"What is done can't be undone. The central government did not consult state governments before taking such a drastic measure," Chief Minister Pinarayi Vijayan said in a Facebook post.
"But now the Hon.Prime Minister & Finance Minister should call an emergency meeting of all states (chief ministers and state finance ministers) to discuss/assess the hardships faced by citizens of each state," he said.
He also said political differences should be set aside and an action plan developed to improve the conditions of small farmers, workers in the unorganised sector, small traders, businessmen, elderly, the disabled and all those who are in bad shape due to the present economic slowdown.
He said it was evident from the past one year that each criticism of CPI(M) on demonetisation has been vindicated.
PR tactics supporting demonetisation had made common people believe that all their sacrifices would contribute to the fight against black money. But ultimately they were taken for a ride, he said.
Alleging that the Indian economy has fallen into a dark abyss, Vijayan said it was growing at 7.6 per cent before demonetisation, but slowed to just 5.7 per cent.
"No ruler has any right to impose policies subverting Parliament that will cause misery and hardship for people. The ones who implemented demonetisation should not take people's mandate as the right to juggle the economy of the country," he said.
The 'failure' of demonetisation underlines the fact that parliamentary democracy must be strengthened, Vijayan said.
The Centre should provide help and support to allay the hardships faced by people, create more employment opportunities and provide financial security to the weak, he added.
The opposition Congress observed 'black day' and took out a protest march from the RBI to the AG's office.
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