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‘TDP expresses ‘shock’ over fallout of demonetisation’

Vijayawada: TDP MPs today expressed “shock” over the “unexpected fallout” of demonetisation in terms of the hardships caused to the people that seems to have left the party flustered despite having earlier sought the ban on the high-value currency notes.

Party sources said the issue dominated a TDP meeting here this afternoon, with party supremo N Chandrababu Naidu as well as MPs expressing “shock” over the “unexpected fallout” of demonetisation, a move which the Chief Minister had been demanding for over three years now.

“It has created a lot of negativity because the Centre failed to take adequate alternative measures. The abrupt manner in which the exercise was carried out left the common people cashless and that has caused a lot of heartburn. The economy has also suffered as the cash flow ceased,” the sources quoted the MPs as telling Naidu.

The Centre’s decision to bring out Rs 2,000 notes also left the TDP brass baffled.

“What’s the point in bringing Rs 2,000 notes and reintroducing Rs 500 and Rs 1,000 notes? Would it not defeat the whole purpose and only lead to disgruntlement among common people,” the meeting opined, according to the sources.

On his part, Naidu welcomed the scrapping of Rs 500 and Rs 1,000 currency notes but opposed the introduction of Rs 2,000 notes.

“It should go,” the sources quoted him as telling the MPs.

For the record, however, Union Ministers P Ashok Gajapati Raju and Y Satyanarayana Chowdary maintained that demonetisation was good for the medium and long terms.

“There has been a delay in execution (of alternatives) as a result of which people are facing problems,” they told reporters at the end of the meeting.

“There will be a debate on this (demonetisation) in Parliament and we will have clarity on why the government introduced Rs 2,000 currency notes. The Central government and Finance Minister will also give reasoning for it,” Gajapati Raju said.

“We want to use the debate for a constructive business, not an academic debate. People are facing a problem. We feel if A, B, C is done, the problem will ease out. Let them spell out what they are going to do and also take our suggestions,” the Civil Aviation Minister said.

“Now, this is the line we will be taking there and we will request for information,” he added.

Chowdary said the Chief Minister was discussing the issue with officials and would write a letter to the Centre on the steps needed to alleviate the people’s problems arising out of demonetisation.

PTI