Purpose of currency inscription ruined – Pramod Madhwaraj

Manipal: The very purpose of inscription signed by RBI Governor on Indian currency is ruined by PM Narendra Modi said Minister for Fisheries, Sports, Youth Affairs and District in-charge Minister Pramod Madhwaraj. He was speaking during a protest held against demonetisation organised by the District Congress in front of the deputy commissioner’s office, Rajathadri, Manipal here on January 7.

Hitting hard on demonetisation Madhwaraj said that the inscription on the currency signed by RBI Governor says “I promise to pay the bearer” the promise has left people in crisis. The UPA government led by Manmohan Singh through various financial reforms had strengthened the economy and GDP. Today the scenario is different, the GDP is declining where the economic growth seems to be in vain.

Economists have said that demonetization will have an adverse effect on developing economy but still the move is defended amid huge financial crisis. The RBI is destroying the lives of the poor, the poor are still struggling to get their hard earned money. The effects of demonetization will last for another one year since the RBI still cannot meet the demand of money.

PM Modi is renaming UPA’s policies, the scheme of depositing Rupees 5600 to pregnant women was launched by UPA, PM has just increased rupees 400. Congress means development, the party has led the country towards development but BJP is taking this country nowhere. The promises given by Narendra Modi are leading us nowhere, people should support Congress in strengthening the country, he added.

Senior leader and Byndoor Constituency MLA Gopal Poojary said PM Narendra Modi should explain his statement saying he is a fakir, a person wearing expensive clothing and other luxury articles does not become a fakir. PM promised of depositing rupees 15 lakh in the bank account of every citizen, till today not even 15 paise have been credited to the account. The international media has reported demonetisation as a financial blunder to ruin the economy, but still, Modi’s efforts to revive the economy are in vain.

Former Karkala MLA Gopal Bhandary, CMC President Meenakshi Madhav Bannaje, Congress leaders MA Gafoor, Veronica Carnelio, Harish Kini, Amrith Shenoy, Narasimhamurthy, Bhaskar Rao, Vignesh Kini, Prashanth Poojary, Neeraj Patil, Chandrika Shetty, Satish Amin Padukere, Sandhya Tilak Raj and others were present.