Modi failed to achieve his goals: Yechury

​Vijayawada: CPM General Secretary Sitaram Yechury alleged that Prime Minister Narendra Modi has reduced India as a junior partner to America in defence and economic issues.

The recent defence cooperation agreement signed between America and India and the demonetisation of high value notes were the part of this process, he charged.

Addressing the inaugural function of Makineni Basavapunnaiah Vignana Kendram here on Tuesday, Yechury said that Modi government did not reveal the content in the recent defence deal to country and Parliament.

He said that the defence pact would be dangerous to India, as our Army would be part of NATO’s activities in various countries despite the country not being the member of NATO. He demanded the government to introduce the deal in the Parliament and take the consent.

Yechury remarked that Modi has reduced India as a junior partner to America in economic policies and the demonetisation of old currency notes was part of the process.

“Four motives cited by Modi to introduce demonetisation were eradicating black money, corruption, fake currency and obstruct terror funding.

None of them have been fulfilled even one month after the ban on high value notes,” he said. The CPM general secretary said that the government demonetised Rs 15.44 lakh crore worth currency, but 82 per cent of the amount was deposited in banks by November 9.

“The deposits will exceed the demonetised money, if cash deposits in banks before demonetisation are added to the amount. All the black money in the country has become white with the demonetisation,” he said.

Faulting the Modi’s recent mantra of cashless economy, Yechury said that the Union government was moving India as a market to multi-national companies involved in e- commerce.

“How is it possible to turn the country cashless, when the transactions are mere two per cent,” he questioned.

Yechury said that about four lakh workers in cotton, leather and jewellery sectors have lost their employment after demonetisation and the sales dipped by 40 per cent in automobile sector.

“Modi government is creating illusions on demonetisation, while frustration is increasing among people” he commented.

He found fault with Prime Minister’s statement that he was not allowed to speak in Parliament and reminded that the then Prime Minister Manmohan Singh was in Parliament for about 20 hours when a discussion was going on 2G scam.

“Modi did not come to Parliament to participate in discussions on demonetisation. But, he told people that he was not allowed” Yechuri charged.