New Delhi, Nov 8: The Communist Party of India-Marxist (CPI-M) on Thursday alleged that the demonetisation of 500 and 1000 rupee notes was an avenue to convert black money into white helping the most corrupt.
In a statement issued on the second anniversary of the demonetisation, CPI(M) Polit Bureau said the Indian economy and the people are yet to recover from the ‘disaster imposed by Prime Minister Narendra Modi.
“All the claims that it would unearth lakhs of crores of rupees of black money and end corruption have proven to be utterly false. On the contrary, 99.4 percent of the banned notes are back in the system”, it said.
The party said while the corrupt people were converting the black money into white, crores of people dependent on daily cash transactions have been devastated and more than 35 lakh workers in the unorganised sector have lost their livelihood.
“There has been no impact on terrorist activities due to funding crunch as claimed by Mr Modi at that time. On the contrary, official data reveals that incidents of terrorist attacks have more than doubled”, it said.
The CPI(M) also said it condemns the defence being put out by Finance Minister Arun Jaitley who is equally responsible for the mess in the Indian economy.
Demonetisation helped corrupt to convert black money into white, says CPI(M)