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Rs 500, Rs 1000 notes invalid: What happens to farmers, housewives, asks Congress; JD(U), BJD welcome move

Mamata Banerjee of the Trinamool Congress too attacked the government while the JD(U) and the BJD welcomed the move.

By: Express News Service | New Delhi |
November 9, 2016 3:14:42 am
<span class="embed-youtube" style="text-align:center; display: block;"><iframe class="youtube-player" width="640" height="360" src="" allowfullscreen="true" style="border:0;" sandbox="allow-scripts allow-same-origin allow-popups allow-presentation"></iframe></span> Government has withdrawn Rs 500 and rs 1000 notes from circulation.

THE CONGRESS questioned the government’s surprise decision to withdraw Rs 500 and Rs 1,000 notes from circulation, saying it would inconvenience farmers, ordinary shopkeepers, small and medium businesses and housewives, asked how introduction of Rs 2,000 notes would help the fight against black money.

Mamata Banerjee of the Trinamool Congress too attacked the government while the JD(U) and the BJD welcomed the move.

“Is the banking system ready?… What will happen to the marriage celebrations and festivities. What will happen to sowing of crops? What will happen to shopkeepers and artisans who believe in recycling of money? These are some questions that he [the Prime Minister] needs to answer,” Congress communication department Randeep Surjewala told reporters.

“While Modi withdraws Rs 500 and Rs 1,000 notes, he introduces Rs 2,000 notes…. Would it not encourage hoarders to save their money in Rs 2,000 rupee denominations?” he added.

At the same time, he said the Congress would offer unconditional support to any move to unearth black money that is “meaningful, precise, specific and pointed”.

West Bengal CM Mamata Banerjee called it a draconian decision and demanded it be withdrawn immediately. In a series of tweets, she said, “The PM could not get back the promised black money from abroad from the rich, so a drama to divert his failure… I want to know from PM how my poorest brothers sisters,who’ve recd their week’s hard earned wage in one 500 re note will buy ata,chal, tomorrow?”

JD(U) general secretary K C Tyagi, on the other hand, said the step will check fake currency being smuggled in. “We welcome this move,which will also break the back of those hoarding black money and hawala traders. There was a moral pressure on the PM to unearth black money, a promise that he had made… He has fulfilled that promise with this step,” he said.

Tyagi noted, however, that the move will affect farmers and the poor in villages who keep cash at home. “It will also sound the death knell for small businessmen,” Tyagi said.

BJD leader Bhartruhari Mahtab said, “I welcome the bold step by the Prime Minister… to weed out black money from circulation which is a parallel economy in our country. Next step is to keep a hawk’s eye on the money transaction that may change hands. All the best to Narendra Modi.”

Before the announcement, the Prime Minister had called on the President, who welcomed the move. In a statement issued by Rashtrapati Bhawan, the President called on people not to panic and to follow the government’s guidelines for exchanging currency notes.

BJP president Amit Shah too issued a statement, praising various steps taken by the Prime Minister to weed out black money.

“The black money recovery scheme has brought Rs 65,000 crore into the treasury. This announcement by the PM will help in uprooting corruption, black money, hawala and fake currency,” he said. The move would bring financial affluence in the lives of lower middle class people, he added, and would be an effective step in reining in terrorism. “We are all proud of this surgical strike by Prime Minister Narendra Modi and would like to congratulate him for this.”

Also from the NDA, Punjab deputy chief minister Sukhbir Badal and his wife Harsimrat Kaur Badal, a Union minister, both tweeted their support.

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