Raghavulu hits out at Centre for note ban move

Accuses the BJP of running govt with black money

​Khammam: Bharatiya Janata Party which boasted of bringing back all the black money and use it for the welfare of people is running the government with the same black money, alleged the Politburo member of Communist Party of the India-Marxist (CPM) B V Raghavulu here in Khammam on Friday.

A seminar was organised by the CPM district unit on the topic of ‘Pedda Notla Raddu: Abadhalu-Agachatlu’ here at Manchikanti Bhavan in Khammam on Friday.

Attending as a chief guest, Raghavulu said the decision of ban on big notes taken by the Modi’s government was only to favour the big corporate companies in the country, but not for the welfare of people.

“When the decision was taken, Modi said due to ban on big notes black money could be extracted, terrorism can be eradicated and more tax could be collected. But, contrary not even single paisa of black money is not extracted.

The 500 and 1,000 rupee fake currency was converted into white and there are no signs of control on terrorism in the country,” he criticised.

He alleged that the centre has boasted that after 50 days from the time of decision on demonetisation, there would be increase in GDP rate. Instead, the economy was affected very badly with no hope of recovery for a period of more than five years after the note ban decision.

He further added that the decision of demonetisation was against the democracy and Reserve Bank of India (RBI) did not inform to the nation how much black money it recovered till date.

Instead, the officials are now telling that only 5 per cent of liquid cash is present in the country and the remaining 95 per cent is in the form of gold, infrastructure, and are deceiving the people.

“There is no use for poor and weaker sections of people with the decision of ban on big notes. Instead, they are the people who are suffering a lot due to such thoughtless decision taken by the Centre,” he pointed.

“By changing his words, now Modi is saying that the decision of demonetisation is to transform the nation into digitalisation. But the decision was taken to provide the infrastructure to the big corporate companies such as Snapdeal and Paytm by introducing e-commerce,” he criticised.

District secretary of the CPM party Ponnam Venkateshwar Rao, party executive members Nunna Nageshwar Rao, Yerra Srikanth, Kalyanam Venkateshwar Rao, Battula Lenin and T L Narasaiah were present along with others.