Demonetisation is like PM clearing the pond to kill crocodiles: Sitaram Yechury

Yechury asked the government to allow old notes to be transacted for all white transactions and public purposes till alternative arrangements were put in place.

By: Express Web Desk | New Delhi | Updated: November 17, 2016 1:28 pm
demonetisation, 500 rs note, 1000 rs note, modi, pm modi, narendra modi, modi black money, cpi(m). sitaram yechury, india news, indian express, Sitaram Yechury. (Express Photo by Subham Dutta)

CPM general secretary Sitaram Yechury tore into the Central government’s demonetisation policy, saying the move will not end corruption in the country. Participating in a debate on the issue in the Rajya Sabha, Yechury said, “If you stop Rs 500, and Rs 1,000 notes, do you think corruption will stop? Now corruption will double with Rs 2000 notes.”

“Small fishes are dying, while big crocodiles are enjoying. Demonetisation is like PM clearing the pond to kill the crocodiles. Not realising crocodiles can live on land as well,” Yechury said. Questioning the government’s logic behind scrapping old Rs 500, Rs 1000 notes, Yechury said that 86 per cent of the transactions in the country are in cash and 80.8 per cent of the rural population was not covered by the banking system. He said only 6 per cent of the black money is in cash.

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Yechury said that the country today was living on cash transactions of 14 per cent.  Criticising Prime Minister Narendra Modi, he said, “None of the points said by PM stand on any strong footing, whether it’s terror funding, black money, counterfeit currency, or corruption. If none of the objectives are to be fulfilled by this, what is the meaning of this move?”

Yechury rued that plantation workers have been committing suicide, unable to make ends meet, and truckers across the country were feeling the heat over the issue. Yechury asked the government to allow old notes to be transacted for all white transactions and public purposes till alternative arrangements were put in place.

In a surprise move on November 8, the Modi government scrapped the use of Rs 500 and Rs 1,000 currency notes.  Since then, people across the country have been been queuing up outside banks and ATM to withdraw and deposit notes. (With ANI inputs)

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  1. M
    MyTake
    Nov 16, 2016 at 10:50 am
    India has woken up , keep moving!
    Reply
    1. S
      SubbuI
      Nov 16, 2016 at 3:58 pm
      SOOOOO WHAT? OUR GREAT LEADER DOES THAT THEN IT IS FOR INDIA'S GOOD.EVEN IF HE FORMS SUSCIDE SQUAD TO KILL NATIONAL OPPOSITION TO HIM WE ALL INDIAN WILL AGREE. INDIA IS MODI-INDIA IS MODI.HAIL MODI
      Reply
      1. A
        Amit
        Nov 16, 2016 at 11:03 am
        Be careful then Mr. Yechuri! will pray for you.
        Reply
        1. B
          Balakrishnan
          Nov 16, 2016 at 12:50 pm
          It is like pouring water and sand together into a filter to separate sand. There is no other way. Water is slowly trickling into the banks. Sand will be left behind
          Reply
          1. A
            A villager
            Nov 16, 2016 at 10:57 am
            Yechuri is right about crocodiles. They can live on land too. Today only UP CM Akhilesh announced that old Rs 500 and 1000 notes can be utilised for land deals in UP .
            Reply
            1. T
              T DUTTA
              Nov 16, 2016 at 12:55 pm
              SOME POLITICIANS NEVER WIN ELECTIONS IN THEIR HOME STATE-----THEY DEPEND UPON THE CHARITY OF OTHER STATES
              Reply
              1. T
                T DUTTA
                Nov 16, 2016 at 12:49 pm
                many politicians do not understand economics-----
                Reply
                1. I
                  IMOZI MD
                  Nov 16, 2016 at 12:21 pm
                  It is not his fault , either it is due to the JNU economics poor curriculum standards. or he is a drop out of JNU.
                  Reply
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