Reacting to Prime Minister Narendra Modi’s assertion that the Left has abandoned its ideological positions in attacking the present demonetisation move, CPI(M) general secretary Sitaram Yechury said on Friday that while the Left itself had demanded the 1978 demonetisation, that was not in the currency of daily transaction and did not hit the economy and common people.
“The Prime Minister seems to be on a learning curve as far as the past is concerned. We also exerted pressure for demonetisation when the Morarji Desai government did so. But those were not notes of transaction but very high denominations common people never used,” Mr. Yechury told The Hindu . “That was about tackling black money and not aimed at a cashless economy. At present we know more than 90 per cent black money is abroad. He should proceed in that direction instead of ruining the economy and the lives of the poor.”
‘Neoliberal agenda’
Mr. Yechury added that all talk of a cashless economy was little more than a “neoliberal agenda.” “A cashless economy is in accordance with the neoliberal agenda. It is like FDI in retail, which the government cannot bring because of opposition from the Swadeshi Jagran Manch, etc. Global e-commerce corporations will take over gradually,” he said.
“The reality is that economy has been thrown in a mess. The body language of BJP MPs says a lot. He [Mr. Modi] wants them to go to their constituencies but they do not want to do so as people will not allow them in,” the CPI(M) leader claimed.
