JAMMU, Nov 8: Expressing concern over the adverse fallout of demonetization on Indian economy besides multifarious problems faced by the common man in one year, a large number of J&K National Panthers Party activists led by party chairman. Harsh Dev Singh and other leaders staged a protest demonetization at Exhibition Ground here today.
The agitated protesters amid raising anti- BJP slogans sought fulfillment of PM Modi’s election promises of bringing back black money stashed abroad and paying Rs 15 lakh into the account of every Indian.
Addressing the media after protest, Harsh Dev recalled that how the decision of demonetization in one stroke by PM Narendra Modi on November 8 last year, brought the life of people to grinding halt when they stood in queues and felt harassed in paying for their routine transactions including medical emergency and even for groceries. He said that even the former RBI Governor RR Rajan had dis-approved of demonetization. He said that the only noticeable fall out of the demonetization exercise was the large scale conversion of currency notes into gold, dollars, real estate besides other forms of money laundering.
Describing the demonetization exercise as a cover up operation to hide the failure of the BJP led Govt in bringing back the black money stashed abroad, Singh said that people were gradually realizing the truth behind its deceptive facades. He pointed out that the currency scrapping was largely aimed at countering the public taunting for Modi’s claims of Rs 15 lakhs for every citizens account after bringing back the black money hoarded by the Indians in the foreign banks.
Describing the demonetization exercise as grossly inadequate to unearth black money, Singh sought the fulfillment of Modi’s promise to bring back 500 lakh crores black money held in Swiss and other banks abroad by Indians and pay the promised amount to every Indian without any further delay.
He revealed that the first RBI annual report showed that demonetization move did not yield the expected results besides the official GDP data showed that growth rate declined by over 2 percent as it recorded 5.7 percent for the April-June quarter as against 7.9 percent in the corresponding quarter last fiscal.