PNS|Hyderabad
The BRS said that demonetisation was an utter flop and now it is time for ‘Demoditisation,’ that is, remove the Modi government from power. Hoardings were displayed in Hyderabad calling for Demoditisation.
“BJP says one thing and does one thing. A big example of this is demonetisation. Finance Minister Nirmala Sitharaman’s reply on demonetisation in Parliament on Monday exposed the truth. The Centre agreed that demonetisation was an utter flop. BJP leaders are not talking about demonetisation as it was a failure,” Minister Harish Rao said at a press conference.
“RBI statistics show that fake currency has not decreased after demonetisation and has actually increased by 54 per cent.
The first objective of demonetisation was to curb counterfeiting. It was an utter flop. Another goal of demonetisation was to reduce the currency in circulation and increase digital payments. This too has been an utter flop. Currency circulation has increased from 11 per cent of GDP before demonetisation to 13 per cent now. The circulation of high-value notes doubled after demonetisation,” he said.
“Rs 500 and Rs 1000 notes were cancelled and Rs 2000 notes were introduced. The Centre wanted to limit the use of high-value notes but it increased tremendously. The CBDT said that black money has increased enormously. Black money worth Rs 40,000 crore was seized in 592 cases. This proves that the aim of eliminating black money also failed,” Harish said.
The Centre said that terrorist activities and drug trafficking will decrease after demonetisation but this also has been proved false.
“The Centre demonetized without a plan. Demonetisation had a severe impact on the economy. The economy suffered a loss of Rs 5,000 billion and 108 people died standing in queues to exchange notes. Many were indirectly affected. 62 lakh people lost jobs and Rs 21,000 crore was spent on printing new notes,” Harish said.
He said the Centre assured that everything will be fine in 50 days after demonetisation but 20,000 days have passed. What changed? he asked.
“Every step taken by the BJP has become a burden on the poor. Taking loans and making mistakes has become the BJP’s policy. The Centre’s daily debt is Rs 4,618 crore. Debts have risen to Rs 1,07,000 under Modi. The PM who apologized for the black laws he introduced against farmers should apologize for demonetisation too. Black money in Swiss banks has increased. The Centre should immediately publish a white paper on demonetisation,” Harish said.
“Foreign exchange reserves and the value of the Rupee are decreasing by the day. A white paper should be announced regarding the implementation of BJP’s promises. The BJP which has degraded the country has succeeded in increasing religious fanaticism,” he said.
“BJP Ko Hathao Desh Ko Bachao’ is our slogan. Due to our faith in the Prime Minister we supported demonetisation but they could not achieve its stated goals,” Harish added.
