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Demonetisation failed to unearth black money: CPM
CPM state Secretary P Madhu criticised the Central government as it has failed to unearth black money through demonetisation of big currency. He participated as chief guest in the party district executive committee and division committees secretaries meeting held at CPM office in Bhimavaram on Thursday.
Bhimavaram: CPM state Secretary P Madhu criticised the Central government as it has failed to unearth black money through demonetisation of big currency. He participated as chief guest in the party district executive committee and division committees secretaries meeting held at CPM office in Bhimavaram on Thursday.
Speaking at the meeting, the CPM Secretary said that the BJP led NDA government has unilaterally scrapped off the big currency of Rs.500 and Rs.1,000 by claiming that the act would curb the black money.
However, it yielded nothing but the people suffered from it over months, he stated. He pointed out that the Reserve Bank of India (RBI) in its 2016-17 report has exposed that the demonetisation yielded nothing and it has also stated that before the demonetisation the currency in circulation was Rs.15.44 lakh crore and after demonetisation, it was only Rs.15.28 lakh crore.
No black money has been credited in the banks and it was still in the form of gold, real estate and in Swiss banks, he stated. He said that due to the decision of demonetisation by Narendra Modi government, the RBI has spent Rs.8,000 Crores to print Rs 16000 Crore new currency.
CPM State Secretariat member V Umamaheswara Rao said that the victory of TDP at Nandyal is not of people’s verdict and alleged that it has misused the government machinery, and concentrated all cabinet members in that constituency.
He alleged that the TDP Government is neglecting to solve the problems of Tundurru aqua park, Garagaparru social boycott and displaced of Polavaram project and other issues. He said that the CPM will take up agitations with the like-minded parties. A state-wide agitation would also be taken up on the Aqua pollution in future. The meeting earlier expressed its condolence on the deaths of children in Gorakhpur.
