Demonetization : PM created socio-economic anarchy

Press Release Programme

Without making any adequate alternative measures by the government and the Reserve Bank of India, by demonetize the currencies of RS.1000/- and Rs.500/- the prime Minister has pushed the entire nation into severe socio-economic anarchy.
It is now crystal clear that the Reserve Bank of India was not prepared for this withdrawal and to face the aftermath. The ATM machines are not functioning, the Banks are facing serious crisis of non-availability of adequate smaller currencies and severe staff crunch, the general public including small traders, peasants, agricultural workers, construction workers, fishermen, auto-taxi drivers, pensioners, patients and other common people of all walks of life are unable to meet their daily lives. The people are being forced to stand up in queues for the whole day for changing and withdrawing their hard earned money and thereby loosing their daily earnings. Such situation could have been avoided.
It is unfortunate that the Prime Minister has challenged the integrity, loyalty and patriotism of the Indian citizens. For a few black money holders and fake currency rackets, the entire people of the country are forced to prove their patriotism and loyalty by standing in the queues of Banks and ATMs. It is high grade of humiliation to the public.
The entire economic activities of the country have come to a halt. The markets are partially closed, majority of the manufacturing units are temporarily closed, workers are loosing their employment and daily wages, peasants are unable to purchase seeds, pesticides and other inputs for cultivation, patients and their relatives are incapable to pay medical bills and medicines etc are the balance sheet of this ‘Thuglak’ model reforms.
The nation is eager to know about what happened to the election promise of Narendra Modi that if he get 100 days, he will bring all black money stashed abroad? Prime Minister should explain to the nation why his government has waived Rs.1.12 lakh Cr dues of taxes to the corporates? Why Modi government has failed to retrieve the Non- Performing Assets of more than Rs.8.5 lakh Cr? Why his government has stopped the ED action against Adani group and Baba Ramdev?
The impact of this announcement has not only being affected to the general public but also put the credibility of Indian currency at stake. The All India Forward Bloc is of the opinion that introduction of new currency of Rs.2000/- replacing Rs.1000/- has no logic and will not put an end to the black money and fake currencies rather this menace will increase. Stringent measures by enforcement department, will-power of the government to check the corruption and other measures to stop cross border money transactions can only restrict the danger of black money and fake currencies. Instead of making emotional speeches, the Prime Minister should apologize to the nation.


Leave a Reply