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India's Congress party slams gov't for bringing financial anarchy

Xinhua, November 16, 2016 Adjust font size:

India's main opposition Congress party Wednesday made an attack on Prime Minister Narendra Modi's government for causing inconvenience to the people over demonetization move, saying it has brought financial anarchy to the country.

Speaking during a debate on currency ban in Parliament on the first day of the winter session, Congress leader Anand Sharma urged the government not to tarnish the image of the entire nation by banning currency notes of higher denominations under the garb of curbing black money.

"We are a constitutional democracy. Without any notice or warning, the government implemented the rule and made everyone criminal. They have said if we would have announced earlier, it would have helped terrorists, counterfeiters and those with black money," he said in Upper House (Rajya Sabha).

He added: "It is a fact that our economy runs on agriculture. Does the farmer, who puts food on our table, bring home black money? It's a strange logic. Earlier when notes were recalled, people were given time. Is this law? You have brought financial anarchy to the country."

The Congress leader also slammed the government for long queues of people at banks and automated teller machine (ATM) kiosks to withdraw cash or swap old currency notes with new ones.

"There are people who are taking turns to stand in ATM lines. So many have died standing in line. This government has no compassion. Your government is insensitive," Sharma said, also accusing the government of leaking selectively the information of demonetization beforehand.

The Indian government, however, defended the demonetization move, saying it would help root out black money. "The entire country has welcomed the move. Only a few got pinched by the move and they are criticising the government," Indian Minister Piyush Goyal said.

India had last week abolished currency notes of 500 rupees (7.5 U.S. dollars) and 1,000 rupees (15 U.S. dollars), with Modi making a televised address to the nation to inform the move, saying it will help curb the menace of black money and put an end to counterfeit notes in hands of terrorists. Endit