Communist Party of India (Marxist) [CPI(M)] general secretary Sitaram Yechury has accused the Narendra Modi-led Central government of declaring an economic war on the public in the name of demonetisation of high-value currency notes.
He was delivering the keynote address at an international seminar on The Impact of October Revolution on Struggle for Peace and against War organised in connection with the three-day national conference of the All India Peace and Solidarity Organisation (AIPSO) here on Thursday.
According to Mr. Yechury, the Centre has failed to recover nearly ₹11 lakh crore borrowed by corporate giants from nationalised banks. “Under the present circumstances, the government has sought to prevent the public from withdrawing their hard-earned money in a bid to protect banks from collapsing. The ongoing exercise is in effect a ‘bail-in’ package for the banks. At the same time, the Centre has made no attempts to prosecute those firms that have failed to pay back the loans,” he said.
Great legacy
Communist Party of India (CPI) central secretariat member D. Raja said the October Revolution had left behind a great legacy to ensure justice and dignity to all, while striving for peace and a world order devoid of weapons. The revolution upheld a sense of human values, justice, and equality.
World Peace Council executive secretary Iraklis Tsavdaridis, CPI(M) leader M.A. Baby, CPI leader Binoy Viswam, and AIPSO State council president C.P. Narayanan participated. Chief Minister Pinarayi Vijayan will inaugurate the AIPSO national conference on Friday. Leader of the Opposition Ramesh Chennithala, Mr. Yechury, Mr. Raja, and CPI State secretary Kanam Rajendran will take part.
