Reveal amount deposited after demonetisation drive: CPI (M) to PM Modi

New Delhi [India], Dec. 31 : The Communist Party of India (Marxist) (CPI-M) on Saturday asked Prime Minister Narendra Modi to reveal the amount received by the government post demonetisation.

"We just want to ask Prime Minister as to how much currency they got back after demonetisation. What is the end result of this move? If more money has come back of what has been demonetised which was expected, which means what all black money has been legalised into white," CPI (M) general secretary Sitaram Yechury told ANI.

Yechury also demanded a waive off of farmers loans and to provide relief to workers through the MNREGRE program.

Targeting the Prime Minister's cashless economy initiative, he said, "By promoting a cashless economy, the Prime Minister is allowing big multinational corporations involved in digital transactions to maximise their profits." Communist Party of India (CPI) leader D.

Raja pointed out the problems still being faced by the people after demonetisation and added priority must be given to finding solutions to their problems.

"The Prime Minister should stop reiterating. He should address the real issues. Fifty days of the Prime Minister's demonetisation policy is over now. He should tell us how much black money the government has got as fake currency," said Raja. The deadline to deposit old Rs. 500 and 1,000 currency notes ends today. However, people will still have time to exchange currency notes at designated Reserve Bank of India (RBI) counters till March 31 after giving valid reasons for not depositing defunct notes in their accounts by December 30.

From today, it will be illegal to have banned notes and one can be fined heavily for carrying them, according to a new law.

One can deposit old notes only in select branches of RBI after today's deadline. Furnishing wrong information while depositing old currency between January 1 and March 31 will attract a fine of Rs 5,000, or five times the amount.

Prime Minister Narendra Modi is likely to address the nation this evening, and according to reports, is expected to spell out the post-demonetisation roadmap.

This will be his second address to the nation since his announcement to scrap 1,000 and 500 rupees notes on November 8.

While announcing the landmark decision, he had asked the people to give 50 days for demonetisation and getting accustomed to a cashless economy.

Source: ANI