[Marxistindia] Modi Govt's Disastrous Demonetisation

[news from the cpi(m)]

November 8, 2018
Press Statement
 
The Polit Bureau of the Communist Party of India (Marxist) has issued the
following statement:
 
Modi Government's Disastrous Demonetisation
 
On the second anniversary of demonetization, the Indian economy is yet to
recover from the disaster imposed on our economy and the people by Prime
Minister Modi.
 
All the claims that it would unearth lakhs of crores of rupees of black
money and end corruption have proven to be utterly false.  On the contrary,
with 99.4 per cent of the banned notes back in the system, it is clear that
demonetization has, in fact, been the avenue to convert black money into
white helping the most corrupt. On the other hand, crores of people
dependent on daily cash transactions have been devastated and more than 35
lakh workers in the unorganized sector have lost their livelihood.
Similarly, the SMEs have suffered a huge loss in revenue. Nor has there been
any impact on terrorist activities due to funding crunch as claimed by Modi
at that time.  On the contrary, official data reveals that incidents of
terrorist attacks have more than doubled.
 
The CPI(M) also condemns the shameless defence being put out by Finance
Minister Arun Jaitley who is equally responsible for the mess in the Indian
economy.
 
In its ongoing campaigns across the country, CPI(M) units are taking these
facts on the demonetization disaster to the people.  
 
 
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