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HomeIndiaOpposition parties term demonetisation 'economic genocide', 'criminal act' | India News

Opposition parties term demonetisation ‘economic genocide’, ‘criminal act’ | India News

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NEW DELHI: Describing the 2016 demonetisation as an “financial genocide” and a “legal act”, opposition events slammed the BJP-led Centre for its choice taken on today 6 years again to scrap high-value forex notes.
On November 8, 2016, Prime Minister Narendra Modi introduced the demonetisation of the outdated Rs 1,000 and Rs 500 banknotes. The important thing targets of the choice had been to advertise digital funds and curb black cash, in addition to eliminating terror funding.
Trinamool Congress (TMC) spokesperson and chief of the get together within the Rajya Sabha Derek O’Brien mentioned the transfer was a “gimmick”.
In a tweet, he mentioned: “6 years in the past, at this time. A gimmick that turned out to be an financial genocide #demonetisation. Wrote about this in my guide in 2017 #InsideParliament.
O’Brien additionally identified that West Bengal chief minister and TMC supremo Mamata Banerjee had known as for the withdrawal of the choice.
“@MamataOfficial known as it first ‘withdraw this draconian choice’ minutes after announcement. Others agreed, however solely weeks later.”
Communist Get together of India (Marxist) normal secretary Sitaram Yechury accused the federal government of “beating its personal drum on the legal act of #Demonetisation, in opposition to all good sense, proof and recommendation”.
“The sixth anniversary of Modi and his govt’s hubris, killing off the Indian economic system. Demonetisation has resulted in chaos aside from a document excessive of money in circulation. ?30.88 lakh crore! The worst jumla of all – ‘This struggling is just for 50 days’,” Yechury wrote on Twitter.
Senior Communist Get together of India (CPI) chief Binoy Viswam additionally hit out on the authorities and mentioned six years in the past, the step to scrap high-value forex notes was taken with nice fanfare and the promise to place an finish to black cash and terrorism, including that now’s the time to take inventory of the way it has helped the nation.
“Now the time has come to take inventory of these guarantees. PM is requested to current a white paper on demonetisation,” the Left chief mentioned in a tweet.

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