Black money could not be unearthed as it is outside the country: Sharad Pawar

"More than 60 days have passed after the announcement of demonetisation but disturbed economy is not yet back on track. Rural areas and cooperative banks and societies are worst hit due to the decision," Pawar alleged.

By: PTI | Mumbai | Published: January 16, 2017 9:52:26 pm
sharad pawar, pawar, sharad pawar ncp, demonetisation, black money, black money india, black money modi, narendra modi, pm modi, black economy, demonetisation india, currency ban, note ban, indian express, india news Sharad Pawar.

NCP chief Sharad Pawar on Monday said Union Government could not unearth black money after the recall of high currency notes on November 8, as “such money is outside the country.”

“Earlier, it appeared that the demonetisation decision is good but black money has not been unearthed. The key reason behind it is that black money is outside the country.” Pawar told reporters at Aurangabad.

Watch what else is making news

“More than 60 days have passed after the announcement of demonetisation but disturbed economy is not yet back on track. Rural areas and cooperative banks and societies are worst hit due to the decision,” Pawar alleged.

“Some 50 per cent small industries are directly affected because of the decision of demonetisation, whereas 35 per cent jobs are affected, said the former union agriculture minister.

“Programmes like MNREGA offering jobs in rural areas used to employ 30 lakh people. Today, the number has increased to 53 lakh, because people are not getting jobs elsewhere,” Pawar said.

On approach of the Union Government towards cooperative societies, Pawar said, “The outlook of the government towards these institutes is biased. I will personally pursue the matter with them for streamlining economy of cooperative banks and credit societies.”

“Cooperative sector needs support of the government. This sector is known for helping small businesses and common man. The decision of note scrapping has hit hard the same section of the society largely linked with the cooperative movement,” Pawar said.

For all the latest India News, download Indian Express App