Bengaluru: Describing demonetisation as a surgical strike on the poor, AICC general secretary in charge of Karnataka, K.C. Venugopal on Wednesday dared Prime Minister, Narendra Modi to a public debate on his decision to withdraw currency notes of Rs 1000 and Rs 500 denomination a year ago.
Speaking at a Black Day rally on the first anniversary of demonetisation here, Mr Venugopal said, "Mr Modi seems to fear a backlash, hence, he has not gathered enough courage to convene the winter session of Parliament. The ruling party is too nervous about facing a united opposition in Parliament on this issue."
The AICC general secretary alleged that the BJP as a political party, seems to have lost its senses as even a year after demonetisation, it has failed to tender an apology for putting people to inconvenience. "More than 100 people died in long queues in front of banks," he recalled.
Chief Minister, Siddaramaiah alleged that the PM's decision had only helped his friends convert their black money into white. He wondered if corruption in the country had come down after this decision, "While making the announcement last year, Mr Modi had talked about four objectives - stop terrorist funding, stop black money, stop counterfeit currency and create jobs. Unfortunately none of these objectives were fulfilled," he remarked. Terming demonetisation as the biggest setback for the economy, KPCC president, Dr G. Parameshwar observed that more 2.4 lakh companies have closed down in just about a year after demonetisation was announced.
A view of the protesters
BJP hits back; Demonetisation has done wonders on many fronts
Coming down hard on the Congress for observing the first anniversary of demonetisation as Black Day, Union Minister for Human Resource and Development, Prakash Javadekar contended it amounted to supporting the hoarding of black money. Calling the decision of Prime Minister Narendra Modi historic, he said: "The Congress institutionalised corruption when it was in power. On the contrary the BJP has brought in transparency and accountability in the financial system and is fighting black money tooth and nail," he said.
The Minister claimed that demonetisation was not only rooting out black money, but also encouraging digital transactions, which had increased by 50 per cent in the last year, and had upped the filing of income tax returns, which had risen by 20 per cent. "Over 3.81 lakh crore returns have been filed," he said.
"Demonetisation is helping the government identify black money as it has put nearly 23 lakh accounts and 17 lakhs transactions under the radar. Besides, the Modi government has identified 37,000 Shell companies where black money was being converted into white. Many Shell companies have since de-registered, more PF and ESI accounts are being opened, and salaries are being directly transferred to beneficiary accounts through NEFT and RTGS. These are positive impacts of demonetisation," he added.
