Demonetisation is a drama by BJP

Hanamkonda: CPI National General Secretary Suravaram Sudhakar Reddy has tore into PM Narendra Modi’s demonetisation move, while calling Chief Minister K Chandrashekar Rao a coward for being silent on public woes due to cash crunch.

Addressing the delegates at the party State conference in Hanamkonda on Monday, he said the withdrawal of Rs 500 and Rs 1,000 currency notes would benefit the corporate forces but not the public.

It was a drama staged by the BJP government, which failed to address real issues pertaining to black money.The CPI leader faulted Modi’s suggestion of moving towards mobile and internet economy.

‘No one with common sense and proper mind would make such a proposal. Only one person among ten have access to banking services. There are places, where we can’t find an ATM in a radius of 40 kilometres,’ he said adding ‘In such scenario how could the public use mobile and internet economy’.

Before the Modi government came to power, 48 per cent of wealth of the nation was in the hands of one per cent of 128 crore population.

Now that one per cent of affluent section was holding 58 per cent of wealth and in the days to come it would further increase. The money being deposited in the banks following demonetisation would be used to extend loans to corporate houses and the rich.

Persons like Vijay Malya and Lalit Modi escaped from the hands of law, while the IT wing was issuing notices to middle-class sections, seeking explanation on the cash deposits they made into their accounts, Sudhakar Reddy lamented.

Nearly four to five lakh crores rupees of benefits accrued to corporate sections due to Modi governments’ actions. Corporate tax was reduced by 30 per cent while the GST, service tax and others were increased phenomenally, he complained.

Hitting at CM Chandrashekar Rao, he said while the public was suffering due to shortage of cash caused by demonetisation, the CM was maintaining silence. “It indicates his cowardly and lack of competence as he feared that his acts of corruption and black money he amassed would come into light”.

‘The CM is exploiting public on the pretext of vastu, pushkaralu and God and it should be stopped. Encouraging political migrations into TRS shows KCR’s fear over opposition parties. The CPI cadre should fight against his feudal rule,’ Sudhakar Reddy said.