Demonetisation announced without plan, preparation, says Sitaram Yechury

Sitaram Yechury also claimed that the move will "put brakes" on the economy and "hurt" the poor.

By: PTI | New Delhi | Published:November 12, 2016 6:09 pm
sitaram yechury, yechury on demonetisation, yechury on notes ban, cpim yechury, currency ban, 1000 notes ban, india news Sitaram Yechury said PM Modi announced the demonetisation move without preparation. (Express Archive)

CPI(M) general secretary Sitaram Yechury today alleged that Prime Minister Narendra Modi made the announcement of demonetising Rs 500 and Rs 1,000 notes without any plan or preparation and claimed that the move will “put brakes” on the economy and “hurt” the poor.

“PM announced this without any preparation: Illustrates this govt’s idea of governance and lack of empathy for the average Indian’s suffering,” he tweeted.

“Besides harassment to people, demonetisation will put brakes on the economy, hurting the poor & underprivileged more. This govt has no plan,” the CPI(M) general secretary wrote on the microblogging site.

Taking the nation by surprise, Prime Minister Narendra Modi had announced demonetisation of Rs 1,000 and Rs 500 banknotes with effect from midnight of November 8 in a major assault on black money, fake currency and corruption.