Denizens upset with PM Modi’s speech

Vijayawada: Prime Minister Narendra Modi’s address to the nation on Saturday night about the demonetisation, its impact on the country and measures taken up by the government to resolve the cash crunch in the country have disappointed the people in the city.

A large number of people, who had been facing innumerable hardships due to cash crunch particularly restrictions on withdrawing money from banks , have disappointed as Prime Minister Modi did not mention about the supply of more cash to the banks from RBI.

He also not announced the hike of weekly withdrawing limit of Rs 24,000 a week.

People had a lot of expectations that Modi may announce about the flow of more cash to the banks to end the woes of crores of people.

But, to the surprise of people the Prime Minister had announced the slashing of interest to the housing loans and sanction of financial assistance of R 6,000 to the pregnant women.

The Prime Minister also said about release of another Rs 20,000 crore to Nabard in addition to the R 21,000 crore sanctioned last month.

Traders in th city have disappointed with the speech of Prime Minister.

Thousands of traders are not able to do business due to restrictions on the withdrawing of money from the banks.

R Nageswara Rao, a textile trader, Beasant Road, said the Prime Minister’s speech had dashed his hopes on the recovering of trading activity in the city. He said the traders had hoped Prime Minister would announce about supply of adequate cash to the banks to end the cash crunch.

Farmers, too, disappointed with the Prime Minister Modi’s address to the nation. YSRCP farmers wing president M V Nagireddy said more than 65 per cent people in Andhra Pradesh depend on agriculture for livelihood.

He said lakhs of farmers are suffering due to not availability of cash in banks or ATMs. He said farmers are badly need of more money as rabi season is gradually progressing.

Nonavailability of small denomination notes is the biggest problem being faced by people in the city. Unfortunately, the Prime Minister did not speak about the time limit when the cash crunch problem would be solved in the country.

Cash crunch badly affected the business in Vijayawada this Christmas and New Year season. There is no hope that trading would pickup by Sankranti also.

Demonetisation had huge impact on agriculture, industry, transport and other sectors.

Jawahar Autonagar, which provides livelihood to about one lakh workers and traders, is unlikely to recover from the crisis in near future as the present problems may continue for some more months due to non-availability of cash in the banks and ATMs.

Congress party official spokesperson Kolanukonda Sivaji demanded that the Prime Minister tender apology to the country for his government failure to address the cash crunch problem even after 55 days of demonetisation announced onNovember 8.

He lashed out at the Prime Minister for taking unilateral decision on the demonetisation and felt he could have consulted the Cabinet before the announcement of the decision.