forgive" the Modi government for the "anti- national act", which allegedly hit the country's economy.
CPI(M) general secretary Sitaram Yechury said this after the Reserve Bank of India's (RBI) annual report for 2016-17 today revealed that all but 1.4 per cent of the scrapped Rs 1,000 notes have returned to the banking system.
Taking to Twitter, Yechury sought to know the aim of the move, implementation of which allegedly saw 100 deaths even as the poor "suffered the most" because of it.
He also reiterated that demonetisation's stated objectives of combating corruption, black money, counterfeit currency and terrorism have all "fallen flat".
"99.9% of the notes back in the banking system. 100s died in queues. The poor suffered the most. All this for what? "Lives & livelihoods lost, the Economy got a shock, workers lost their jobs. India can never forgive Modi govt for this anti-national act," Yechury tweeted.
In the report, the RBI said that out of the 632.6 crore pieces of Rs 1,000 currency notes in circulation, 8.9 crore have not been returned post the note ban, announced on November 8 last year.
The government had invalidated the old Rs 500 and Rs 1,000 notes in an attempt to weed out black money in the country. The old notes were allowed to be deposited in banks, with unusual deposits coming under income tax scrutiny.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Aug 30 2017 | 7:48 PM IST

Next Story