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Note demonetisation move hasty, says AIMIM President Asaduddin Owaisi

Slamming Modi's contention of issuing Rs 2000 notes, Owaisi said the 'nano tracker' which the government claims will be present on the notes, is untested and not used anywhere in the world .

By: PTI | Hyderabad | Updated: November 9, 2016 8:24 pm
All India Majlis-e-Ittehadul Muslimeen , AIMIM, Asaduddin Owaisi, AIMIM president Asaduddin Owaisi, Maharashtra government, BJP, Fadanvis, Congress, NCP, Shivsena, Jalna, indian express news AIMIM chief Asaduddin Owaisi. (File)

Terming the move to scrap Rs 500 and Rs 1000 notes as “hasty”, AIMIM President Asaduddin Owaisi said Wednesday  it has created a panic situation and landed the poor and middle-class in deep trouble. He also urged Prime Minister Narendra Modi to immediately “recall” his decision. The Hyderabad Lok Sabha member said only two per cent of people in India deal in cashless economy, while the financial transactions of the remaining 98 per cent are on cash. People such as daily wage workers, drivers, plumbers, and maids earn their livelihood by cash, he noted.

WATCH VIDEO: Rs 500 & Rs 1000 Illegal: Scuffle At An ATM With People Queuing Up To Withdraw Money

“It has been done in a hasty way and now you have all these middle-class, poor people, labourers, agriculture labourers, drivers who are in deep, deep trouble. It’s a panic situation,” Owaisi told PTI here.

“This is going to cause huge panic, turmoil. It has already caused turmoil in markets. It has spread panic among the poor and common man,” he said, adding, people who get their salary in cash now don’t know what to do.

In January, the Centre was anyway going to implement the Unified Payment Interface (UPI) and thus there was no hurry for the government to take this decision, he added.

Slamming Modi’s contention of issuing Rs 2000 notes, Owaisi said the ‘nano tracker’ which the government claims will be present on the notes, is untested and not used anywhere in the world and that it is only a waste of public money.

“It (the move) will definitely hurt the poor voter base of BJP that is who are small traders. The government should immediately recall its decision … or should give people some breathing space,” he added.

WATCH VIDEO: Government Says New Currency Notes In ATMs From November 11

Owaisi claimed that according to a study done by the National Investigation Agency, about Rs 70 crore per yearenters the country as fake indian currency notes and that at present Rs 400 crore worth of fake notes were in the market.

“This is only 0.025 per cent of the total money as RBI has currencies worth Rs 16 lakh crore in Indian markets. And the Prime Minister wrongly used this aspect as an excuse to scrap the high denomination notes,” he said.

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  1. A
    Amit Aggarwal
    Nov 9, 2016 at 2:50 pm
    Let Modi decide. He is the Prime Minister not you. People have selected the right man and all wrong people can waste time in criticising him. Thanks for your unsolicited views.
    1. I
      Nov 9, 2016 at 9:01 pm
      ab ye jinko preshanee ho rahee hey fadkar rakh deigey elections mein , just wait ill elections results. only trouble for poor and common men not arrogant(some) rich.
      1. M
        Nov 11, 2016 at 3:56 am
        We have elected this Govt. and have to respect their decision. And wait an watch it's really proving good for economy (a many experts says) or bad for economy (as again many experts says). But have to support govt. Problem with us is any decision from modi govt. We blow out of line.. 1st bhakts market it so much and next day anti modi starts degrating it. lt;br/gt;lt;br/gt;For eg. congress Govt. Had initiated adhar card their was no hungama, not by govt a not public everybody quitely followed it..it proved to b good move. Maharashtra congress ped rule plastic ban...everybody followed quitely an it was success. lt;br/gt;lt;br/gt;Problem is now india is divited 50-50 modi lovers and modi haters. But we need to respec his decision and support gvt. Same time modi bhakts should keep calm and not create contraverssy by extra marketing on each and every decision which in turn leads to subject of charcha...this is what happening...action and reaction.. which othe politicians (opposition) gets chance..which I but natural.
        1. T
          T Hari
          Nov 9, 2016 at 3:26 pm
          Kuch ache kam ke liye kuch tho problems face karna padtha hai.