Congress accuses govt of pushing country into financial emergencyhttps://indianexpress.com/article/india/india-news-india/congress-accuses-govt-of-pushing-country-into-financial-emergency-4383290/

Congress accuses govt of pushing country into financial emergency

Congress insisted that it will take nearly eight months for the RBI to replace the demonetised Rs 500 notes and over three months to print enough Rs 2,000 notes to meet the demand.

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Congress party Chief spokesperson Randeep Surjewala. (File)

The Congress Friday accused the BJP government of pushing the country into “financial emergency” and “economic anarchy”. It insisted that it will take nearly eight months for the RBI to replace the demonetised Rs 500 notes and over three months to print enough Rs 2,000 notes to meet the demand.

“A total of 2,327 crore notes valuing about Rs 15 lakh crore have been withdrawn. Rs 1,000 notes are printed by the Bhartiya Reserve Bank Note Mudran Private Limited. It has a capacity to print 133 crore notes per month in two shifts. Even if three shifts were to work, this company can print 200 crore notes per month,” Congress Communication Department head Randeep Surjewala said.

“If this government company was to print new Rs 2,000 notes as against the old Rs 1,000 notes… the entire operation will take three and a half months. Rs 500 notes are printed by the Security Printing and Minting Corporation of India Limited, which has a capacity to print 100 crore notes per month. If this capacity is doubled overnight, it will still take nearly eight months or more to print 1,658 crore notes of Rs 500.”

He argued that the government’s claims are “hollow and deceptive” and criticised PM Narendra Modi for the demonetisation move. “India has a Prime Minister, who decides first, thinks later and listens to no one. When glaring mistakes and bungling are caught, anyone asking questions is branded anti-national.’’
“In the last 10 days, 55 people have died. What was their fault? Prime Minister Modi should unconditionally apologise not only to these 55 families but also to the nation. The government must pay adequate compensation to these 55 families,” he said while releasing a list of 55 persons who he said have died standing in queues.