Crores of People in the country are suffering due to Demonetisation – Vinay Kumar Sorake
He was speaking at a protest held at the War memorial Ajjarkad on Friday, November 9 on the occasion of the second anniversary of the demonetization of higher denomination currency notes.
The prime minister stood up two years ago on November 8 and addressed the nation, demonetizing almost Rs 16.99 lakh crore in circulation. The reasons given for demonetization was that it would curb black money, weed out fake notes and proscribe terror financing, but two years later none of those objectives have materialized. The poor and middle class suffered needlessly due to demonetization, he said.
“The decision of demonetization has destroyed the lives of millions of people and completely ruined thousands of small and micro business in the country. Though Modi government has promised eradication of black money hoarding, no such miracle has happened after demonetization. Instead, scores of poor people suffered a lot while the owners of corporate companies went unscathed,” he said.
Beyond the steep drop in headline GDP growth numbers after demonetization, the deeper ramifications of notebandi are still unravelling. Small and medium businesses that are the cornerstone of India’s economy are yet to recover from the demonetization shock. This has had a direct impact on employment as the economy continues to struggle to create enough new jobs for our youth. Some 115 people had died while standing in queues to withdraw money from their own bank accounts (after the government withdrew high-value currencies of Rs 500 and Rs 1,000 from circulation). The decision of demonetization has affected the poor in the country, he said.
KPCC secretary G A Bava said Modi and his BJP team claimed demonetization will end black money, finish corruption, terminate terrorism, and bring only digital transactions. Two years later, Modi is silent. The truth is that he single handedly destroyed the economy, lives and livelihoods, he said.
District Congress President Janardhan Tonse, vice president Muniyal Uday Kumar Shetty, Prakayath Shetty, AICC member Amrith Shenoy, KPCC secretary M A Gaphoor, Veronica Cornelio, Youth Congress district secretary Vignesh Kini District woman congress president Geetha Wagle, Congress leaders Dr Sunitha Shetty, Belapu Deviprasad Shetty, Vishwas Shetty, and others were present.
Please declare the names of people who suffered due to demonetisation. IT dept can the conduct scrutiny on these people.