1. Home
  2. Politics
  3. National
  4. Corruption, terrorism flourishing after demonetisation, says

Corruption, terrorism flourishing after demonetisation, says Sitaram Yechury

India TV Politics Desk New Delhi 09 May 2017, 13:44:11
India TV Politics Desk

Slamming Prime Minister Narendra Modi for his ”demonetisation” move, CPI-M General Secretary Sitaram Yechury today said that corruption, black money and terrorism which the PM sought to end, were flourishing after the note ban.

"Six months after demonetisation, corruption, black money and terrorism - three claims Modi made of having ended - flourish at an even stronger pace," the Communist Party of India (Marxist) leader said.  

"Six months on, still no data on how much money in old currency notes has returned to the system", he said wondering if the move was legalisation of counterfeit currency.

He described Modi's November 8 move to demonetise Rs 1,000 and Rs 500 notes as an economic disaster. 

"Government has let the big fish -- bank loan defaulters -- off and ruined India's informal economy which employs more than two-third of Indians and contributes more than half of our GDP."

"All this while, the only movement on jobs has been backwards, as the number of jobs continues to decline. Modi's promise was of two crore new jobs every year," added Yechury.

(With IANS inputs)