Country heading towards a financial crisis: Mamata

Written by: Vikas
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New Delhi, Nov 17: West Bengal Chief Minister Mamata Banerjee on Thursday lashed out at the BJP-led Government for reducing the daily currency exchange limit at the banks and said it shows that the Centre lacked funds.

"Now they have reduced withdrawal limit to Rs.2000, it means that govt lack funds. Country is heading towards a financial crisis," she told reporters here.

Mamata Banerjee

Banerjee, who led a march led a march to the Rashtrapati Bhavan yesterday to submit memorandum on demonetisation, earlier warned the Centre of intense protests if the problems being faced by people are not resolved in three days' time.

After submitting the memorandum to President, Mamata said that they have requested the President to speak to Government.

"President was once the Finance Minister, and knows country's situation better than anyone else, he will take appropriate action," she said yesterday.

Amid uproar in Parliament over the government's demonetisation decision, Finance Minister Arun Jaitley earlier today said that the decision to reduce the currency exchange limit from tRs 4,500 to Rs 2,000 has been taken to stop misuse of funds.

Economic affairs secretary Shaktikanta Das, who announced about the limit reduction, told the media that families with weddings can withdraw Rs 2.5 lakh. For doing so, the families will have to sign a self-declaration document saying the money was drawn against only one account.

The move is aimed at decongesting the serpentine queues outside banks and ATMs across India following last week's decision to ban Rs.500 and Rs. 1000 notes.

Meanwhile, Modi governments currency demonetisation move has been gaining support from the citizens.

According to the survey by LocalCircles - a citizen engagement platform - 79 per cent of those surveyed citizens fully supported the demonetisation programme while only 3 percent were against it.

Prime Minister Modi, had on November 8, announced that all Rs 500 and Rs 1,000 rupee notes would cease to be valid in all forms of transactions in a bid to tackle hoarding of black money, corruption and terror financing.

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