Demonetization of Notes: Image-building at the cost of people through cosmetic exercises.

09 November 2016
The sudden, overnight announcement of demonetizing 500 and 1000 rupee notes which have become very, very common in the cash-based economy is a severest blow against the common people. While black money holders are operating through the official money circulation channels and as the elite and corporate sections are transacting their businesses through online credit methods, the worst sufferers will be some small businessmen, middle classes and common people. Common people who are not in the habit of online businesses will find it very difficult to get food and other essential services and the whole retail trade in the country is going to be badly affected till the promised alternate arrangements come in to force.

Through this surgical attack against the people, the Modi government, which is encouraging the corporate businesses who are playing with unearned incomes in such speculative carnivals like IPL , and protecting those big sharks who have siphoned off billions of crore worth of money from banks, aims at an image building in view of the forthcoming elections in UP, Punjab, etc. The off-guard withdrawal of currency notes which are in frequent use, while allowing the black money channels to flourish uninterruptedly is not going to settle the black money issue or corruption. The huge amounts stashed away in foreign tax havens, the corporates, the mafias including those engaged in real etate business, those named in Panama Papers etc are not going to be even touched. Modi’d exercise is only to satisfy the gullible. CPI (ML) Red Star severely condemns such exercises which harass the common people while leave all the real black money operators untouched.

K N Rmachandran

General Secretary

CPI(ML) Red Star

New Delhi

9th November 2016
1287 K2_VIEWS
Super User

The Communist movement in India has a history of almost a century after the salvos of October Revolution in Russia brought Marxism-Leninism to the people of India who were engaged in the national liberation struggle against the British colonialists. It is a complex and chequered history.