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Vundavalli lambasts PM for economic emergency
Former MP Vundavalli Arun Kumar lashed out at Prime Minister Narendra Modi for taking a sudden decision of withdrawing currency notes of denomination Rs 500 and Rs 1,000 notes.
​Rajamahendravaram: Former MP Vundavalli Arun Kumar lashed out at Prime Minister Narendra Modi for taking a sudden decision of withdrawing currency notes of denomination Rs 500 and Rs 1,000 notes.
He said Modi’s decision was not a surgical operation … but it is like bombing on Hiroshima and Nagasaki for common man. Stating that it is not the way to collect taxes, he said that the Prime Minister created economic emergency.
Speaking to reporters here on Saturday, Vundavalli observed that the Prime Minister had created panic situation among all sections of the society by banning big notes and common people were affected very badly.
He said the Prime Minister failed to target people who were not paying income tax for several years on their unaccounted money. He alleged that Modi’s target seemed to be bringing out unaccounted money of common man, but not to expose those who possessed black money.
He said the Prime Minister has committed a mistake which no others had done in the country after independence. The former MP said people lost confidence on banks following Narendra Modi’s decision.
He further said that Modi conducted surgical strike on common man without giving them anesthesia.
He explained that only eight per cent out of 6.38 lakh villages in India have banks and questioned on how the rural folk can go and exchange their currency in towns for their daily needs.
He said it is a clear violation of primary rights of the citizens and questioned how the notes of Rs 500 and Rs 1,000 having guarantee of the Indian government and signature of the Governor of Reserve Bank could be termed as waste papers.
He stated that 86 per cent of 16.40 lakh crore notes which are in the market have been termed as waste notes by the Centre and he demanded on what basis, the Centre was telling the deposits up to Rs 2.50 lakh were permissible.
Stating that the people who have black money are happy, he pointed outthat the poor as well as middle class were suffering. However, he demanded that the Prime Minister should make an announcement how to ease the situation.
