Trade in unorganised sector taken a beating post notes ban: PMK

In a statement, Ramadoss said even while making efforts to root out black money, which he called a "bold initiative", steps should have been taken by the Centre to ensure money circulation through distribution of new currency.

By: PTI | Chennai | Published:November 18, 2016 3:51 pm

PMK chief S Ramadoss on Friday alleged that trade activity, especially in unorganised sector, had taken a beating post-demonetisation, even as those criticising the Centre’s move were termed as “unpatriotic”. Claiming that trade activity ranging from kirana stores to big businesses have been hit by demonetisation, he said, “If this was pointed out by people, a propaganda to label them as unpatriotic has been stepped up.”

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In a statement, Ramadoss said even while making efforts to root out black money, which he called a “bold initiative”, steps should have been taken by the Centre to ensure money circulation through distribution of new currency.

Since this was not done, it has led to all problems, he said and pointed out that new Rs 500 notes were yet to be distributed in Tamil Nadu.

The PMK leader said due to cash crunch, unorganised sector had also taken a hit with no funds to make payments to labourers and buy raw materials.

Similarly, farmers have also been affected, he said. “Till yesterday about Rs five lakh crore has been deposited in banks. However, only less than Rs one lakh crore has been disbursed,” he said.

Ramadoss urged the Centre to take steps to ensure distribution of about Rs five lakh crore worth newly printed notes across the country and “reinvigorate” trade activities to end people’s travails.