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CPI demands review of demonetization process; calls for protests all over country

New Delhi: While reiterating its commitment to fight against corruption, black money and fake currency notes, the Communist Party of India felt that the measures taken by the Narendra Modi government have created more hardships for the common people, especially the vendors, daily-wage earners and salaried class. The Centre should immediately review the process of demonetization of currency.
In a pressnote here on Monday, the CPI central secretariat stated that the introduction of Rs 2,000 currency note was causing more difficulties to the people as there were not enough currency notes of lower value. “The exchange should be in the currency notes of Rs 100, Rs 500 and Rs 1,000 only. Otherwise, the release of Rs 2,000 currency note will create opportunities to double the quantum of black money. Therefore, it should be withdrawn from circulation”, it added.
“If the government was really sincere to curb the parallel economy based on black money, it should take people into confidence about the WikiLeaks list of those Indians holding accounts in foreign banks, list of those who have investments in foreign countries leaked in the Panama leak papers. The government should take urgent steps against such holders of black money. Besides, the banks should take immediate measures to recover the money taken as loans and converted into Non-Performing Assets (NPAs) and properties of such defaulters should be confiscated”, it added.
The CPI also stated there were reports that a large number of people, including leaders of political parties, have deposited several crores of rupees in banks during the last month as they were aware of the demonetization move of the Central government. The Banks should release the list of such depositors at all levels, it said and called upon the party units to organize mass demonstrations, dharnas at banks and Income Tax offices to stress the demands related to black money, deposits and investments in foreign countries and recovery of the NPAs. (NSS)