Demonetisation meant for bailing out those with black money, says Congress

The Congress party on Tuesday launched a scathing attack against the Central Government's demonetisation initiative, saying that it was in reality a move meant to bail out those with black money.

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New Delhi, Nov 15: The Congress party on Tuesday launched a scathing attack against the Central Government's demonetisation initiative, saying that it was in reality a move meant to bail out those with black money.

Congress spokesman Kapil Sibal ltrained guns on Prime Minister Narendra Modi, accusing him of being out of sync with the woes of the common man, who is now battling for cash.

Kapil Sibal

Sibal said Modi's pledge that the situation arising out of banning Rs.500 and 1,000 notes will stabilise in 50 days cannot be believed as his earlier promises had also fallen flat.

"All this has nothing to do with battling black money or corruption," he told the media.

Asserting that Modi had "collaborated" with those who have black money, he said it were the poor who were facing the brunt of tjhe problem due to this decision, which has resulted in serpentine queues outside banks and ATMs across the country.

Sibal said the demonetisation was aimed at wiping out the Non-Performing Assets of banks.

The Congress leader said Modi had no understanding of the plight of the ordinary men and women who were struggling to exchange or deposit the old currency or withdraw money from their accounts.

"He makes fun of people... It looks like he is far removed from ordinary people's problems," he said.

Commenting on the Prime Minister's comment that he had sacrificed everything for the country, Sibal asked: "Which palace was he living in that he gave up? Which property did he donate to the public? What sacrifices did he do for the country?"

Sibal added: "Please understand the pain of the ordinary people. Stop your whims and fancies..."

He also hit out at the limits placed on bank withdrawals.

"What kind of law is this? The money is mine, the bank account is mine, it is taxable income... Why can't I withdraw it? It is not Modi's money."

Prime Minister Narendra 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.

IANS

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